Shares rise on regional gains
Share prices closed up 0.79 percent yesterday, their fifth consecutive rise, following gains in regional markets, dealers said.
The TAIEX rose 62.04 points to 7,963.54 on turnover of NT$142.46 billion (US$4.42 billion).
The weighted index could challenge the key 8,000-point level today, Hua Nan Securities (華南證券) trader Stan Chang said.
“Investors are highly alert as TAEIX approaches 8,000,” he said. “As heavyweight large-cap stocks have gained for some time, funds may start to rotate to smaller stocks.”
Investment rules under review
The government will review regulations on Chinese investment and may open up more industries next month in yet another move to forge closer economic ties, Industrial Development Bureau chief Woody Duh (杜紫軍) said yesterday.
“Chinese investors want to enter sectors such as liquid-crystal displays, steel and telecommunications, and we’ll take this into consideration,” Duh said.
His comment came after a high-level cross-strait meeting in Taichung, which Taipei hopes will help attract more Chinese investors.
The government partially lifted its decades-old ban on investment by Chinese companies or individuals in June.
Under the new measures, Chinese investors are permitted to buy into 100 categories in the manufacturing, service and infrastructure sectors.
As of this month, Chinese firms had invested NT$1.19 billion in Taiwan, the Straits Exchange Foundation said.
Meanwhile, China said yesterday it would slap anti-dumping penalties on a chemical imported from Saudi Arabia and Taiwan after an investigation found the product had been priced too low.
The Commerce Ministry in Beijing said it would impose tariffs of up to 13.6 percent on imports of 1,4-Butanediol, a chemical used to make some plastics, elastic fiber and polyurethanes, as of today.
“The imported products were dumped [in China] and caused material damage to the 1,4-Butanediol industry in mainland China,” the ministry said in a statement posted on its Web site.
AmCham chairman reelected
The board of governors of the American Chamber of Commerce in Taipei (AmCham) reelected chairman Alan Eusden, president of Corning Display Technologies, yesterday to a second one-year term.
Upon the board’s approval, Eusden appointed Corning Painter of Air Products as the chamber’s standing vice chairman, George Chao (趙台生) of 3M Taiwan as vice chairman and Wang Li-shin of Johnson & Johnson Medical as its treasurer, the chamber said in a press statement.
‘Forbes’ ranks Asian cities
Forbes Asia, in its latest issue, listed Tokyo, Hong Kong and Beijing as the three most expensive Asian cities to live in, followed by Mumbai, Shanghai and Seoul.
Citing Mercer’s survey, the magazine said the monthly rental of a high-end two-bedroom apartment in Tokyo was US$4,737, followed by US$3,871 in Hong Kong, US$3,659 in Beijing, US$3,514 in Mumbai, US$2,927 in Shanghai and US$2,828 in Seoul.
Taipei was ranked the 16th-most expensive city, with a monthly rental of a high-end two-bedroom apartment at US$1,065.
But the magazine also added that property prices in Mumbai, Singapore and Taipei had seen the biggest hikes in the past year among its peers.
NT dollar gains
The New Taiwan dollar yesterday gained by NT$0.060 to close at NT$32.300 against the greenback on turnover of US$783 million.
HSBC Holdings PLC is deepening its commitment to Taiwan as the economy emerges as one of the bank’s fastest-growing markets globally, driven by an artificial intelligence (AI) investment boom, expanding cross-border trade, and rising wealth creation. “The advantage that Taiwan has is a growth story linked to the semiconductor and broader AI industries, strong underlying corporate performance, and wealth creation,” said Surendra Rosha, HSBC’s co-chief executive for Asia and the Middle East, in an exclusive interview with the Taipei Times on June 2, during this year’s HSBC Taiwan Conference. That combination has helped HSBC cement its position as the most profitable international
The New Taiwan dollar yesterday fell sharply against the US dollar to close at its lowest level since May 22 amid a massive outflow of funds from the country because of investors panicking over global equity markets. The NT dollar ended at NT$31.580 against the US dollar, slightly lower than its close of NT$31.568 on May 22, after moving between NT$31.5 and NT$31.648 on combined turnover of US$3.062 billion on the Taipei Foreign Exchange and the Cosmos Foreign Exchange. The NT dollar received a significant hit in the morning session, slumping as much as NT$0.173 at a time when other Asian currencies
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is now ranked ninth among the world’s 100 most valuable companies after its market capitalization more than doubled over the past year, PricewaterhouseCoopers (PwC) Taiwan said in a report last month. TSMC’s market capitalization surged 101 percent year-on-year to US$1.427 trillion as of March 31, the accounting and consulting firm’s 2026 Global Top 100 Companies by Market Capitalization report said. The gain catapulted the world’s largest contract chipmaker from 12th place to ninth in the rankings, and it was the fastest-growing among the global top 10, it said. TSMC was the only Taiwanese company among the top
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported record revenue of NT$416.975 billion (US$13.17 billion) for last month, putting the world’s largest contract chipmaker on track to set a record for quarterly revenue. Last month’s figure surpassed March’s record NT$415.19 billion and represented increases of 1.5 percent from April and 30.1 percent from a year earlier. For the first five months of the year, TSMC generated NT$1.96 trillion in revenue, up 30 percent year-on-year, it said in a statement. TSMC has forecast second-quarter revenue of between US$39 billion and US$40.2 billion, representing sequential growth of about 10 percent and year-on-year growth of about
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