The TAIEX gained for a fourth day yesterday. Taiwan Semiconductor Manufacturing Co (TSMC,
The TAIEX added 5.38, or 0.1 percent, to 6,605.85, for a four-day gain of 2.6 percent. About the same number of stocks gained and declined. Taiex Futures for February delivery were unchanged at 6,615.
About 8.7 billion shares changed hands, 89 percent above the average daily trading in the past three months.
TSMC rose NT$0.50, or 0.8 percent, to NT$63. The company's board yesterday approved a NT$2 dividend for last year in the form of cash and shares. TSMC plans to offer a stock dividend of NT$1.40 plus a cash dividend of NT$0.60 a share, compared with the NT$0.80 stock dividend the company paid for 2002 profit.
Tainan Business Bank (台南企銀), a Tainan-based regional lender, gained NT$0.85, or 6.6 percent, to NT$13.70. It may invite six banks to buy each other's shares to help block a takeover attempt by King's Town Construction Co (京城建設), a Chinese-language newspaper reported, citing people it didn't identify at Tainan Business.
The bank said it's unaware of a potential takeover attempt by the owner of King's Town.
"Financial industry consolidation is expected to push many financial stocks higher this year," said Tracy Chen, who oversees US$73 million at Prudential Securities Investment (保誠投信).
King's Town, which develops property in the south, rose NT$3.50, or 6.1 percent, to NT$60.50.
China Development Financial Holding Corp (中華開發金控) gained NT$0.70, or 3.9 percent, to end at NT$18.90.
Chinatrust Financial Holding Co (中信金控) said earlier this month its affiliated companies such as China Life Insurance Co (中國人壽) and KGI Securities Co (中信證券) may buy China Development.
China Life Insurance said it does not rule out the possibility of buying more shares of China Development Financial, the paper reported eysterday. KGI Securities gained NT$1, or 6 percent, to NT$17.60. China Life rose NT$0.60, or 2.6 percent, to NT$24.
President Chain Store Corp (統一超商) gained NT$4, or 6.2 percent, to NT$69 after saying it plans to set up a drugstore venture in Shenzhen with the first store to open in the second quarter.
President Chain expects to control at least 65 percent of the 50 million yuan (US$6 million) ven-ture, with Guandong-based Livzon Pharmaceutical Group taking the rest, its chief financial officer Fred Chen said (陳福唐).
Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. He credits Salvadoran President Nayib Bukele’s decision to bank on bitcoin three years ago with changing his life. “Before I was unemployed... And now I have my own business,” said the 39-year-old businessman, who uses an app to charge for rides in bitcoin and now runs his own car rental company. Three years ago the leader of the Central American nation took a huge gamble when he put bitcoin
Demand for artificial intelligence (AI) chips should spur growth for the semiconductor industry over the next few years, the CEO of a major supplier to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said, dismissing concerns that investors had misjudged the pace and extent of spending on AI. While the global chip market has grown about 8 percent annually over the past 20 years, AI semiconductors should grow at a much higher rate going forward, Scientech Corp (辛耘) chief executive officer Hsu Ming-chi (許明琪) told Bloomberg Television. “This booming of the AI industry has just begun,” Hsu said. “For the most prominent
PARTNERSHIPS: TSMC said it has been working with multiple memorychip makers for more than two years to provide a full spectrum of solutions to address AI demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it has been collaborating with multiple memorychip makers in high-bandwidth memory (HBM) used in artificial intelligence (AI) applications for more than two years, refuting South Korean media report's about an unprecedented partnership with Samsung Electronics Co. As Samsung is competing with TSMC for a bigger foundry business, any cooperation between the two technology heavyweights would catch the eyes of investors and experts in the semiconductor industry. “We have been working with memory partners, including Micron, Samsung Memory and SK Hynix, on HBM solutions for more than two years, aiming to advance 3D integrated circuit
NATURAL PARTNERS: Taiwan and Japan have complementary dominant supply chain positions, are geographically and culturally close, and have similar work ethics Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other related companies would add ￥11.2 trillion (US$78.31 billion) to Japan’s chipmaking hot spot Kumamoto Prefecture over the next decade, a local bank’s analysis said. Kyushu Financial Group, a lender based in Kumamoto’s capital, almost doubled its projection for the economic impact that the chip sector would bring to the region compared to its estimate a year earlier, a presentation on Thursday said. The bank said that 171 firms had made new investments since November 2021, up from 90 in an earlier analysis. TSMC’s Kumamoto location was once a sleepy farming area, but has undergone
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