Share prices closed down 1.92 percent and back below the key 7,000 points level yesterday as an early modest rebound gave way to continuing concerns over the outlook for interest rates, dealers said.
They said uncertainty about whether foreign investors will sell down their holdings further added to the negative tone since their lead can be crucial to what local retail investors do.
The TAIEX closed down 135.89 points at the day's low of 6,938.26. Turnover was NT$121.57 billion (US$3.79 billion).
Decliners led gainers 622 to 211, with 72 stocks unchanged.
"Foreign investors apparently sold holdings today due to concerns over the [future] movement of [US] interest rates," said Frank Lin, senior vice president at Fubon Securities Co (
Lin said that with added worries about inflation, "shares are facing a price correction."
Capital Securities Corp (
"The overall pullback in Asia indicates some foreign institutions might have started adjusted their fund allocations, switching some of their capital to other regions," Wu said.
During trading yesterday, the Korea Composite Stock Price Index was 2.4 percent lower, while the Nikkei Stock Average 225 was down 0.4 percent.
Taiwan Semiconductor Manufacturing Co (TSMC,
TSMC's smaller rival, United Microelectronics Corp (
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
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