Taiwan's TAIEX advanced as Chinatrust Financial Holding Co (中國信託金控) gained after its banking unit said pre-tax profit rose more than two-thirds in the first half.
The TAIEX added 25.76, or 0.5 percent, to 4995.08, after slumping 3.6 Monday to its lowest this year.
More than three stocks rose for every two that fell. The total value of trade was NT$43.2 billion (US$1.3 billion).
"It's a rebound after yesterday's fall," said Lin Che-cheng (林哲正), who manages NT$3.3 billion (US$98.3 million) in stocks at Capital Trust Investment Corp (群益投信).
"The finance companies are quite stable investments, and in the long term they're improving their business by getting rid of their bad loans."
Taiwan Semiconductor Ma-nufacturing Co (TSMC, 台積電) declined after its US-traded shares had their largest one-day percentage drop since Sept. 25. TSMC lost NT$1, or 1.5 percent, to NT$66.
Chinatrust Financial rose 90 cents, or 3.1 percent, to NT$30.10. Chinatrust Commercial Bank (中信銀) said pre-tax profit rose more than two-thirds in the first half from a year ago to NT$8.36 billion.
Shares also rose after local media said that government funds bought shares in banking stocks. First Commercial Bank (第一銀行), which counts Taiwan's government as its biggest shareholder, rose NT$1.20, or 5.5 percent to NT$23.20.
The government has four main government-linked funds: the Labor Retirement Fund, the Postal Savings Fund, the Civil Servant Pension fund and the Labor Insurance Fund.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the