Stocks fell for a third day, led by exporters such as Quanta Computer Inc (
The TAIEX shed 33.62, or 0.6 percent, to 5225.83. August futures on the benchmark fell 0.5 percent to 5242. Almost three stocks declined for every one that gained. The benchmark index has gained 17 percent this year.
About 2.8 billion shares changed hands, 36 percent below the average trading in the past three months. The value of trading was NT$63.2 billion (US$1.8 billion), 32 percent below the three-month daily average.
"Investors are reluctant to put more money into stocks fearing the recent market rally may have outpaced corporate profit growth," said Celine Chiang (
Notebook-computer maker Quanta fell NT$1.50, or 1.8 percent, to NT$81.50. The stock has gained 57 percent this year. Hon Hai, the nation's biggest electronics maker by sales, fell NT$4, or 2.6 percent, to NT$153.
US employers in July announced plans to cut 85,117 jobs, up 43 percent from June and 5.1 percent from July last year, according to a survey by Challenger, Gray & Christmas Inc, a Chicago-based placement firm. That reversed two months of declines in planned job cuts. The US is Taiwan's biggest export market after China.
China Airlines Co (
Advanced Semiconductor Engineering Inc (
The Kaohsiung-based company's sales rose to NT$4.6 billion from NT$4.1 billion. The company forecast sales will rise by 10 percent this quarter from the second.
Compal Electronics Inc (
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
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],”
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day