The TAIEX rose to a 21-month high in the first trading day since the market closed for the Lunar New Year holiday on Jan. 19.
Taiwan Semiconductor Manufacturing Co (TSMC) led gains on optimism fourth-quarter profit probably jumped six-fold as the global electronics industry rebounded from a three-year slump, according to analysts polled by Bloomberg News.
The TAIEX rose 114.92, or 1.8 percent, to 6,384.63, the highest since April 24, 2002. About seven stocks gained for every one that fell. The Taiwan Futures Index added 1.4 percent to 6,370.
The TAIEX Electronics Index was the biggest gainer as a group. Shares rose after Texas Instruments Inc, the world's biggest maker of semiconductors that power mobile phones, said it had a fourth-quarter profit of US$512 million as the company had its highest sales in three years.
About 6.1 billion shares changed hands, 59 percent above average daily trading in the past three months. Shares worth NT$140 billion (US$4.17 billion) traded, 67 percent above the three- month daily average.
``Many investors believe they will have better luck with stocks in the new year and bought shares on the first trading day,'' Simon Chao (趙永宏), who manages US$17 million at President Investment Trust Corp.
China Airlines gained NT$1.10, or 6.6 percent, to NT$17.80. Fourth-quarter profit jumped 49 percent after demand for travel recovered following the containment of the SARS virus and exports of consumer-electronic components rose, the company said on Jan. 19.
Profit climbed to about NT$1.29 billion in the last three months of the year, from NT$865 million a year earlier.
China Motor Corp rose NT$1, or 1.7 percent, to NT$61. Southeast Motor Co, a car-making venture between China Motor and the government of Fujian Province, plans to increase sales by 80 percent to as many as 150,000 cars this year in China, where total demand is forecast at 5 million vehicles, the company said on Jan. 20. Southeast Motor's sales last year rose to 83,533 vehicles from 47,068 in 2002.
D-Link Corp, a communications-equipment maker, gained NT$1.70, or 3.9 percent, to NT$45.30.
VIA Technologies shed NT$1.70, or 3.6 percent, to NT$46.
EVA Airways Corp rose NT$1, or 6.4 percent, to NT$16.60. Fourth quarter net income jumped to NT$1.84 billion from NT$566 million a year ago, helped by accelerating exports and the return of travelers after the containment of SARS, the company said on Jan. 19.
Sales climbed 6.8 percent to NT$19.1 billion, according to preliminary revenue figures on the Taiwan Stock Exchange Web site.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
SHOT IN THE ARM: The new system can be integrated with Avenger and Stinger missiles to bolster regional air defense capabilities, a defense ministry report said Domestically developed Land Sword II (陸射劍二) missiles were successfully launched and hit target drones during a live-fire exercise at the Jiupeng Military Base in Pingtung County yesterday. The missiles, developed by the Chungshan Institute of Science and Technology (CSIST), were originally scheduled to launch on Tuesday last week, after the Tomb Sweeping Day holiday long weekend, but were postponed to yesterday due to weather conditions. Local residents and military enthusiasts gathered outside the base to watch the missile tests, with the first one launching at 9:10am. The Land Sword II system, which is derived from the Sky Sword II (天劍二) series, was turned