Stocks advanced yesterday, paced by China Airlines Co (
"The rule change is quite positive for Taiwan airlines given the closer ties across the straits and the increase in Taiwan investments on the mainland," said Tracy Chen, who manages US$76 million in stocks at Prudential Securities Investment Trust Co (保誠投信).
The TAIEX rose 21.85, or 0.4 percent, to 5,645.28. It added 0.1 percent this week, its fourth weekly gain in five. Eight stocks rise for every three that declined.
The futures contract for September delivery advanced 0.3 percent to 5,666.
The value of trade was NT$62 billion (US$1.8 billion), 43 percent lower than the daily average in the past three months.
China Airlines rose NT$0.50 cents, or 3.7 percent, to NT$14. EVA gained NT$0.55, or 4.3 percent, to NT$13.35.
China Development Financial Holding Corp (
China Development chairwoman Diana Chen (陳敏薰) said Wed-nesday the company has ``many candidates in mind.''
China Development also said it will return to profitability next year. The stock added NT$0.20, or 1.7 percent, to NT$12.25.
Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電) led declines in electronics-related shares after some investors said its rally of as much as 22 percent in the past one month may have outstripped profit potential.
TSMC, the world's largest supplier of made-to-order chips, fell NT$1.50, or 2.2 percent to NT$68. United Microelectronics Corp (UMC,
The relative strength index, derived by averaging out daily gains and losses, was 76 for shares of UMC on Wednesday. Some traders and investors use the index to predict when gains or losses in a security are set to change direction. A reading above 70 suggests prices are poised to fall.
Shares in notebook computer makers rose on better prospects for shipments. Quanta Computer (
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
ISSUES: Gogoro has been struggling with ballooning losses and was recently embroiled in alleged subsidy fraud, using Chinese-made components instead of locally made parts Gogoro Inc (睿能創意), the nation’s biggest electric scooter maker, yesterday said that its chairman and CEO Horace Luke (陸學森) has resigned amid chronic losses and probes into the company’s alleged involvement in subsidy fraud. The board of directors nominated Reuntex Group (潤泰集團) general counsel Tamon Tseng (曾夢達) as the company’s new chairman, Gogoro said in a statement. Ruentex is Gogoro’s biggest stakeholder. Gogoro Taiwan general manager Henry Chiang (姜家煒) is to serve as acting CEO during the interim period, the statement said. Luke’s departure came as a bombshell yesterday. As a company founder, he has played a key role in pushing for the
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday. Castanares will succeed Brian Harrison as president of the Arizona subsidiary on Oct. 1 after the incumbent president steps down from the position with a transfer to the Arizona CEO office to serve as an advisor to TSMC Arizona’s chairman, the statement said. According to TSMC, Harrison is scheduled to retire on Dec. 31. Castanares joined TSMC in
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker. Intel and AWS are to coinvest in a custom semiconductor for artificial intelligence computing — what is known as a fabric chip — in a “multiyear, multibillion-dollar framework,” Intel said in a statement on Monday. The work would rely on Intel’s 18A process, an advanced chipmaking technology. Intel shares rose more than 8 percent in late trading after the