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.
SEMICONDUCTOR SERVICES: A company executive said that Taiwanese firms must think about how to participate in global supply chains and lift their competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it expects to launch its first multifunctional service center in Pingtung County in the middle of 2027, in a bid to foster a resilient high-tech facility construction ecosystem. TSMC broached the idea of creating a center two or three years ago when it started building new manufacturing capacity in the US and Japan, the company said. The center, dubbed an “ecosystem park,” would assist local manufacturing facility construction partners to upgrade their capabilities and secure more deals from other global chipmakers such as Intel Corp, Micron Technology Inc and Infineon Technologies AG, TSMC said. It
NO BREAKTHROUGH? More substantial ‘deliverables,’ such as tariff reductions, would likely be saved for a meeting between Trump and Xi later this year, a trade expert said China launched two probes targeting the US semiconductor sector on Saturday ahead of talks between the two nations in Spain this week on trade, national security and the ownership of social media platform TikTok. China’s Ministry of Commerce announced an anti-dumping investigation into certain analog integrated circuits (ICs) imported from the US. The investigation is to target some commodity interface ICs and gate driver ICs, which are commonly made by US companies such as Texas Instruments Inc and ON Semiconductor Corp. The ministry also announced an anti-discrimination probe into US measures against China’s chip sector. US measures such as export curbs and tariffs
The US on Friday penalized two Chinese firms that acquired US chipmaking equipment for China’s top chipmaker, Semiconductor Manufacturing International Corp (SMIC, 中芯國際), including them among 32 entities that were added to the US Department of Commerce’s restricted trade list, a US government posting showed. Twenty-three of the 32 are in China. GMC Semiconductor Technology (Wuxi) Co (吉姆西半導體科技) and Jicun Semiconductor Technology (Shanghai) Co (吉存半導體科技) were placed on the list, formally known as the Entity List, for acquiring equipment for SMIC Northern Integrated Circuit Manufacturing (Beijing) Corp (中芯北方積體電路) and Semiconductor Manufacturing International (Beijing) Corp (中芯北京), the US Federal Register posting said. The
India’s ban of online money-based games could drive addicts to unregulated apps and offshore platforms that pose new financial and social risks, fantasy-sports gaming experts say. Indian Prime Minister Narendra Modi’s government banned real-money online games late last month, citing financial losses and addiction, leading to a shutdown of many apps offering paid fantasy cricket, rummy and poker games. “Many will move to offshore platforms, because of the addictive nature — they will find alternate means to get that dopamine hit,” said Viren Hemrajani, a Mumbai-based fantasy cricket analyst. “It [also] leads to fraud and scams, because everything is now
RSS