Shares ended at a one-month high yesterday, buoyed by a rise on Wall Street Friday and a fall in oil prices.
The benchmark TAIEX closed up 38.11 points, or 0.7 percent, at 5,660.97, topping the previous one-month high of 5,622.86 reached Friday.
Gainers outnumbered decliners 465 to 225 with 197 stocks ending unchanged. Turnover was NT$69.76 billion (US$2.05 billion).
"The market posted broad gains as investors took their cues from a rise in the US market Friday given the pullback in oil prices," said Jeffrey Cheang, an analyst at Yuanta Core Pacific Capital Management (元大京華投顧).
Taiwan's technology subindex ended 0.9 percent higher, following strength in US tech stocks.
Hon Hai Precision Industry Co (
"The stock fared pretty well today, which helped strengthen market sentiment toward tech heavyweights," Cheang said.
Shares in the world's largest made-to-order chipmaker, Taiwan Semiconductor Manufacturing Co (
Flat panel stocks weakened on concerns over falling prices.
The world's third-largest flat panel maker, AU Optronics Corp (
In non-tech sectors, steel shares outperformed.
The pullback in oil prices also fueled a rally in transportation stocks.
Evergreen Marine Corp (長榮海運), one of the largest oceangoing cargo shippers in Asia, jumped 5.1 percent to NT$29, while Yang Ming Marine Transport Co (陽明海運) advanced 2.5 percent to NT$28.30.
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
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