Stocks rose for the first day in six yesterday, led by United Micro-electronics Corp (UMC,
Shares also got a boost after the government scrapped a 12-year-old rule that limited investment by overseas funds in the stock market.
The TAIEX jumped 118.20, or 2.1 percent, to 5,699.86, ending a five-day, 2.5 percent drop. About six stocks gained for every one that fell.
The futures contract for October delivery added 1.6 percent to 5,720.
About 3.3 billion shares changed hands, or 25 percent below the average volume in the past three months. Shares worth NT$76.8 billion (US$2.3 billion) were traded.
Cathay United Bank (國泰銀行) hit its full-year profit forecast in just nine months, a Chinese-language newspaper reported yesterday.
Sales of UMC may have increased last month, while third-quarter sales probably rallied as much as 12 percent from the previous quarter, the paper reported.
"Preliminary signs show we can expect more good scorecards entering into the earnings season this month,"said Phil Chen, a fund manager at Grand Cathay Securities Investment Trust Co (大華投信).
Cathay Financial rose NT$0.60, or 1.4 percent, to NT$44.50.
UMC rose NT$1.50, or 5.4 percent, to NT$29.20.
Yuanta Core Pacific Securities Co (元大京華證券) surged NT$1.10, or 6 percent, to NT$19.50. The nation's largest brokerage surpassed its net income target for this year of NT$3.8 billion (US$112.5 million) with just nine months of income reported, a local newspaper said.
VIA Technologies Inc (威盛電子) gained NT$1, or 1.9 percent, to NT$53.
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
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
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