Shares ended yesterday at their highest level in over a month, tracking steep gains in US technology issues overnight.
The TAIEX finished 175.24 points, or 3.2 percent, higher at 5,602.99 in dealings valued at NT$99.37 billion (US$2.9 billion).
The benchmark index last finished above 5,600 on July 14, at 5,623.65. Thursday marked the local bourse's heaviest trading session in nearly three months.
Advancers outnumbered decliners 709 to 57, while 125 issues ended the day unchanged.
"The Taiwan bourse was buoyed by the US market, which investors think has bottomed out. High oil prices up to US$50 a barrel have already been factored in," said Diana Wu, an analyst at Capital Securities (群益證券).
AU Optronics Corp (友達光電), the world's third largest maker of liquid crystal displays used in laptops and televisions, finished 6.9 percent higher at NT$43.2, following a 9.9 percent surge in its American Depositary Receipts overnight.
Its smaller peer Chi Mei Optoelectronics Corp (奇美電子) soared 6.2 percent to NT$44.7.
Shares in computer memory chip makers also traded near the 7 percent daily ceiling Thursday, as the spot price of the most widely used dynamic random access memory chip showed signs of stabilizing after its recent slide.
Powerchip Semiconductor Corp (力晶半導體), Taiwan's largest DRAM maker, surged 6.7 percent to NT$22.3, while rival ProMOS Technologies Inc (茂德科技) climbed 6.7 percent to NT$13.5.
Taiwan Semiconductor Manufacturing Co (台積電), gained 4.5 percent to NT$46.8, while rival United Microelectronics Corp (聯電) added 4.5 percent to NT$23.2.
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
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