Stocks rose for a fourth day yesterday as the number of new SARS cases fell to the lowest in two weeks and some investors judged the impact of the disease on the nation's economy would soon come to an end.
Cathay Financial Holding Co (
"Investors are sick of talking about SARS," said Liu Juming, who manages the equivalent of US$144 million at Fuh-Hwa Investment Trust Co (
"Businesses are returning to normal," he said.
Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電) and other exporters advanced after a US manufacturing report suggested a recovery in the world's largest economy is gaining momentum.
The TAIEX added 137.04, or 3 percent, to 4,692.94, the biggest gain since April 5. Almost nine shares rose for each one that fell. Turnover was NT$107.0 billion (US$3.1 billion).
The Taiwan Futures Index added 3.4 percent to 4,665.
Cathay Financial, the owner of the nation's largest life insurer, added NT$0.60, or 1.5 percent, to NT$41.10.
Last month, Taiwan lowered its GDP growth estimate for this year to 2.89 percent from 3.68 percent as SARS disrupted ties between its companies and their plants in China and shoppers stayed at home to avoid catching the disease.
TSMC rose NT$3, or 5.6 percent, to NT$56.50.
United Microelectronics Corp (UMC,
UMC shares gained NT$1.5, or 6.9 percent, at NT$23.30.
MediaTek Inc (
Makers of the flat panels used as screens in notebook computers were also stronger. AU Optronics (
Formosa Plastics Corp (
Group sales will reach a record NT$1 trillion in two years, making it the nation's largest business group, a local newspaper reported, citing no one.
Nan Ya Plastics Corp (
Taiwan Cement Corp (
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
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
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
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