Stocks gained for the first day in three yesterday, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and United Micro-electronics Corp (UMC, 聯電) after Applied Materials Inc had its first profit in a year and said orders this quarter will surge as customers upgrade plants.
Applied Materials, the world's biggest maker of computer-chip production equipment, chief executive Mike Splinter said business is improving worldwide, and chipmakers became noticeably more confident about demand last month.
"Applied Materials' latest report should fortify investor confidence in an industry recovery," said Phil Chen, a fund manager at Grand Cathay Securities Investment Trust Co (
The "semiconductor industry will surely benefit," he said.
The TAIEX added 52.69, or 0.9 percent, to 6,035.44. The Taiwan Futures Index rose 1.1 percent to 6,072. About twice as many stocks rose as fell. About 4.3 billion shares changed hands, 1.7 percent below the daily average in the past three months. Shares worth NT$93.8 billion traded, 4 percent below the three-month daily average.
TSMC gained NT$1, or 1.5 percent, to NT$67.50. Rival UMC rose NT$0.90, or 2.9 percent, to NT$31.50.
Taishin Financial Holdings Co (台新金控) rose NT$0.90, or 4 percent, to NT$23.60. Taishin plans to sell NT$10 billion (US$294 million) of subordinated bonds to local investors to boost its capital adequacy ratio.
Winbond Electronics Corp (
ProMOS Technologies Inc (
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
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The Hsinchu County Government’s Labor Affairs Department yesterday said that it has received a plan from cosmetics brand Taiwan Shiseido Co (台灣資生堂) detailing mass layoffs at its plant in Hukou Township (湖口). While the labor authorities did not disclose the number of employees to be laid off, Japanese news media earlier in the day reported that the closure of the company’s factory in Hukou would result in 170 employees losing their jobs. Shiseido followed the law by reporting its layoff plan, the department said, adding that authorities would closely monitor negotiations between the management and affected employees and step in if any
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