Share prices closed slightly lower yesterday on profit-taking in line with Wall Street's fall on Friday, although the decline was offset by some foreign interest, dealers said.
Petrochemical and cement stocks came under selling pressure, while the tourism sector rallied as investors hoped the upcoming meetings between the Chinese Communist Party (CCP) and the Chinese Nationalist Party (KMT) would lead to the relaxation of tourism-related rules, they said.
Thin-film-transistor liquid crystal display makers were in focus following the AU Optronics Corp (
The weighted index closed down 1.30 points at 6,780.64, off a low of 6,758.07 and a high of 6,815.73, on turnover of NT$91.99 billion (US$2.84 billion).
The petrochemical sector was down 0.69 percent, the cement sector down 0.56 percent, while the tourism sector was up 1.94 percent and the steel sector up 1.92 percent.
Fubon Securities (富邦證券) senior vice president Frank Lin said investors decided to lock in profits after seeing Wall Street's weak performance on Friday.
"The lead from Wall Street set the tone for the local bourse and convinced investors to take profit," Lin said.
But he added that foreign investor interest in some heavyweight stocks helped offset some of the market's losses.
Some companies reported strong sales for last month and bolstered investor sentiment toward their stocks, he said.
In the tourism sector, Hotel Holiday Garden (
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],”