Stocks fell for a sixth session yesterday after the government said exports in June declined for a fourth month and may not grow until next year. Via Technologies Inc (
The TAIEX fell 40.59, or 0.9 percent, to 4,616.71, its lowest this year. Within the index, 216 stocks rose, 159 fell, and 132 were unchanged. Trade at NT$35.3 billion (US$1 billion) was 55 percent lower than the six-month daily average of NT$78.5 billion.
Exports in June fell 16.6 percent from a year earlier to US$10.3 billion, the ministry of finance said. Imports fell 25.2 percent to US$8.6 billion.
"The second quarter was clearly rough and probably the worst for the year," said Michael Yeh, who manages NT$400 million in Taiwan stocks at United Securities Investment Trust Corp (
Government buying of the market's biggest companies such as Taiwan Semiconductor Manu-facturing Co (
"Trade volume is quite low, so the government could be buying Chunghwa Telecom, TSMC and UMC," Yeh said.
Companies that make parts for or compete with Advanced Micro Devices Inc fell after the second-largest maker of chips, which store data while cellphones and other devices are shut off, said demand fell more than expected in the second quarter. VIA Technologies, which makes chips that support Advanced Micro's processors, fell NT$5, or 2.3 percent, to NT$214. Macronix International Co (
Some of the market's biggest companies rose on government buying, investors said. The government manages a NT$500 billion stock market stabilization fund.
TSMC rose NT$0.50, or 0.8 percent, to NT$61.50. Separately, the company said it earned a net profit in the quarter ended June. The biggest made-to-order chipmaker said sales in June fell 29 percent on year to NT$8.5 billion.
United Microelectronics Corp (
The second-biggest made-to-order semiconductor maker reported lower-than-expected sales last month. UMC said June sales fell 52 percent on year to NT$4.2 billion.
Chunghwa Telecom Co Ltd. (
The computer maker said sales last month fell by a third from a year ago to NT$6.1 billion as demand slowed.
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
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft