Stocks rose to a 15-month high yesterday. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) advanced after saying shipments would increase in the third quarter.
"The semiconductor sector is very vigorous and the momentum is unstoppable," said Barro Liao, who helps manage the equivalent of US$4.2 billion in stocks at Prudential Securities Investment Trust Co (保誠投信) in Taipei.
"We're very optimistic about semiconductor demand in the fourth quarter as well as for next year," he said.
The TAIEX gained 87.98, or 1.6 percent, to 5,727.01, its highest close since May 30 last year.
About 11 stocks fell for every 10 that gained. Futures contracts for September delivery added 1.2 percent to 5,753. About 3.4 billion shares changed hands, 31 percent fewer than the three-month daily average. Shares worth NT$87.8 billion (US$2.6 billion) traded.
TSMC rose NT$3, or 4.4 percent, to NT$71.
The company expects sales growth to be at the high end of its 5 percent to 9 percent forecast made on July 24, spokesman Tzeng Jinnhaw (曾晉皓) said. He was repeating a statement made earlier by Elizabeth Sun (孫又文), an investor relations spokeswoman, in New York.
United Microelectronics Corp (UMC, 聯電) gained NT$1.60, or 5.7 percent, to NT$29.60.
Advanced Semiconductor Engineering Inc (日月光), the world's second-largest packager of computer chips, rose NT$1, or 3.8 percent, to NT$27.70. The company sold US$25 million more of bonds convertible into its shares, increasing the sale of such bonds to US$200 million, the sale's arranger said.
BUSINESS UPDATE: The iPhone assembler said operations outlook is expected to show quarter-on-quarter and year-on-year growth for the second quarter Hon Hai Precision Industry Co (鴻海精密) yesterday reported strong growth in sales last month, potentially raising expectations for iPhone sales while artificial intelligence (AI)-related business booms. The company, which assembles the majority of Apple Inc’s smartphones, reported a 19.03 percent rise in monthly sales to NT$510.9 billion (US$15.78 billion), from NT$429.22 billion in the same period last year. On a monthly basis, sales rose 14.16 percent, it said. The company in a statement said that last month’s revenue was a record-breaking April performance. Hon Hai, known also as Foxconn Technology Group (富士康科技集團), assembles most iPhones, but the company is diversifying its business to
Apple Inc has been developing a homegrown chip to run artificial intelligence (AI) tools in data centers, although it is unclear if the semiconductor would ever be deployed, the Wall Street Journal reported on Monday. The effort would build on Apple’s previous efforts to make in-house chips, which run in its iPhones, Macs and other devices, according to the Journal, which cited unidentified people familiar with the matter. The server project is code-named ACDC (Apple Chips in Data Center) within the company, aiming to utilize Apple’s expertise in chip design for the company’s server infrastructure, the newspaper said. While this initiative has been
GlobalWafers Co (環球晶圓), the world’s No. 3 silicon wafer supplier, yesterday said that revenue would rise moderately in the second half of this year, driven primarily by robust demand for advanced wafers used in high-bandwidth memory (HBM) chips, a key component of artificial intelligence (AI) technology. “The first quarter is the lowest point of this cycle. The second half will be better than the first for the whole semiconductor industry and for GlobalWafers,” chairwoman Doris Hsu (徐秀蘭) said during an online investors’ conference. “HBM would definitely be the key growth driver in the second half,” Hsu said. “That is our big hope
The consumer price index (CPI) last month eased to 1.95 percent, below the central bank’s 2 percent target, as food and entertainment cost increases decelerated, helped by stable egg prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. The slowdown bucked predictions by policymakers and academics that inflationary pressures would build up following double-digit electricity rate hikes on April 1. “The latest CPI data came after the cost of eating out and rent grew moderately amid mixed international raw material prices,” DGBAS official Tsao Chih-hung (曹志弘) told a news conference in Taipei. The central bank in March raised interest rates by