Share prices closed little changed yesterday as early gains propelled by Wall Street's gains on Friday gave way to lingering concerns about the stance of foreign investors, dealers said.
They said the technology sector benefited from a report that the Cabinet is unlikely to tax overseas investors on gains made on equities and that central bank Governor Perng Fai-nan (
Asset-backed stocks, on the other hand, encountered profit-taking pressure following their previous strong showing.
The TAIEX closed down 0.63 points at 6,878.88, on turnover of NT$82.97 billion (US$2.59 billion). The index was in positive territory until minutes before the market closed, and hit an intraday high of 6,919.96.
Decliners outnumbered gainers 442 to 317, with 122 stocks unchanged.
Fubon Securities Co (富邦證券) senior vice president Frank Lin said there was a lack of fresh major leads coupled with thin turnover.
"There were no major factors to set the direction for Taipei stocks and the market was clouded by lingering concerns," he said.
Uncertainties about hedge funds' moves in Asia, US interest rates and inflation continued to cast a shadow over the local bourse, he said. Shares also ended lower because of today's futures settlement.
"The majority of the futures contracts were short on the index, so they sold shares, especially index heavyweights, on the spot market," said Bill Huang, a trader at KGI Securities Co (中信證券).
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
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
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last