Taiwanese shares edged up yesterday despite profit-taking, with the total market capitalization of Taiwan Stock Exchange (TWSE)-listed stocks exceeding NT$60 trillion (US$1.9 trillion) for the first time.
The TAIEX rose 36.41 points, or 0.19 percent, to close at 18,889.19, while market turnover expanded 9.5 percent to NT$443.945 billion from the previous session, TWSE data showed.
The benchmark index briefly moved above 19,000 points in early trading yesterday, driven mainly by semiconductor players such as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and MediaTek Inc (聯發科) at the encouragement of the sharp rises in Nvidia Corp and Super Micro Computer Inc on Wall Street overnight.
Photo: I-Hwa Cheng, Bloomberg
TSMC climbed above NT$700 before paring gains to close at NT$697, a rise of 0.72 percent, while MediaTek rallied 8.37 percent to NT$1,100, making it the second-largest stock in terms of market capitalization on the TWSE at NT$1.76 trillion, behind TSMC at NT$18.07 trillion.
Non-tech stocks, such as those in electrical machinery and chemicals, also moved up to buoy the TAIEX, while shipping, plastics and electrical cables posted deeper declines compared with a day earlier, TWSE data showed.
The total market capitalization of the main bourse-listed stocks reached NT$60.03 trillion yesterday, up from NT$59.91 trillion the previous day and compared with NT$59.14 trillion on Friday last week, TWSE data showed.
Cumulative transactions on the TWSE reached NT$10.51 trillion so far this year, with an average daily transaction of NT$328.34 billion, the data showed.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
RSS