Share prices closed 0.45 percent higher yesterday as sentiment was bolstered by Wall Street's extended gains overnight, dealers said.
The market gained further momentum as local firms reported better-than-expected sales and earnings for the first quarter to last month, they said.
The weighted index closed up 36.06 points at 8,084.45. Trading was between 8,055.67 and 8,105.82, while turnover totaled NT$114.01 billion (US$3.45 billion).
Yuanta Core Pacific Capital Management Co (
"Riding on the New York lead, investors were willing to beef up their portfolios with stocks that have solid fundamentals," he said.
However, Tam said that some profit-taking put a lid on the market's upside as investors wait for corporate guidance.
"Many companies are due to hold their quarterly briefing for investors soon, keeping some investors at bay before corporate guidance is unveiled," he said.
Shin Kong Financial Holding Co (新光金控) closed up NT$0.50 at NT$31.30 as investors responded to the company's concrete earnings results in the first quarter, with net profit at NT$7.03 billion.
Taiwan Semiconductor Manu-facturing Co (
United Microelectronics Corp (
High Tech Computer Corp (宏達電) fell NT$1.00 to NT$521.00 after it spent US$2.2 million through a wholly owned unit overseas on setting up a repair center for printed circuit boards (PCBs) in Shanghai.
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Advanced Micro Devices Inc (AMD) suffered its biggest stock decline in more than a month after the company unveiled new artificial intelligence (AI) chips, but did not provide hoped-for information on customers or financial performance. The stock slid 4 percent to US$164.18 on Thursday, the biggest single-day drop since Sept. 3. Shares of the company remain up 11 percent this year. AMD has emerged as the biggest contender to Nvidia Corp in the lucrative market of AI processors. The company’s latest chips would exceed some capabilities of its rival, AMD chief executive officer Lisa Su (蘇姿丰) said at an event hosted by
TECH JUGGERNAUT: TSMC shares have more than doubled since ChatGPT’s launch in late 2022, as demand for cutting-edge artificial intelligence chips remains high Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted a better-than-expected 39 percent rise in quarterly revenue, assuaging concerns that artificial intelligence (AI) hardware spending is beginning to taper off. The main chipmaker for Nvidia Corp and Apple Inc reported third-quarter sales of NT$759.69 billion (US$23.6 billion), compared with the average analyst projection of NT$748 billion. For last month alone, TSMC reported revenue jumped 39.6 percent year-on-year to NT$251.87 billion. Taiwan’s largest company is to disclose its full third-quarter earnings on Thursday next week and update its outlook. Hsinchu-based TSMC produces the cutting-edge chips needed to train AI. The company now makes more
NEXT GENERATION: The new 3-nanometer chip has 28 percent more transistors and offers up to 80 percent faster language model performance than its predecessor MediaTek Inc (聯發科) on Wednesday launched a new flagship smartphone chip, Dimensity 9400, made with Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) enhanced 3-nanometer technology, aiming to bring more artificial intelligence (AI) applications to edge devices like phones. The Dimensity 9400 is the second smartphone chip using TSMC’s second-generation 3-nanometer technology, after Apple Inc’s A18 Pro chip for the new iPhone 16 series. The new mobile chip has 28 percent more transistors, offers up to 80 percent faster large language model performance and is up to 35 percent more power-efficient than its predecessor, Dimensity 9300, MediaTek said. Chinese smartphone makers Xiaomi Corp (小米),
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