Taiwan shares closed up 0.28 percent yesterday in thin trading following Wall Street’s overnight gains, dealers said.
The weighted index rose 12.4 points to 4,366.1 on turnover of NT$33.57 billion (US$1.02 billion).
The market opened yesterday to make up for fewer trading days later this month because of the Lunar New Year holidays.
Gainers led losers by 725 to 711 with 293 stocks unchanged.
A total of 14 shares closed limit-up 7 percent, against 11 that were limit-down.
Plastics rose 1.74 percent and financials gained 1.4 percent, while tourism shed 1.19 percent and electronics lost 0.21 percent.
KGI Securities (凱基證券) trader Randy Chang expected shares to continue consolidating next week before markets close on Thursday for Lunar New Year until Feb. 1.
“Investors generally have squared their positioned and are just on the sidelines before the long holiday,” he said.
AU Optronics Corp (友達光電) added 0.4 percent to NT$24.50 and Chi Mei Optoelectronics Corp (奇美電子) gained 6.8 percent to NT$11 after Taiwan’s largest liquid-crystal-display producers said they extended supply agreements with Chinese television makers, benefiting from China’s policy of subsidizing electrical appliances bought by its farmers.
HTC Corp (宏達電) gained 0.3 percent to NT$317 after the world’s largest maker of handsets using Microsoft Corp and Google Inc operating systems said revenue would climb at least 10 percent this year as sales of Microsoft-based phones continue to outpace those using the rival Google software.
EXTRATERRITORIAL REACH: China extended its legal jurisdiction to ban some dual-use goods of Chinese origin from being sold to the US, even by third countries Beijing has set out to extend its domestic laws across international borders with a ban on selling some goods to the US that applies to companies both inside and outside China. The new export control rules are China’s first attempt to replicate the extraterritorial reach of US and European sanctions by covering Chinese products or goods with Chinese parts in them. In an announcement this week, China declared it is banning the sale of dual-use items to the US military and also the export to the US of materials such as gallium and germanium. Companies and people overseas would be subject to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
WORLD DOMINATION: TSMC’s lead over second-placed Samsung has grown as the latter faces increased Chinese competition and the end of clients’ product life cycles Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) retained the No. 1 title in the global pure-play wafer foundry business in the third quarter of this year, seeing its market share growing to 64.9 percent to leave South Korea’s Samsung Electronics Co, the No. 2 supplier, further behind, Taipei-based TrendForce Corp (集邦科技) said in a report. TSMC posted US$23.53 billion in sales in the July-September period, up 13.0 percent from a quarter earlier, which boosted its market share to 64.9 percent, up from 62.3 percent in the second quarter, the report issued on Monday last week showed. TSMC benefited from the debut of flagship
TENSE TIMES: Formosa Plastics sees uncertainty surrounding the incoming Trump administration in the US, geopolitical tensions and China’s faltering economy Formosa Plastics Group (台塑集團), Taiwan’s largest industrial conglomerate, yesterday posted overall revenue of NT$118.61 billion (US$3.66 billion) for last month, marking a 7.2 percent rise from October, but a 2.5 percent fall from one year earlier. The group has mixed views about its business outlook for the current quarter and beyond, as uncertainty builds over the US power transition and geopolitical tensions. Formosa Plastics Corp (台灣塑膠), a vertically integrated supplier of plastic resins and petrochemicals, reported a monthly uptick of 15.3 percent in its revenue to NT$18.15 billion, as Typhoon Kong-rey postponed partial shipments slated for October and last month, it said. The
RSS