Domestic stocks climbed after Chinese Nationalist Party (KMT) presidential candidate Ma Ying-jeou (
Ma was accused of misusing NT$11.2 million ($339,743) of city funds while he was mayor of Taipei. The Taiwan High Court ruled on appeal that he was not guilty of the charges.
"The verdict is a great relief for investors," said Tracy Chen (
futures gain
The benchmark TAIEX climbed 83.23, or 1 percent, to close at 8,396.95 in Taipei. The index gained 5.7 percent this week, its biggest weekly increase since the five days ended Aug. 24. Futures due in January added 0.8 percent. The index has risen 7.3 percent so far this year, compared with a 19 percent advance last year.
Farglory Land Development Co (
Farglory, the nation's biggest construction company by market value, climbed NT$3.50, or 4.8 percent, to NT$77. Cathay Real Estate Development Co (國泰建設), the second-largest, gained NT$0.35, or 2.4 percent, to NT$15.
A measure of 32 property developers rose 5.3 percent, the second-biggest gainer among 28 industry groups after glassmakers. Taiwan Glass Industrial Corp (
Formosa International, the nation's largest hotel operator, rose NT$10, or 3.6 percent, to NT$290. Uni-President Enterprises Corp (
financials
In the financial segment, Taishin Financial Holding Co. (
Taishin's board approved the offer and the proposed exchange ratio is pending consultation with Chang Hwa, Taishin said in a filing to the stock exchange yesterday.
Chang Hwa rose NT$0.35, or 2 percent, to NT$17.60.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
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