Shares rallied yesterday following overnight gains on Wall Street. The gains were led by financial, petrochemical and paper stocks.
The TAIEX rose 63.46 points, or 0.68 percent, to 9,354.41 on robust volume.
"There was healthy rotational buying today in financial and petrochemical stocks as technology names have risen a lot recently," HSBC Investments Service Taiwan fund manager Willie Shih said.
Shih said the increasing trading volume showed that the rally had not lost steam.
Approximately NT$233 billion (US$7.1 billion) worth of Taiwan stocks changed hands yesterday, an increase of 5.82 percent from the previous day's level, Taiwan Stock Exchange statistics showed.
SinoPac Securities (永豐金證券) assistant vice president Alvin Teng (鄧可欣) said that bullish prospects were being further bolstered by consensus among foreign and domestic investors that the government would introduce more market-friendly measures in the run-up to the parliamentary and presidential elections next year.
Last month alone, foreign investors injected a total of US$6.41 billion into the Taiwanese stock market, making it the third-highest monthly level on record, the Financial Supervisory Commission said yesterday.
With the continuing surge in share prices, foreign investors have continued to pump money into the market, the commission's Securities and Futures Bureau said. Foreign investors remitted US$1.13 billion into Taiwan in the first week of this month.
Since Taiwan opened to foreign institutional investors in the late 1990s, foreign investors have injected approximately US$143.42 billion, the bureau said.
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
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
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