Shares on the Taiwan Stock Exchange yesterday rebounded on the back of major high-tech and financial stocks, despite worries about the escalating trade war between the US and China.
The weighted index, the key barometer of the local bourse, at one point rallied 122 points before ending at 10,857.27, up 97.06 points, or 0.9 percent, from the previous close.
Turnover totaled NT$127.639 billion (NT$4.15 billion).
Taiwan Semiconductor Manufacturing Company (TSMC, 台積電), the most heavily weighted stock on the local stock market and a key Apple-concept stock, gained 1.38 percent to finish at NT$258.
Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, which assembles iPhones and iPads for Apple Inc, rose 0.79 percent to NT$76.4.
Largan Precision Co (大立光), a smartphone camera lens supplier to Apple, finished 0.13 percent higher at NT$3,865.
Shares in Yageo Corp (國巨), a leading provider of passive components, rose to a high of NT$522 during the session before falling 4.39 percent to end in negative territory at NT$479.
Walsin Technology Corp (華新科技), the nation’s second-largest passive components supplier, was dragged down by Yageo to finish 5.54 percent lower at NT$221.5.
Most prime financial stocks rose, with Fubon Financial Holding Co (富邦金控) rising 0.6 percent to NT$50.3, Cathay Financial Holding Co (國泰金控) inching up 0.98 percent to NT$51.4 and Mega Financial Holding Co (兆豐金控) gaining 0.75 percent to end the day at NT$27.
Although stock markets around the world have been jittery on growing concerns over a worsening US-China trade war, panic selling has not set in, which means there is little chance that the local bourse will dip much further, analysts said.
In addition, sales of new iPhones are likely to beat forecasts, which would help sustain the local stock market, they added.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that its investment plan in Arizona is going according to schedule, following a local media report claiming that the company is planning to break ground on its third wafer fab in the US in June. In a statement, TSMC said it does not comment on market speculation, but that its investments in Arizona are proceeding well. TSMC is investing more than US$65 billion in Arizona to build three advanced wafer fabs. The first one has started production using the 4-nanometer (nm) process, while the second one would start mass production using the
A TAIWAN DEAL: TSMC is in early talks to fully operate Intel’s US semiconductor factories in a deal first raised by Trump officials, but Intel’s interest is uncertain Broadcom Inc has had informal talks with its advisers about making a bid for Intel Corp’s chip-design and marketing business, the Wall Street Journal reported, citing people familiar with the matter. Nothing has been submitted to Intel and Broadcom could decide not to pursue a deal, according to the Journal. Bloomberg News earlier reported that Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is in early talks for a controlling stake in Intel’s factories at the request of officials at US President Donald Trump’s administration, as the president looks to boost US manufacturing and maintain the country’s leadership in critical technologies. Trump officials raised the
‘SILVER LINING’: Although the news caused TSMC to fall on the local market, an analyst said that as tariffs are not set to go into effect until April, there is still time for negotiations US President Donald Trump on Tuesday said that he would likely impose tariffs on semiconductor, automobile and pharmaceutical imports of about 25 percent, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the US leader’s trade war. “I probably will tell you that on April 2, but it’ll be in the neighborhood of 25 percent,” Trump told reporters at his Mar-a-Lago club when asked about his plan for auto tariffs. Asked about similar levies on pharmaceutical drugs and semiconductors, the president said that “it’ll be 25 percent and higher, and it’ll
CHIP BOOM: Revenue for the semiconductor industry is set to reach US$1 trillion by 2032, opening up opportunities for the chip pacakging and testing company, it said ASE Technology Holding Co (日月光投控), the world’s largest provider of outsourced semiconductor assembly and test (OSAT) services, yesterday launched a new advanced manufacturing facility in Penang, Malaysia, aiming to meet growing demand for emerging technologies such as generative artificial intelligence (AI) applications. The US$300 million facility is a critical step in expanding ASE’s global footprint, offering an alternative for customers from the US, Europe, Japan, South Korea and China to assemble and test chips outside of Taiwan amid efforts to diversify supply chains. The plant, the company’s fifth in Malaysia, is part of a strategic expansion plan that would more than triple
RSS