Stocks ended higher yesterday on continued foreign buying ahead of changes in Morgan Stanley Capital International's global indexes and gains on Wall Street overnight.
The TAIEX ended 20.81 points, or 0.4 percent, higher at 6,049.49 in dealings valued at NT$102.9 billion (US$3.2 billion). Advancers outnumbered decliners nearly two to one.
The NASDAQ Composite Index closed up 1.0 percent in New York trading as computer-related stocks rose after a better-than-expected earnings report from Hewlett-Packard late on Tuesday.
"The US market is strong and there's no reason the Asian markets should come down," said Roel Leuterio, a researcher at Masterlink Securities Corp (元富證券).
Dealers said yesterday's rally carried over from Wednesday, when the benchmark index rose 2 percent to its highest level since Oct. 11 in heavy trading.
Vanguard International Semiconductor Corp (
Chip giant Taiwan Semiconductor Manufacturing Co (
Flat-panel makers rallied for a second straight day on hopes global demand for large liquid-crystal display (LCD) screens will outweigh supply by the end of the second quarter next year.
Quanta Display Inc (
Bigger rival AU Optronics Corp (友達光電) ended the day flat at NT$41.7, having risen 6.9 percent on Wednesday. In US trade overnight, AU's American Depositary Receipts surged 11.7 percent.
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
NEXT GENERATION: The company also showcased automated machines, including a nursing robot called Nurabot, which is to enter service at a Taichung hospital this year Hon Hai Precision Industry Co (鴻海精密) expects server revenue to exceed its iPhone revenue within two years, with the possibility of achieving this goal as early as this year, chairman Young Liu (劉揚偉) said on Tuesday at Nvidia Corp’s annual technology conference in San Jose, California. AI would be the primary focus this year for the company, also known as Foxconn Technology Group (富士康科技集團), as rapidly advancing AI applications are driving up demand for AI servers, Liu said. The production and shipment of Nvidia’s GB200 chips and the anticipated launch of GB300 chips in the second half of the year would propel
‘MAKE OR BREAK’: Nvidia shares remain down more than 9 percent, but investors are hoping CEO Jensen Huang’s speech can stave off fears that the sales boom is peaking Shares in Nvidia Corp’s Taiwanese suppliers mostly closed higher yesterday on hopes that the US artificial intelligence (AI) chip designer would showcase next-generation technologies at its annual AI conference slated to open later in the day. The GPU Technology Conference (GTC) in California is to feature developers, engineers, researchers, inventors and information technology professionals, and would focus on AI, computer graphics, data science, machine learning and autonomous machines. The event comes at a make-or-break moment for the firm, as it heads into the next few quarters, with Nvidia CEO Jensen Huang’s (黃仁勳) keynote speech today seen as having the ability to
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