Share prices closed 1.55 percent higher yesterday, recovering from early losses as investors adjusted positions ahead of the April futures contract expiry today, dealers said.
They said late-session gains reversed an early market fall triggered by Wall Street's overnight weakness.
The TAIEX added 109.04 points at 7,168.98. Turnover amounted to NT$124.16 billion (US$3.88 billion).
Risers led decliners 669 to 214, with 99 stocks unchanged.
"Futures on the MSCI Taiwan index will be settled tomorrow, and contract holders apparently were bullish about the spot shares today," said Grand Cathay Investment Services Corp (大華投顧) chairman Tu Jin-lung (杜金龍).
"Rotational buying among various sectors, backed by ample liquidity" also highlighted today's trading, he said.
United Microelectronics Corp (聯電) rallied 2.1 percent to NT$22.30 after a report that it had secured a contract from NVIDIA Corp to supply advanced graphic chips. Taiwan Semiconductor Manufacturing Co (台積電) rose 3 percent to NT$69.
Acer Inc rose 0.51 percent to NT$59.90 following disclosure that it expects an capital gain of NT$698.28 million from selling 50 million shares in BenQ Corp (明基) at an average price of NT$26.39 per share on April 25. BenQ fell 0.56 percent to NT$26.90.
On the Taipei foreign exchange market, the New Taiwan dollar fell from its highest level in more than three months yesterday on US dollar demand by oil firms and insurers, dealers said.
The local currency ended NT$0.059 lower at NT$32.052 against the greenback, on turnover of US$971 million.
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
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],”
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
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day