Taiwan shares closed up 0.28 percent yesterday in thin trading following Wall Street’s overnight gains, dealers said.
The weighted index rose 12.4 points to 4,366.1 on turnover of NT$33.57 billion (US$1.02 billion).
The market opened yesterday to make up for fewer trading days later this month because of the Lunar New Year holidays.
Gainers led losers by 725 to 711 with 293 stocks unchanged.
A total of 14 shares closed limit-up 7 percent, against 11 that were limit-down.
Plastics rose 1.74 percent and financials gained 1.4 percent, while tourism shed 1.19 percent and electronics lost 0.21 percent.
KGI Securities (凱基證券) trader Randy Chang expected shares to continue consolidating next week before markets close on Thursday for Lunar New Year until Feb. 1.
“Investors generally have squared their positioned and are just on the sidelines before the long holiday,” he said.
AU Optronics Corp (友達光電) added 0.4 percent to NT$24.50 and Chi Mei Optoelectronics Corp (奇美電子) gained 6.8 percent to NT$11 after Taiwan’s largest liquid-crystal-display producers said they extended supply agreements with Chinese television makers, benefiting from China’s policy of subsidizing electrical appliances bought by its farmers.
HTC Corp (宏達電) gained 0.3 percent to NT$317 after the world’s largest maker of handsets using Microsoft Corp and Google Inc operating systems said revenue would climb at least 10 percent this year as sales of Microsoft-based phones continue to outpace those using the rival Google software.
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
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FUTURE PLANS: Although the electric vehicle market is getting more competitive, Hon Hai would stick to its goal of seizing a 5 percent share globally, Young Liu said Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler and supplier of artificial intelligence (AI) servers powered by Nvidia Corp’s chips, yesterday said it has introduced a rotating chief executive structure as part of the company’s efforts to cultivate future leaders and to enhance corporate governance. The 50-year-old contract electronics maker reported sizable revenue of NT$6.16 trillion (US$189.67 billion) last year. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), has been under the control of one man almost since its inception. A rotating CEO system is a rarity among Taiwanese businesses. Hon Hai has given leaders of the company’s six