Taiwan's key stock index rose, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), as investors continued to buy the stock on expectations demand for chips will improve, boosting earnings.
Leaving the market mixed, Cathay Life Insurance Co (國泰人壽) fell on concerns it may have to pay out life insurance premiums after more than 60 people died after Typhoon Toraji swept through the nation Monday.
The TWSE Index rose 1.54, or 0.04 percent, to 4,354.52. Three stocks fell for every one that rose. Trade at NT$48.33 billion was 36 percent less than this year's daily average of NT$75.88 billion.
"I think it's time to buy back" TSMC shares, said Simon Chao, who manages NT$700 million (US$20 million) in Taiwan stocks at President Investment Corp (統一投資). "Maybe the third quarter will be the worst time but things will gradually get better." Chao has been buying TSMC in the last week.
TSMC rose NT$2.50, or 3.8 percent, to NT$68.50 after NT$2.58 billion flowed into the biggest made-to-order chipmaker in the month before yesterday, according to Bloomberg analytics. Money flow calculates the difference between the value of trades made at a higher price than the previous trade and those made at a lower price. These inflows and outflows show whether people are willing to pay more for a stock that's rising or to sell a stock that's falling for less. TSMC's American depositary receipts Tuesday rose US$0.99, or 6.5 percent, to US$16.30.
Cathay Life Insurance fell NT$0.60, or 2 percent, to NT$29.20 on concerns it may have to pay out life insurance policies after Typhoon Toraji killed at least 61 people and left 152 people missing after passing through the nation Monday.
Cathay United Bank Ltd (匯通銀行) rose NT$0.05, or 1 percent, to NT$5.05. The bank, part of the Lin Yuan Group (霖園集團), Taiwan's largest financial conglomerate, plans to merge with E.Sun Commercial Bank (玉山銀行), said Vincent Wang, an executive vice president at Cathay United. Joseph Huang, a special assistant to the president at E.Sun, said the bank has no plans to merge with Cathy United or anyone else at the moment. E.Sun fell NT$0.40, or 3.9 percent, to NT$9.85.
Hon Hai Precision Industry Ltd (
MediaTek Inc (
VIA Technologies Inc (威盛科技) fell NT$2, or 0.9 percent, to NT$218 on concerns the company's July sales will show that demand for the company's chipsets may slide along with computer demand. VIA will release its July sales figure yesterday.
Memory chipmakers declined as the spot price for the megabit dynamic random access memory chip remained at a tenth of their cost a year ago. It's now worth US$0.85, down from almost US$9 a year ago, according to DRAM Exchange, a market place for memory chips. Mosel Vitelic Inc (
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
WARNING: From Jan. 1 last year to the end of last month, 89 Taiwanese have gone missing or been detained in China, the MAC said, urging people to carefully consider travel to China Lax enforcement had made virtually moot regulations banning civil servants from making unauthorized visits to China, the Control Yuan said yesterday. Several agencies allowed personnel to travel to China after they submitted explanations for the trip written using artificial intelligence or provided no reason at all, the Control Yuan said in a statement, following an investigation headed by Control Yuan member Lin Wen-cheng (林文程). The probe identified 318 civil servants who traveled to China without permission in the past 10 years, but the true number could be close to 1,000, the Control Yuan said. The public employees investigated were not engaged in national
CAUSE AND EFFECT: China’s policies prompted the US to increase its presence in the Indo-Pacific, and Beijing should consider if this outcome is in its best interests, Lai said China has been escalating its military and political pressure on Taiwan for many years, but should reflect on this strategy and think about what is really in its best interest, President William Lai (賴清德) said. Lai made the remark in a YouTube interview with Mindi World News that was broadcast on Saturday, ahead of the first anniversary of his presidential inauguration tomorrow. The US has clearly stated that China is its biggest challenge and threat, with US President Donald Trump and US Secretary of Defense Pete Hegseth repeatedly saying that the US should increase its forces in the Indo-Pacific region
ALL TOGETHER: Only by including Taiwan can the WHA fully exemplify its commitment to ‘One World for Health,’ the representative offices of eight nations in Taiwan said The representative offices in Taiwan of eight nations yesterday issued a joint statement reiterating their support for Taiwan’s meaningful engagement with the WHO and for Taipei’s participation as an observer at the World Health Assembly (WHA). The joint statement came as Taiwan has not received an invitation to this year’s WHA, which started yesterday and runs until Tuesday next week. This year’s meeting of the decisionmaking body of the WHO in Geneva, Switzerland, would be the ninth consecutive year Taiwan has been excluded. The eight offices, which reaffirmed their support for Taiwan, are the British Office Taipei, the Australian Office Taipei, the
RSS