Taiwan shares are expected to gain ground on improved sentiment in the week ahead after the market staged a strong showing yesterday with many investors rushing to pick up stocks at lows, dealers said.
The reduced uncertainty on possible military conflicts between the US and Iraq is also expected to court more investors to return to the trading floor, the dealers said.
TAIEX added 147.97, or 3.2 percent, to close at 4813.53. About 11 shares gained for each one that fell. Trading was worth NT$119.1 billion (US$3.4 billion).
"It has been positive for the market to score an expanded daily turnover of more than NT$100 billion (US$2.9 billion) later this week. More and more investors are willing to build up their positions at the moment," said Huang Kuo-wei, an analyst with Yuata Core Pacific Capital Management (
"Both institutional and retail investors have been active in the market, indicating sentiment is improving," Huang said.
Formosa Chemical & Fibre Corp (
Inventec Co (英業達) rose NT$0.60, or 2.9 percent, to NT$21.20. Taiwan's Ministry of Economic Affairs' Investment Commission approved the notebook computer maker's plan to invest NT$33.5 million in Shanghai.
Taiwan Cellular Corp (
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said second-quarter revenue is expected to surpass the first quarter, which rose 30 percent year-on-year to NT$118.92 billion (US$3.71 billion). Revenue this quarter is likely to grow, as US clients have front-loaded orders ahead of US President Donald Trump’s planned tariffs on Taiwanese goods, Delta chairman Ping Cheng (鄭平) said at an earnings conference in Taipei, referring to the 90-day pause in tariff implementation Trump announced on April 9. While situations in the third and fourth quarters remain unclear, “We will not halt our long-term deployments and do not plan to
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
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