The TAIEX is expected to challenge the 12,000-point mark in the second half of this year due to peak-season effects in the electronics sector and friendlier government measures ahead of November’s nine-in-one elections, Capital Securities Corp (群益金鼎證券) said on Thursday last week.
As the US high-tech industry is expected to improve further during a period of continued economic recovery, electronics stocks in Taiwan — which are highly connected to those in the US — are expected to ride the wave of rising sales in the second half of this year, Capital Securities said.
The local electronics sector is also expected to benefit from efforts to develop artificial intelligence, mobile communications and 5G technology in the global market, the brokerage said.
Due to the upcoming elections in Taiwan, government policies could benefit companies not in the high-tech sector in the second half of this year, it said, adding that this would include financial stocks, renewable energy-related stocks, as well as steel, textile and rubber stocks.
The TAIEX rose 0.67 percent to end at 11,087.47 points on Friday last week, but fell 0.62 percent for the week with market capitalization down 0.57 percent at NT$33.18 trillion (US$1.11 trillion).
So far this year, the TAIEX has risen 4.18 percent, and the Financial Supervisory Commission on Friday last week said that the local equity market remained resilient, despite MSCI Inc cutting Taiwan’s weighing in two of the global index provider’s indices.
As the TAIEX has managed to move above the 240-day moving average of 10,660 points in the short term, the index remains technically healthy, despite recent ups and downs, Capital Securities said.
The TAIEX might remain in consolidation mode in the third quarter before taking off to challenge 12,000 points in the fourth quarter, the brokerage said.
After that, the local main board is expected to suffer a technical pullback at the end of this year or early next year, while the US Federal Reserve’s interest rate hikes could drain liquidity in global equity markets, which is the last thing investors want to see, it said.
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.
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
STABLE RESULTS: Despite June’s lower consolidated revenue, second-quarter sales still reached a record high, driven by demand for chips for AI applications Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales of NT$263.71 billion (US$9.02 billion) for last month, its second-lowest monthly result this year. The world’s largest contract chipmaker said in a statement that its revenue last month only fared better than the NT$260.01 billion posted in February. Last month’s figure rose 26.9 percent from a year earlier, but slumped 17.7 percent from May, the company said. However, second-quarter revenue reached NT$933.8 billion, a record high for a single quarter, company data showed. The figure represented growth of 11.26 percent from the first quarter and 38.6 percent from a year earlier. Previously, TSMC said that
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