Stocks gained for the fifth day in six, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Quanta Computer Inc (廣達電腦) after they reported higher sales last month.
The TAIEX added 52.93, or 1.3 percent, to 4,244.18. The benchmark added 1.4 percent this week, its first weekly gain in three. About four stocks advanced for every one that declined. The Taiwan Futures Index climbed 1.4 percent to 4,224.
Quanta and TSMC are more competitive than rivals when economic conditions are unfavorable, according to some investors.
"The adverse economic climate will weed out marginal players in the industry, especially in the fast changing technology sector," said Eddie Chiu, who manages the equivalent of US$115 million in First Global Investment Trust Co's (
"Only the strong players will survive in this brutal process," Chiu said.
TSMC gained NT$0.80, or 1.7 percent, to NT$47.50. The company said yesterday after the market closed that last month's sales rose 14 percent to NT$15.3 billion (US$440 million).
Quanta climbed NT$2.5, or 4.2 percent, to NT$62.50. The notebook computer maker said yesterday that last month's sales surged 77 percent from a year earlier to a record NT$20.6 billion.
EVA Airways Corp (
CMC Magnetics Corp (奇美電子) added NT$0.10, or 0.6 percent, to NT$17.30. It said sales last month rose 8.2 percent from a year earlier to NT$1.9 billion.
Formosa Plastics (台塑) climbed NT$2.5, or 5.9 percent, to NT$44.60 on news that it and other local plastic makers may raise their export prices next month amid tightening supply in China. Nan Ya Plastics Corp (南亞科技) rose NT$0.10, or 0.3 percent, to NT$32.80.
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
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
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”