The TAIEX rose to almost a 17-month high yesterday after Chunghwa Telecom Co (
Mega Financial Holding Co (
"Companies that showed strong profit and sales reports will be favored by investors," said Phil Chen, who manages the US$46 million High-Tech Fund at Grand Cathay Securities Investment Trust Co (
The TAIEX rose 48.08, or 0.8 percent, to 5,869.88, its highest since May 15 last year. For the week, the index rose 2.1 percent. About seven stocks gained for every two that declined.
About 5.7 billion shares changed hands, 32 percent above the three-month daily average.
The futures contract for October delivery rose 1 percent to 5,894.
Chunghwa Telecom gained NT$1, or 2.1 percent, to NT$49.80. The company said last month's sales rose 1.4 percent to NT$15.5 billion (US$458 million) from NT$15.2 billion the same month a year ago.
Quanta Computer rose NT$2, or 2.3 percent, to NT$87.50. Quanta said sales last month nearly quadrupled from a year earlier.
Cathay Financial, the country's biggest financial services company, advanced NT$1.30, or 2.7 percent, to NT$48.80.
Mega Financial, the nation's third-largest financial company by market value, rose NT$0.50, or 2.6 percent, to NT$19.60.
Chi Mei Optoelectronics Corp (
Taiwan Semiconductor Manu-facturing Co (
The Taiwan Stock Exchange will be closed today for the Double Ten Day national holiday.
NOTABLE SHIFT: By 2030, 50% of all laptops would be assembled in Southeast Asia, while Taiwan would still mostly focus on research and development, a report said Global laptop and desktop computer supply chains are expected to shift significantly away from China in the next 10 years, a Market Intelligence & Consulting Institute (MIC, 產業情報研究所) report said. By 2030, only 40 percent of global laptop production would remain in China, said the report, which was released on Thursday. “The reshuffling of the global supply chain will be one of the most important trends in the next 10 years,” the institute said in the report. “In the long run, key component makers will follow laptop assemblers in moving out of China.” The Taipei-based institute predicted most key component makers
Merck Group Taiwan yesterday said that it plans to invest substantially on expanding its fab in Kaohsiung’s Lujhu District (路竹) to better serve its local customers, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). The company said it plans to expand its production space by 50 percent in the next five years and its workforce by about 40 percent, Merck Group Taiwan managing director Dick Hsieh (謝志宏) told a media briefing in Taipei. Hsieh declined to disclose investment details, but said that the latest investment would exceed the total amount Merck has invested in Taiwan over the past few years. Those investments would be
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,
Yageo Corp (國巨), the world’s third-largest supplier of multilayer ceramic capacitors, has formed a strategic alliance with Hon Hai Precision Industry Co (鴻海精密) to develop key electronic components for electric vehicles and digital healthcare, it said yesterday. The alliance is to help Yageo boost its revenue from high-end components for vehicles and industrial, medical and aerospace devices, as well as those used in 5G and Internet-of-Things devices, the company said. The companies signed the strategic alliance agreement at Yageo’s headquarters in New Taipei City’s Sindian District (新店). Their cooperation is to start this quarter, the companies said in a joint statement. “Through the cooperation