Shares ended slightly higher yesterday after late-session profit-taking erased nearly all the early gains inspired by Wall Street's rally overnight.
The TAIEX finished just 4.03 points, or 0.1 percent, higher at 5,721.31, on turnover of NT$66.01 billion (US$1.95 billion).
The index rose 1.5 percent in the morning to an intraday high of 5,803.67 after a 1.7 percent gain in the Dow Jones industrial average. But profit-taking then set in.
The NT dollar recovered from a one-year low as local stocks rebounded. The local currency rose NT$0.029 to close at NT$33.741 against the US dollar, on turnover of US$656 million on the Taipei foreign exchange market.
"Investors aren't confident about the market," said, Huang Hsiun-hui, an analyst at Capital Securities (
The third and fourth quarters are peak periods for the nation's exporters as global demand rises ahead of the Christmas and New Year holiday seasons, but demand is expected to fall in the first quarter, he said.
Solomon Chang, manager at Yuanta Core Pacific Securities (
"The interest-rate gap between Taiwan and the US is still widening, and a weaker Taiwan dollar is making foreign investors more reluctant to buy Taiwan stocks," Chang said.
The market's focus yesterday was on large technology companies scheduled to issue their third-quarter earnings this week.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
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