Stocks declined 1 percent to close at 8,680.11 yesterday in Taipei on concerns an increase in Chinese interest rates and cooling lending there could slow growth and demand in Taiwan's largest export destination.
"The slowdown in China's economy has been overdue," said Albert King, who manages US$10 million at Prophet Capital Inc in Taipei. "It'll have a direct impact on Taiwan's industrial companies as customers slow procurement."
Nan Ya Plastics Corp (
Nan Ya Plastics slid NT$5.20, or 5.9 percent, to NT$82.30, the largest slide since July 11.
Formosa Petrochemical fell NT$2.70, or 2.8 percent, to end at NT$92.80.
AU Optronics Corp (AUO, 友達光電), Taiwan's largest maker of flat-panel displays, rose NT$0.50, or 0.8 percent, to NT$63.10, while affiliate Qisda Corp (佳世達) added NT$0.70, or 1.8 percent, to NT$39 after the China Times said on Saturday that chairman Lee Kun-yao (李焜耀) predicted group sales would rise 30 percent next year with all units being profitable.
AUO hasn't made any forecasts for next year's sales, the company said in statement filed to the exchange during trading yesterday.
High Tech Computer Corp (宏達電), the world's largest maker of handsets using Microsoft Corp's Windows operating system, rose NT$6, or 1 percent, to NT$628 after Merrill Lynch & Co added the firm to its Asia-Pacific Focus 1 list of top stocks to buy.
United Microelectronics Corp (
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
Industrial production expanded 22.31 percent annually last month to 107.51, as increases in demand for high-performance computing (HPC) and artificial intelligence (AI) applications drove demand for locally-made chips and components. The manufacturing production index climbed 23.68 percent year-on-year to 108.37, marking the 14th consecutive month of increase, the Ministry of Economic Affairs said. In the first four months of this year, industrial and manufacturing production indices expanded 14.31 percent and 15.22 percent year-on-year, ministry data showed. The growth momentum is to extend into this month, with the manufacturing production index expected to rise between 11 percent and 15.1 percent annually, Department of Statistics
An earnings report from semiconductor giant and artificial intelligence (AI) bellwether Nvidia Corp takes center stage for Wall Street this week, as stocks hit a speed bump of worries over US federal deficits driving up Treasury yields. US equities pulled back last week after a torrid rally, as investors turned their attention to tax and spending legislation poised to swell the US government’s US$36 trillion in debt. Long-dated US Treasury yields rose amid the fiscal worries, with the 30-year yield topping 5 percent and hitting its highest level since late 2023. Stocks were dealt another blow on Friday when US President Donald
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