Stocks ended slightly higher yesterday on bargain hunting, with construction stocks leading gains on improving property demand, analysts said.
The TAIEX added 4.2, or 0.1 percent, to 6,879.11, with a turnover of NT$129.49 billion (US$3.88 billion). The index dropped as much as 1 percent in intra-day trading. About the same number of stocks rose as fell. Taiex futures for March delivery shed 0.1 percent to 6,922.
Construction stocks surged 4.2 percent overall, outpacing all other sectors.
Alan Tseng, an analyst at Capital Securities Corp (群益證券), said the bourse was able to recoup early losses because investors sought bargains as the key index approached the short-term support level of 6,800 points.
Shares of Kuoyang Construction Co (
Steel makers also benefited from the rise in property demand. Yieh Loong Steel Co (燁隆) climbed 2.8 percent to NT$18.4, while Chia I Industrial Co (嘉益) surged 6.4 percent. But China Steel Corp (中鋼) fell 0.3 percent to NT$34.10.
Computer-memory chipmakers saw their shares boosted by stabilizing dynamic random access memory prices, analysts said.
Nanya Technology Corp (南亞科技), the nation's largest computer memory-chipmaker, climbed 4.8 percent to NT$26.20, and Winbond Electronics Corp (華邦電子) rose 2.2 percent to NT$18.50.
Rival Mosel Vitelic Inc (
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”
Garment maker Makalot Industrial Co (聚陽) yesterday reported lower-than-expected fourth-quarter revenue of NT$7.93 billion (US$251.44 million), down 9.48 percent from NT$8.76 billion a year earlier. On a quarterly basis, revenue fell 10.83 percent from NT$8.89 billion, company data showed. The figure was also lower than market expectations of NT$8.05 billion, according to data compiled by Yuanta Securities Investment and Consulting Co (元大投顧), which had projected NT$8.22 billion. Makalot’s revenue this quarter would likely increase by a mid-teens percentage as the industry is entering its high season, Yuanta said. Overall, Makalot’s revenue last year totaled NT$34.43 billion, down 3.08 percent from its record NT$35.52
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