Taiwan stocks rose, paced by TaipeiBank (台北銀行), after Fubon Financial Holding Co (富邦金控) said it will pay NT$80.3 billion in new shares to take over the lender controlled by the city government.
Stocks also gained after the Dow Jones Industrial Average and Standard & Poor's 500 Index had their biggest three-day rallies in almost 15 years.
The TAIEX rose 151.21, or 3.2 percent, to 4851.44, as almost 14 stocks rose for every one that fell. The benchmark fell 1.4 percent in the week. The total volume of trade today was NT$82.84 billion, the highest this month.
TaipeiBank rose by its 6.9 percent daily limit, to NT$30.90. Fubon was unchanged at NT$32.8.
"That'll lift TaipeiBank's shares, though for Fubon the benefits will take longer to show," said David Chu, who manages NT$700 million in stocks at Reliance Securities Investment Trust Co (德信投信). "I'm buying a few financial stocks, but I'm focusing on electronics stocks. Demand should start reviving at the end of the third quarter and into the fourth quarter."
Micro-Star International Co (微星電腦) rose NT$3.50, or 3.6 percent, to NT$101. Taiwan's second-largest maker of motherboards reported sales in July rose 58 percent from a year earlier and a fifth from the previous month to NT$4.89 billion.
Gigabyte Technology Co (技嘉科技) rose NT$4, or 5.4 percent, to NT$78.50. The motherboard maker said sales in July rose 10 percent on year and 7 percent from June to NT$2.2 billion.
Arima Computer Corp (華宇電腦) rose NT$0.80, or 4.5 percent, to NT$18.50. The notebook-computer maker reported July sales more than doubled from a year earlier.
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing
TARIFF TRADE-OFF: Machinery exports to China dropped after Beijing ended its tariff reductions in June, while potential new tariffs fueled ‘front-loaded’ orders to the US The nation’s machinery exports to the US amounted to US$7.19 billion last year, surpassing the US$6.86 billion to China to become the largest export destination for the local machinery industry, the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會) said in a report on Jan. 10. It came as some manufacturers brought forward or “front-loaded” US-bound shipments as required by customers ahead of potential tariffs imposed by the new US administration, the association said. During his campaign, US president-elect Donald Trump threatened tariffs of as high as 60 percent on Chinese goods and 10 percent to 20 percent on imports from other countries.
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