Taiwan stocks rose yesterday for the first time since Monday, led by Hon Hai Precision Industry Co (鴻海精密) and other computer parts makers. The stocks rose on optimism that demand for the nation's biggest export market may recover sooner than expected after the US' latest economic report.
The TWSE Index rose 26.20, or 0.7 percent, to 3929.69. Within the index, 228 stocks rose, and 181 fell. The total value of trade was NT$49.4 billion (US$1.4 billion), 7 percent higher than the six-month daily average of NT$46.3 billion.
"PC demand is no longer getting worse," said Yu Wei-kuo, who manages NT$130 million (US$4 million) in stocks at Polaris Investment Trust Co (寶來投信). "Demand is very slowly returning, and when it normalizes, related component demand will rise." Personal computer and PC part makers rose on optimism that demand may start to revive as a smaller-than-expected economic contraction in the US may prompt consumers to spend more.
Hon Hai rose NT$5, or 3.9 percent, to NT$133. The company, which is the only supplier of a socket used to connect Intel Corp's latest processor to computer circuit boards, filed a lawsuit against Tyco International Ltd (台灣泰科). Hon Hai accused Tyco, the biggest maker of electrical connectors, of alleged infringements of its socket patent rights.
Asustek Computer Inc (華碩電腦), Taiwan's largest motherboard maker, rose NT$3, or 2.5 percent, to NT$121. Quanta Computer Inc (廣達電腦), Taiwan's largest notebook computer maker, rose NT$0.50, or 0.7 percent, to NT$74.50. Finance companies fell on concern the establishment of financial holding companies won't resolve quickly the problems of overbanking and rising bad loan rates among the nation's lenders.
Non-performing loan rates could rise above 20 percent, according to rating agency Fitch.
Hua Nan Commercial Bank (華南銀行), Taiwan's second- largest lender by assets, fell NT$0.20.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique