Stocks slid for a sixth day in seven, paced by Taiwan Semiconductor Manufacturing Co (TSMC,
"The bad Christmas shopping season means companies will delay placing new orders as they work down inventories," said Belinda Yu, who helps manage NT$8 billion (US$230 million) in shares at Jih Sun Securities Investment Trust Co (
Wan Hai Lines Ltd (萬海航運) gained after the island's second-largest shipping company by market value raised its profit forecast for the year by half. Wan Hai Lines jumped NT$1.40, or 5.3 percent, to NT$28.
The cement sector attracted bargain-hunting interest due to product price hikes, while the auto sector came in for profit-taking after solid gains.
Taiwan Cement Corp (台泥) rose NT$0.15, or 1.5 percent, to NT$10.45. The cement-maker plans to raise prices by 8 percent starting tomorrow, a Chinese-language newspaper said.
China Motor Co (
"Some fund managers are defending their holdings while rivals tried to drag down others' holdings in a competition for fund performance," Grand Cathay Securities (
"Such seesawing is a common practice on the last trading session of the year as securities investment trust funds calculate funds' performance based on stocks' closing levels for the year."
TAIEX shed 5.30, or 0.1 percent, to close at 4452.45, its lowest since Oct. 22. The benchmark fell 20 percent this year and has dropped 47 percent in the last three years.
TSMC shed NT$0.60, or 1.4 percent, to NT$42.60. The chipmaker's shares tumbled 16 percent this month on concern orders may slow after the holiday season.
Within the index, more than three stocks rose for every two that fell. The total value of trade was NT$40.08 billion, the lowest since Oct. 7.
Realtek Semiconductor Corp (瑞昱) lost NT$1.50, or 1.6 percent, to NT$90 after the chip designer lowered its sales forecast for December by a 10th to NT$670 million. Silicon Integrated Systems Corp (矽統) slipped NT$0.90, or 3.3 percent, to NT$26.50.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
SK Hynix Inc warned of increased volatility in the second half of this year despite resilient demand for artificial intelligence (AI) memory chips from big tech providers, reflecting the uncertainty surrounding US tariffs. The company reported a better-than-projected 158 percent jump in March-quarter operating income, propelled in part by stockpiling ahead of US President Donald Trump’s tariffs. SK Hynix stuck with a forecast for a doubling in demand for the high-bandwidth memory (HBM) essential to Nvidia Corp’s AI accelerators, which in turn drive giant data centers built by the likes of Microsoft Corp and Amazon.com Inc. That SK Hynix is maintaining its
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