Shares ended marginally lower yesterday as investors cashed in on steep gains in the previous two sessions, analysts said.
The TAIEX finished 2.12 points, or 0.03 percent, lower at 5,860.73 in trading valued at NT$74.02 billion (US$2.22 billion).
Decliners outnumbered advancers 360 to 250, while 176 issues ended the day unchanged.
"Most investors didn't want to push their luck after the index shot up over 200 points in two days," said Richard Tsai, a senior vice president at Grand Cathay Securities (大華證券).
The benchmark index gained 1.8 percent in the last two sessions.
Morgan Stanley Capital International will on Nov. 30 raise Taiwan's limited investibility factor in its global indexes, a move that has already attracted NT$22.71 billion (US$679.18 million) to Taiwan's share markets so far this week from foreign institutional investors, analysts said.
Andrew Teng (鄧安瀾), a manager at Taiwan International Securities Corp (金鼎證券), said the local bourse hit technical resistance around 5,890 yesterday, but is poised for a rebound in the next few sessions.
Teng said technology bluechips like Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) are still going strong, finishing higher for the seventh straight session.
TSMC, the world's largest contract chipmaker, rose 1.3 percent to NT$47.50 after its American Depositary Receipts gained 2 percent overnight. Rival United Microelectronics Corp (聯電) slid 0.5 percent to NT$20.90.
MediaTek Inc (聯發科), the world’s biggest smartphone chip supplier, yesterday said it plans to double investment in data center-related technologies, including advanced packaging and high-speed interconnect technologies, to broaden the new business’ customer and service portfolios. The chip designer is redirecting its resources to data centers, mainly designing application-specific integrated circuits (ASIC) with artificial intelligence (AI) capabilities for cloud service providers. The data center business is forecast to lead growth in the next three years and become the company’s second-biggest revenue source, replacing chips used in smart devices, MediaTek president Joe Chen (陳冠州) told a media event in Taipei. “Three or four years
Until US President Donald Trump’s return a year ago, when the EU talked about cutting economic dependency on foreign powers — it was understood to mean China, but now Brussels has US tech in its sights. As Trump ramps up his threats — from strong-arming Europe on trade to pushing to seize Greenland — concern has grown that the unpredictable leader could, should he so wish, plunge the bloc into digital darkness. Since Trump’s Greenland climbdown, top officials have stepped up warnings that the EU is dangerously exposed to geopolitical shocks and must work toward strategic independence — in defense, energy and
Motorists ride past a mural along a street in Varanasi, India, yesterday.
CHALLENGES: The platform brings together accounting and legal experts in the two nations to deliver coordinated advisory services on investment and risk management PwC Taiwan has launched a Taiwan-US service platform to help Taiwanese companies expand into the US, underscoring a shift in corporate investment priorities, as nearly 40 percent of local firms now rank the US as their top overseas destination. The platform brings together accounting and legal professionals in Taiwan and the US to deliver coordinated advisory services, as supply chain realignment, geopolitical risk and shifts in industrial policy reshape global manufacturing and market access strategies, PwC Taiwan chairman and CEO Patrick Hsu (徐聖忠) told a media briefing in Taipei yesterday. “North America has moved from being an optional growth market to a
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