In the wake of the government’s announcement of a plan to issue consumer vouchers to all Taiwanese citizens, stocks in the food, department store and consumer retail sectors — which are expected to benefit the most from the new plan — led the gains on the local bourse yesterday.
Food stocks including manufacturers Ve Wong Corp (味王), Charoen Pokphand Enterprise (Taiwan) Co (卜蜂), AGV Products Corp (愛之味), Lian Hwa Foods Corp (聯華食品) and Namchow Group (南僑集團) all saw their shares close limit-up on the Taiwan Stock Exchange yesterday.
Ve Wong rose to NT$11.6 from NT$10.85, Charoen Pokphand closed at NT$10.05 after closing at NT$9.42 yesterday and AGV Products closed at NT$5.5, compared with NT$5.16 — all three hitting the 7 percent daily maximum.
Share prices for Far Eastern Department Stores Ltd (遠東百貨), the nation’s only listed department store chain, jumped limit-up to NT$13.8 at the start of trading yesterday, while local conglomerate Mercuries & Associates Ltd (三商行), and the leading retailer of children’s garments, Les Enphants Co (麗嬰房), were trading limit-up by midday.
The announcement also helped bolster share prices of the country’s two largest consumer electronics retailers — Tsann Kuen Enterprise Co (燦坤實業) and E-Life Mall Corp (全國電子), which both closed limit-up for the second straight day.
After the Cabinet announced yesterday that the issuance of consumption vouchers would not be limited to lower-income households, department store retailers began to map out strategies to grab a piece of the pie.
To take advantage of the opportunity, department store operators in Taiwan are considering models similar to the successful “Fortune Bags” (福袋) model used during the Lunar New Year holiday, when the stores hand out gift bags to consumers who spend a certain amount of money.
As to what consumers will do with their vouchers, hypermarket and department store chain operators believe they will mostly spend on daily necessities, while home appliance retailers are upbeat about sales of items priced around NT$1,000.
Pacific Sogo Department Stores (太平洋崇光百貨) predicted that consumers would likely use their vouchers around the Lunar New Year holiday and spend on a variety of products and services including supermarket goods, dining, home appliances, consumer electronics, stationery, children’s apparel, women’s seasonal clothing and accessories, health products, down jackets and bed comforters.
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
RSS