Shares ended sharply higher for a fifth straight session yesterday, boosted by Wall Street's strength and a pullback in oil prices.
The TAIEX closed up 152.42 points, or 2.7 percent, at 5813.39, an eight-week high. The index's previous high was 5836.91 on July 1.
Advancers well outnumbered decliners 667 to 87 with 131 stocks unchanged. Turnover rose to NT$118.84 billion (US$3.5 billion).
On the foreign exchange market, the New Taiwan dollar fell NT$0.007 to close at NT$34.075 against the US dollar with a turnover of US$730 million.
Local financial markets had been closed the past two days for Typhoon Aere. Cement stocks were up on expectations that rebuilding in areas hit by the typhoon will spur demand for construction materials. Taiwan Cement Corp (
Powerchip Semiconductor Corp (力晶半導體), Taiwan's largest DRAM chipmaker, rose by the 7 percent daily limit to NT$25, and peer Nanya Technology Corp (南亞科技) jumped 6.9 percent to NT$26.40, following a local newspaper report that spot prices for DRAM chips are expected to rise due to the typhoon.
"There were signs foreign institutional investors actively bought local tech heavyweights during the session," said Hsiuli Lee of Franklin Templeton First Taiwan.
Taiwan Semiconductor Manu-facturing Co (
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,”
Meta Platforms Inc offered US$100 million bonuses to OpenAI employees in an unsuccessful bid to poach the ChatGPT maker’s talent and strengthen its own generative artificial intelligence (AI) teams, OpenAI CEO Sam Altman has said. Facebook’s parent company — a competitor of OpenAI — also offered “giant” annual salaries exceeding US$100 million to OpenAI staffers, Altman said in an interview on the Uncapped with Jack Altman podcast released on Tuesday. “It is crazy,” Sam Altman told his brother Jack in the interview. “I’m really happy that at least so far none of our best people have decided to take them
As they zigzagged from one machine to another in the searing African sun, the workers were covered in black soot. However, the charcoal they were making is known as “green,” and backers hope it can save impoverished Chad from rampant deforestation. Chad, a vast, landlocked country of 19 million people perched at the crossroads of north and central Africa, is steadily turning to desert. It has lost more than 90 percent of its forest cover since the 1970s, hit by climate change and overexploitation of trees for household uses such as cooking, officials say. “Green charcoal” aims to protect what
RSS