Stocks closed higher yesterday, led by AU Optronics Corp (
The TAIEX added 3.05, or 0.1 percent, to 6,081.01, its highest since May 28. About three shares rose for every two that declined. Index futures for October delivery climbed 0.3 percent to 6,123.
Formosa Plastics Corp (台塑) led declines among the largest companies by market value on concerns of higher borrowing costs after the central bank governor hinted at higher interest rates.
Formosa Plastics declined 1.8 percent to NT$55.50.
The company will borrow US$323 million from 11 banks including BNP Paribas, the main lenders said on Sept. 2.
AU Optronics, the world's third-largest maker of flat panel displays, rose 0.9 percent to NT$43.90.
Higher rates would benefit lenders and insurers because that would help boost their interest incomes.
Mega Financial Holding Co (兆豐金控) gained 0.5 percent to NT$22.30. China Development Financial Holding Corp (中華開發金控) added 1.3 percent to NT$15.90.
Some technology shares declined after Advanced Micro Devices Inc, the second-largest maker of microprocessors for personal computers in the world, said third-quarter sales fell from the preceding period on weaker demand for flash memory chips.
Taiwan Semiconductor Manu-facturing Co (台積電) shed 0.4 percent to NT$45.30. Nanya Technology Corp (南亞科技), the nation's third-largest memory-chip maker, lost 1 percent to NT$29.
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
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
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],”
MAJOR BENEFICIARY: The company benefits from TSMC’s advanced packaging scarcity, given robust demand for Nvidia AI chips, analysts said ASE Technology Holding Co (ASE, 日月光投控), the world’s biggest chip packaging and testing service provider, yesterday said it is raising its equipment capital expenditure budget by 10 percent this year to expand leading-edge and advanced packing and testing capacity amid strong artificial intelligence (AI) and high-performance computing chip demand. This is on top of the 40 to 50 percent annual increase in its capital spending budget to more than the US$1.7 billion to announced in February. About half of the equipment capital expenditure would be spent on leading-edge and advanced packaging and testing technology, the company said. ASE is considered by analysts