Shares closed little changed yesterday in cautious trade, as investors took their lead from Wall Street's lackluster overnight performance ahead of the release of US jobs data, dealers said.
They said concerns over political bickerings during next week's National Day celebrations also drove some investors to the sidelines.
The TAIEX closed down 10.13 points, or 0.11 percent, at 9,617.26 on turnover of NT$158.04 billion (US$4.85 billion).
Decliners outnumbered risers 770 to 1,104, with 221 stocks unchanged.
On the foreign exchange market, the New Taiwan dollar closed the day's trading at NT$32.597 against its US counterpart, up NT$0.002 from the previous close of NT$32.599. Turnover was US$556 million on the Taipei Forex Inc.
The market sentiment was also weighed by uncertainty over whether local companies would be reporting positive results for last month and the third quarter. Companies are due to report their September sales by this Thursday and third-quarter results by the end of the month.
Jih Sun Securities Investment (日盛投顧) deputy manager Wilson Lien (連偉勝), however, said that barring major negative surprises from the US later this week, the market may be ready for another upswing in the near term, with technology and financial stocks likely to lead the rally to drive the benchmark index beyond its year-to-date high of 9,807 points.
For the week to Friday, the weighted index rose 140.74 points, or 1.49 percent, after a 4.08 percent increase a week earlier.
Average daily turnover stood at NT$181.54 billion, up from NT$159.32 billion a week ago.
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
Qualcomm Inc is strengthening its partnerships with Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and original design manufacturers (ODMs) in Taiwan as it expands its presence in the artificial intelligence (AI) computer market, CEO Cristiano Amon said in Taipei yesterday ahead of the annual Computex trade show. “Historically we’ve always been a very big customer of TSMC, and we continue to be,” Amon said during a media Q&A session. “For chip manufacturing, we’re among the largest fabless [semiconductor designers],” he said, noting that Qualcomm, a leading provider of mobile and AI-enabled chipsets, ships about 40 billion components every year, with TSMC being
‘FAILED EXPORT CONTROLS’: Jensen Huang said that Washington should maximize the speed of AI diffusion, because not doing so would give competitors an advantage Nvidia Corp cofounder and chief executive officer Jensen Huang (黃仁勳) yesterday criticized the US government’s restrictions on exports of artificial intelligence (AI) chips to China, saying that the policy was a failure and would only spur China to accelerate AI development. The export controls gave China the spirit, motivation and government support to accelerate AI development, Huang told reporters at the Computex trade show in Taipei. The competition in China is already intense, given its strong software capabilities, extensive technology ecosystems and work efficiency, he said. “All in all, the export controls were a failure. The facts would suggest it,” he said. “The US
NEW PRODUCTS: MediaTek has been diversifying its product lines to minimize operational risks as mobile chips remain the company’s biggest revenue source MediaTek Inc (聯發科), the world’s biggest supplier of smartphone chips, yesterday said the tape-out process for its first 2-nanometer chip would take place in September, paving the way for volume production of its most advanced chip, likely to be its next-generation flagship smartphone chip, around the year-end at the earliest. MediaTek has been leveraging advanced process technologies from its foundry partner, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to build its flagship mobile phone chips, a segment it once relinquished and then recovered four years ago as it released its Dimensity series. In the semiconductor industry, a tape-out refers to the
RSS