Taiwan's shares ended higher Tuesday, buoyed by expectations of a pre-election stock market rally, with construction and financial shares leading the gains, analysts said.
The benchmark index of the Taiwan Stock Exchange closed up 72.42 points, or 1.1 percent, to 6973.90.
Advancers outnumbered decliners 558 to 268 with 147 stocks unchanged in trading valued at NT$130.02 billion, down from Monday's NT$153.89 billion.
"The local bourse posted gains after experiencing seesawing trade earlier, as investors chose to stand in the bulls' camp amid expectations of pre-election gains," said Jose Lee, an analyst at First Taisec Securities (一銀證券).
However, with trading volume still dwindling, there are signs that investors are becoming cautious, analysts said.
"The key index will likely record volatile trade before the election," said Lee, predicting a range of 6800-7300 points in the near term.
Outpacing all other sectors, construction shares soared 3.1 percent overall after a local newspaper yesterday reported around NT$100 billion worth of houses will go on sale on March 29.
Shares of Kuoyang Construction (國揚建設) advanced 6.5 percent to NT$11.4.
Financial shares rose 2.5 percent as a whole, with bellwether Cathay Financial Holding (國泰金控) up 5.5 percent at NT$67.5.
Shares of flat-panel makers took the lead amid an upbeat outlook for the flat-panel industry.
Chi Mei Optoelectronics Corp (
HSBC Holdings PLC is deepening its commitment to Taiwan as the economy emerges as one of the bank’s fastest-growing markets globally, driven by an artificial intelligence (AI) investment boom, expanding cross-border trade, and rising wealth creation. “The advantage that Taiwan has is a growth story linked to the semiconductor and broader AI industries, strong underlying corporate performance, and wealth creation,” said Surendra Rosha, HSBC’s co-chief executive for Asia and the Middle East, in an exclusive interview with the Taipei Times on June 2, during this year’s HSBC Taiwan Conference. That combination has helped HSBC cement its position as the most profitable international
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
RSS