Stocks climbed for a second day on optimism war in Iraq may end soon, bolstering consumer confidence in the US, the world's largest economy.
Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電), United Microelectronics Corp (UMC, 聯電) and Au Optronics Corp (友達光電) led gains after newspaper reports that their sales or shipments rose last month.
The TAIEX rose 140.79, or 3.2 percent, to close at 4,499.18, it's biggest one-day jump since March 18. The benchmark added 0.5 percent this week. Nineteen stocks advanced for each one that fell.
MSCI Taiwan futures for April delivery in Singapore rose 3.3 percent to 192.30. The Taiwan Futures Index gained 3 percent to 4,469.
"The war between the US and Iraq seems to be making good progress," said Phil Chen, who helps manage the equivalent of US$145 million at Grand Cathay Securities Investment Trust Co (
The benchmark may rise to 6,000 this year, he said.
TSMC climbed NT$1.30, or 3 percent, to NT$45.20. Last month's sales jumped 14 percent from February, a local newspaper reported, citing no one. The world's biggest supplier of made-to-order chips had sales of NT$14 billion (US$402 million) last month, compared with NT$12.3 billion in February, it said.
UMC, the world's second-largest supplier of made-to-order chips, added NT$0.50, or 2.5 percent, to NT$20.30. The company had sales of NT$6.5 billion last month, the paper reported, citing no one. The company had sales of NT$5.4 billion in February.
Shipments at makers of flat-panel displays for personal computers such as Au Optronics were their highest ever, another local newspaper said.
Au Optronics, the world's No. 3 maker of flat-panel displays used in PCs, gained NT$0.80, or 4 percent, to NT$20.70.
Chi Mei Optoelectronics Corp (
Chunghwa Picture Tubes Ltd (中華映管) added NT$0.50, or 4.8 percent, to NT$10.85. Hannstar Display Corp (瀚宇彩晶) rose NT$0.40, or 4.2 percent, to NT$10.05. Quanta Display Inc (廣明電子) gained NT$0.50, or 4.3 percent, to NT$12.20.
Advanced Semiconductor Engineering Inc (
The company said it has invested US$15 million in a diode plant in China. Light-emitting diodes convert electricity to light and are used in digital displays.
The company applied to invest in light-emitting diodes, which Taiwan considers less advanced technology than chip assembly, to mask preparations for operating its main business in China.
Advanced Semiconductor declined to comment on the report.
Asustek Computer Inc (華碩電腦), the nation's largest maker of motherboards, rose NT$3.50, or 5 percent, to NT$73.50, its highest since Dec. 9.
Salomon Smith Barney Inc raised its recommendation on the stock to "outperform" from "underperform," citing higher projected sales this year, according to the brokerage's research report sent to analysts.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
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
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