Stocks rose, led by Taiwan Semi-conductor Manufacturing Co (TSMC, 台積電) and the nation's largest companies, as US-led forces moved closer to Iraq's capital, fueling optimism the military conflict will end soon.
"A prolonged war is bad for the economy, so a quick end will win back confidence both in consumers and the markets," said Tan Choon Hoe, a director and fund manager at AIB Govett Asia Ltd in Singapore.
Tan declined to say how much he manages.
Asustek Computer Inc (華碩電腦) advanced after the Digitimes news-paper said one unit will boost shipments in the second quarter.
The TAIEX jumped 46.83, or 1.1 percent, to close at 4358.39 on turnover of NT$40.69 billion (US$1.17 billion). About three shares climbed for each one that fell.
MSCI Taiwan futures for April delivery in Singapore added 1.3 percent to 186. The Taiwan Futures Index gained 1 percent to 4338.
Uncertainties surrounding the war and the impact of SARS on the economy prompted short-term trading, analysts said.
TSMC, the world's biggest supplier of made-to-order chips, climbed NT$1.10, or 2.6 percent, to NT$43.90. Asustek gained NT$2, or 2.9 percent, to NT$70.
Compal Electronics Inc (仁寶電腦), the world's second-biggest maker of notebook computers, added NT$0.10, or 0.3 percent, to NT$35.60.
The company said sales in March rose 20 percent to NT$10.7 billion (US$308 million), a local newspaper reported, citing the company.
Sales in the first quarter grew 26 percent to NT$30.5 billion from the same period a year ago, the newspaper said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
WORLD DOMINATION: TSMC’s lead over second-placed Samsung has grown as the latter faces increased Chinese competition and the end of clients’ product life cycles Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) retained the No. 1 title in the global pure-play wafer foundry business in the third quarter of this year, seeing its market share growing to 64.9 percent to leave South Korea’s Samsung Electronics Co, the No. 2 supplier, further behind, Taipei-based TrendForce Corp (集邦科技) said in a report. TSMC posted US$23.53 billion in sales in the July-September period, up 13.0 percent from a quarter earlier, which boosted its market share to 64.9 percent, up from 62.3 percent in the second quarter, the report issued on Monday last week showed. TSMC benefited from the debut of flagship
A former ASML Holding NV employee is facing a lawsuit in the Netherlands over suspected theft of trade secrets, Dutch public broadcaster NOS said, in the latest breach of the maker of advanced chip-manufacturing equipment. The 43-year-old Russian engineer, who is suspected of stealing documents such as microchip manuals from ASML, is expected to appear at a court in Rotterdam today, NOS reported on Friday. He is accused of multiple violations of the sanctions legislation and has been given a 20-year entry ban by the Dutch government, the report said. The Dutch company makes machines needed to produce high-end chips that power
Taiwan would remain in the same international network for carrying out cross-border payments and would not be marginalized on the world stage, despite jostling among international powers, central bank Governor Yang Chin-long (楊金龍) said yesterday. Yang made the remarks during a speech at an annual event organized by Financial Information Service Co (財金資訊), which oversees Taiwan’s banking, payment and settlement systems. “The US dollar will remain the world’s major cross-border payment tool, given its high liquidity, legality and safe-haven status,” Yang said. Russia is pushing for a new cross-border payment system and highlighted the issue during a BRICS summit in October. The existing system
RSS