Taiwan stocks gained, led by banks, after CTB Financial Holding Co (
"Any financial merger news is good in general, plus banks are also actively writing off their bad loans," said Julian Chen, who helps manage NT$1 billion (US$29 million) in Taiwan equities at National Investment Trust Co. "It would be good to buy some financial stocks." The TWSE index added 47.55, or 0.8 percent, to 5711.53, its third rise in eight days, as three stocks gained for every one that fell. Some NT$92.2 billion in shares changed hands, 22 percent less than the three-month daily average.
CTB Financial surged NT$1.3, or 6.8 percent, to NT$20.5 while International Commercial shares added NT$0.80, or 3.7 percent, to NT$22.6. CTB Financial will merge with fellow state-backed lender International Commercial to form the island's largest publicly traded lender by assets, seeking to compete more effectively with rivals.
Au Optronics Corp (友達光電) rose NT$0.30 or 0.6 percent, to NT$49.8. The third-largest maker of flat-panel displays said that sales tripled in April to NT$7.5 billion, from NT$2.5 billion a year ago.
Formosa Plastics Corp (台塑) rose NT$1.6, or 4.3 percent, NT$39.1. The flagship of Taiwan's largest industrial group said April sales rose 19 percent to NT$5.96 billion from the previous year.
Macronix International Co (
Nanya Technology Corp (南亞科技), Taiwan's biggest computer memory-chip maker, tumbled NT$1.8, or 5.8 percent, to NT$29 after the price of its main product had its biggest drop in six weeks. The price of a standard 128-dynamic-random-access- memory-chip yesterday fell 4.5 percent, according to DRAM Exchange, a market place for memory chips.
Nan Ya Plastic Corp (南亞塑膠) rose NT$0.20, or 0.7 percent, to NT$30.3. The unit of Taiwan's largest industrial group posted a 15 percent sales increase in April from a year earlier.
Quanta Computer Inc (
Sunplus Technology Co (凌陽科技) gained NT$1, or 0.8 percent, to NT$124. Taiwan's largest designer of chips used to run cameras and toys reported sales in April rose 43 percent to NT$726.5 million, a monthly record.
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
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
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