Stocks rose for the first day in three yesterday. Hon Hai Precision Industry Co (
The TAIEX added 40.64, or 0.8 percent, to 5,255.24. Index futures expiring this month rose 0.3 percent to 5,265. About twice as many stocks gained as declined.
About 3.1 billion shares changed hands, 29 percent below the average daily trading in the past three months. The value of trading was NT$73 billion (US$2 billion), 24 percent below the three-month daily average.
Chen, who spoke Monday after the market closed, said next year's pace of growth will be faster than the government's 2.89 percent forecast for this year. The economy grew 3.54 percent last year.
"The Chen administration is determined to prop up the economy, so we can expect heavy government spending in the following months leading up to the election," said Mike Shiao, who manages the US$12 million Taiwan Select Growth Fund at Invesco Taiwan Ltd (景順投信), in Taipei.
His fund has gained 25 percent in the past three months, while the TAIEX has risen 23 percent.
Hon Hai, the nation's largest electronic maker, rose NT$3, or 2.5 percent, to NT$125.50.
Acer rose NT$0.80, or 1.7 percent, to NT$48.10.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
CUSTOMERS’ BURDEN: TSMC already has operations in the US and is a foundry, so any tariff increase would mostly affect US customers, not the company, the minister said Taiwanese manufacturers are “not afraid” of US tariffs, but are concerned about being affected more heavily than regional economic competitors Japan and South Korea, Minister of Economic Affairs J.W. Kuo (郭智輝) said. “Taiwan has many advantages that other countries do not have, the most notable of which is its semiconductor ecosystem,” Kuo said. The US “must rely on Taiwan” to boost its microchip manufacturing capacities, Kuo said in an interview ahead of his one-year anniversary in office tomorrow. Taiwan has submitted a position paper under Section 232 of the US Trade Expansion Act to explain the “complementary relationship” between Taiwan and the US
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