Stocks fell for the first day in four yesterday after some investors judged the TAIEX's 4.2 percent gain last week as excessive given concerns that the central bank may lift interest rates if the US raises borrowing costs this week.
Financial issues led the broad decline on profit-taking and a rumor that some local banks could suffer losses related to Procomp Informatics Ltd (
The TAIEX fell 92.71, or 1.6 percent, to 5,709.84. The benchmark last week had its biggest weekly advance since the five days to April 2. About five shares fell for each one that rose. Futures for July delivery shed 2.1 percent to 5,615.
"Investors here are concerned over a probable move by the central bank" if the US Federal Reserve lifts interest rates, said Kevin Yang, vice president of International Investment Trust Co (國際投信).
Cathay Financial Holding Co (
AU Optronics Corp (友達光電), the world's third-largest maker of flat-panel displays, lost 3.9 percent to NT$50. Chi Mei Optoelectronics Corp (奇美電子), the nation's second-largest flat-panel display maker, dropped 4.6 percent to NT$51.50.
Taiwan Semiconductor Manu-facturing Co (台積電), the world's largest supplier of made-to-order chips, fell 0.7 percent to NT$45.90. Rival United Microelectronics Corp (聯電) slipped 2.1 percent to NT$23.60.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”