Odd lot trades of contract chipmaker Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) shares surged on Friday, although the stock faced headwinds, tumbling more than 5 percent in the session, the Taiwan Stock Exchange (TWSE) said.
The volume of odd lot trades of TSMC shares totaled about 9.84 million shares on Friday, up sharply by about 400 percent from Tuesday, in a session before the local stock market closed due to Typhoon Gaemi on Wednesday and Thursday, the TWSE added.
Stocks in Taiwan are usually bought or sold in lots of 1,000 shares. The nation lifted a ban on odd lots during regular trading hours in October 2020 to make it easier for retail investors to buy high-priced stocks in quantities of less than 1,000 shares.
Photo: Ann Wang, Reuters
TSMC on Friday shed 5.62 percent to close at NT$924, but traded above the nearest technical support at about the 60-day moving average of NT$910.00, TWSE data showed.
The heavy losses cut TSMC’s market capitalization by more than NT$1.42 trillion (US$43.3 billion) in one session to NT$23.96 trillion, the data showed.
The volume of odd lot trades of TSMC shares on Friday is the sixth-highest in the chipmaker’s history since its listing on Sept. 5, 1994, TWSE data showed.
The value of odd lot trades of TSMC shares on Friday totaled NT$9.12 billion, the second-highest for the chipmaker, TWSE data showed.
Analysts said the strong buying from retail investors indicated optimism about TSMC’s business outlook.
Odd lots provided investors with a good trading platform to own the stock.
As for iPhone assembler Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), odd lot trades of its shares on Friday soared 183 percent from Tuesday to about 3.16 million shares, the seventh-highest in the company’s history since a listing on the main board on June 18, 1991, TWSE data showed.
The value of odd lot trades of Hon Hai, second to TSMC in terms of market value, totaled about NT$609 million on Friday, the fifth-largest for the world’s largest contract electronics maker, the data showed.
The strong buying by retail investors also showed they were willing to pick up bargains after Hon Hai shares tumbled 4.71 percent to end at NT$192, which wiped out its market cap by NT$131.7 billion to NT$2.66 trillion, the TWSE said.
South Korea’s equity benchmark yesterday crossed a new milestone just a month after surpassing the once-unthinkable 5,000 mark as surging global memory demand powers the country’s biggest chipmakers. The KOSPI advanced as much as 2.6 percent to a record 6,123, with Samsung Electronics Co and SK Hynix Inc each gaining more than 2 percent. With the benchmark now up 45 percent this year, South Korea’s stock market capitalization has also moved past France’s, following last month’s overtaking of Germany’s. Long overlooked by foreign funds, despite being undervalued, South Korean stocks have now emerged as clear winners in the global market. The so-called “artificial intelligence
NEW IDENTITY: Known for its software, India has expanded into hardware, with its semiconductor industry growing from US$38bn in 2023 to US$45bn to US$50bn India on Saturday inaugurated its first semiconductor assembly and test facility, a milestone in the government’s push to reduce dependence on foreign chipmakers and stake a claim in a sector dominated by China. Indian Prime Minister Narendra Modi opened US firm Micron Technology Inc’s semiconductor assembly, test and packaging unit in his home state of Gujarat, hailing the “dawn of a new era” for India’s technology ambitions. “When young Indians look back in the future, they will see this decade as the turning point in our tech future,” Modi told the event, which was broadcast on his YouTube channel. The plant would convert
‘SEISMIC SHIFT’: The researcher forecast there would be about 1.1 billion mobile shipments this year, down from 1.26 billion the prior year and erasing years of gains The global smartphone market is expected to contract 12.9 percent this year due to the unprecedented memorychip shortage, marking “a crisis like no other,” researcher International Data Corp (IDC) said. The new forecast, a dramatic revision down from earlier estimates, gives the latest accounting of the ongoing memory crunch that is affecting every corner of the electronics industry. The demand for advanced memory to power artificial intelligence (AI) tasks has drained global supply until well into next year and jeopardizes the business model of many smartphone makers. IDC forecast about 1.1 billion mobile shipments this year, down from 1.26 billion the prior
People stand in a Pokemon store in Tokyo on Thursday. One of the world highest-grossing franchises is celebrated its 30th anniversary yesterday.
RSS