Taipei, Sept. 22 (CNA) Shares in Taiwan closed at a record high Monday, rising more than 300 points, as contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) hit a record high on the back of ample liquidity after a U.S. rate cut, dealers said. The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 302.23 points, or 1.18 percent, at 25,880.60 after moving between 25,599.60 and 25,887.69. "In addition to ample funds, TSMC also rode the wave of optimism over global artificial intelligence development." Nontech stocks largely benefited from rising fund levels as buying, in particular, rotated to "military concept stocks" after recent consolidation, Lin said. According to the TWSE, foreign institutional investors sold a net NT$6.65 billion worth of shares on the main board Monday.