The TAIEX climbed for a second day yesterday, led by Cathay Financial Holding Co (
Improving economic prospects will boost returns on equity holdings and property asset values at Cathay's life insurance unit, said Aaron Wu, who manages a US$41 million equity fund at ABN Amro Asset Management Taiwan Ltd.
"Next year's outlook is still very positive for almost every industry," he said.
The TAIEX rose 6.97, or 0.1 percent, to 6,042.71. Almost three stocks fell for every two that gained. For the week, the index climbed 2.9 percent, its third weekly gain.
The futures contract for October delivery rose 0.3 percent to 6,080. The value of trade was NT$127.9 billion (US$3.8 billion).
Cathay Financial, owner of the country's largest life insurer, jumped NT$3, or 5.7 percent, to NT$56. Cathay Life Insurance Co (國泰人壽), Taiwan's largest life insurer and a unit of Cathay Financial, had NT$42.1 billion (US$1.2 billion) of short-term equity holdings as of March 31.
Yang Ming Marine Transport (陽明海運), Taiwan's biggest container shipper by market value fell 90 N.T. cents, or 2.6 percent, to NT$34.10. Yang Ming dropped after its relative strength index, which is derived by averaging out daily gains and losses, reached 72.65 yesterday.
A reading above 70 suggests prices are poised to fall.
China Steel Corp (中鋼), Taiwan's largest steelmaker, rose 0.4 percent to NT$27.30. The Taiwan government said yesterday it raised US$815 million from its sale of an 11 percent stake in China Steel. The government sold 52.4 million global depositary receipts, each worth 20 locally traded shares, at US$15.56 apiece. That represented a 3 percent discount to the stock's local close yesterday.
Chinatrust Financial Holding Co (中信金控), Taiwan's largest privately owned lender, rose 80 cents, or 2.4 percent, to NT$33.80 on news that Chinatrust aims to double its domestic market share within five years before it attempts to expand outside Taiwan.
Powerchip Semiconductor Corp (
Apple Inc increased iPhone production in India by about 53 percent last year and now makes a quarter of its marquee devices there, reflecting the US company’s efforts to avoid tariffs on China. The company assembled about 55 million iPhones in India last year, up from 36 million a year earlier, people familiar with the matter said, asking not to be named because the numbers aren’t public. Apple makes about 220 million to 230 million iPhones a year globally, with India’s share of the total increasing rapidly. Apple has accelerated its expansion in the world’s most populous country in recent years, bolstered
HEADWINDS: The company said it expects its computer business, as well as consumer electronics and communications segments to see revenue declines due to seasonality Pegatron Corp (和碩) yesterday said it aims to grow its artificial intelligence (AI) server revenue more than 10-fold this year from last year, driven by orders from neocloud solutions clients and large cloud service providers. The electronics manufacturing service provider said AI server revenue growth would be driven primarily by the Nvidia Corp GB300 server platform. Server shipments are expected to increase each quarter this year, with the second half likely to outperform the first half, it said. The AI server market is expected to broaden this year as more inference applications emerge, which would drive demand for system-on-chip, application-specific integrated circuits
Chinese entrepreneur Frank Gao used to spend long hours running his social media accounts but now outsources the chore to artificial intelligence (AI) agent tool OpenClaw, which is taking China by storm despite official warnings over cybersecurity. OpenClaw, created in November by an Austrian coder, differs from bots such as ChatGPT because it can execute real-life tasks such as sending e-mails, organizing files or even booking flight tickets. “Since January, I’ve spent hours on the lobster every day,” Gao said in an interview, referring to OpenClaw’s red crustacean mascot. “We’re family.” After downloading OpenClaw, users connect it to artificial intelligence models of their
PROJECTION: TSMC said it expects strong growth this year, with revenue in US dollars projected to grow by about 30 percent, outperforming the industry Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales last month reached NT$317.66 billion (US$9.98 billion), the highest ever for the month of February, driven by robust demand for chips built using the company’s advanced 3-nanometer (3nm) process. Last month’s figure was up 22.2 percent from a year earlier, but fell 20.8 percent from January, the world’s largest contract chipmaker said in a statement. For the first two months of the year, TSMC posted cumulative sales of NT$718.91 billion, up 29.9 percent from a year earlier. Analysts attributed the growth to sustained global demand for artificial intelligence (AI) products
RSS