Taiwanese shares closed up 1.41 percent yesterday following gains on Wall Street, dealers said.
The TAIEX index rose 86.62 points to 6,231.15 on turnover of NT$82.97 billion (US$2.52 billion).
Gainers led losers by 1,502 to 635 with 128 stocks unchanged.
The market opened up 0.71 percent as investors took advantage of recent losses and the buying extended throughout the day on active bargain hunting, dealers said.
“Corrections in the past two weeks did pave the path for the rebound. It seems that selling pressure has been largely digested,” Concord Securities Co (康和證券) analyst Allen Lin said.
Before yesterday, the market had fallen more than 11 percent since the beginning of this month.
Stocks of firms with large real estate assets boosted the index from the market opening on expectations that property prices will rise as Chinese capital is allowed in the local property market, dealers said.
“However, many investors still remained on the sidelines after the recent significant downside,” Lin said, referring to yesterday’s low trading volume.
“That shows it is not easy for the market to ride out of the current narrow range without a takeoff of large cap electronic stocks, which need high liquidity,” Lin said.
The rise in the stock market helped raise the local currency against its US counterpart, with the NT dollar edging up NT$0.026 to close at NT$32.878 on the Taipei Forex Inc yesterday.
Turnover was US$599 million, up from US$497 million in the previous day.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) would not produce its most advanced technologies in the US next year, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the comment during an appearance at the legislature, hours after the chipmaker announced that it would invest an additional US$100 billion to expand its manufacturing operations in the US. Asked by Taiwan People’s Party Legislator-at-large Chang Chi-kai (張啟楷) if TSMC would allow its most advanced technologies, the yet-to-be-released 2-nanometer and 1.6-nanometer processes, to go to the US in the near term, Kuo denied it. TSMC recently opened its first US factory, which produces 4-nanometer
PROTECTION: The investigation, which takes aim at exporters such as Canada, Germany and Brazil, came days after Trump unveiled tariff hikes on steel and aluminum products US President Donald Trump on Saturday ordered a probe into potential tariffs on lumber imports — a move threatening to stoke trade tensions — while also pushing for a domestic supply boost. Trump signed an executive order instructing US Secretary of Commerce Howard Lutnick to begin an investigation “to determine the effects on the national security of imports of timber, lumber and their derivative products.” The study might result in new tariffs being imposed, which would pile on top of existing levies. The investigation takes aim at exporters like Canada, Germany and Brazil, with White House officials earlier accusing these economies of
Teleperformance SE, the largest call-center operator in the world, is rolling out an artificial intelligence (AI) system that softens English-speaking Indian workers’ accents in real time in a move the company claims would make them more understandable. The technology, called accent translation, coupled with background noise cancelation, is being deployed in call centers in India, where workers provide customer support to some of Teleperformance’s international clients. The company provides outsourced customer support and content moderation to global companies including Apple Inc, ByteDance Ltd’s (字節跳動) TikTok and Samsung Electronics Co Ltd. “When you have an Indian agent on the line, sometimes it’s hard
PROBE CONTINUES: Those accused falsely represented that the chips would not be transferred to a person other than the authorized end users, court papers said Singapore charged three men with fraud in a case local media have linked to the movement of Nvidia’s advanced chips from the city-state to Chinese artificial intelligence (AI) firm DeepSeek (深度求索). The US is investigating if DeepSeek, the Chinese company whose AI model’s performance rocked the tech world in January, has been using US chips that are not allowed to be shipped to China, Reuters reported earlier. The Singapore case is part of a broader police investigation of 22 individuals and companies suspected of false representation, amid concerns that organized AI chip smuggling to China has been tracked out of nations such
RSS