Taiwan's key stock index rose, led by Taiwan Semiconductor Manufacturing Co (TSMC,
Lenders such as First Commercial Bank (
The TWSE Index rose 12.37, or 0.3 percent, to 4562.73. Five stocks rose for every four that fell. The total value of trade today was NT$39.84 billion (US$1.15 billion), compared to NT$44.74 billion yesterday.
While further interest rate cuts are likely, earnings may not recover because of depressed global economic activity, said Han Ong, head of Asia-Pacific strategy at Salomon Smith Barney Hong Kong Ltd.
On Friday, the government said it expects the economy to shrink 0.4 percent this year from last year. The central bank cut its key rediscount rate, charged to commercial lenders for 10-day loans, to 3.25 percent from 3.5 percent.
``I continue to suggest to clients to take a very cautious stance,'' Ong said.
TSMC rose 50 cents, or 0.8 percent, to NT$66.50. The biggest made-to-order chipmaker's current capacity is at about 40 percent and will rise throughout the rest of the year, Deputy Chief Executive Tseng Fan-cheng (
Banks fell after the Bureau of Monetary Affairs said 6.6 percent of the outstanding credits of domestic banks and investment trust companies were non-performing at the end of June.
That's up from 6 percent at the end of the first quarter. The figures didn't include foreign banks.
First Commercial Bank, the biggest listed lender in terms of assets, fell 10 cents, or 0.6 percent, to NT$16.50. Hua Nan Commercial Bank (
Transport shares fell 1 percent, bringing their two-day decline to 4.3 percent. The TWSE Transport Index gained 21 percent last week on hopes official direct transport links would soon eventuate between Taiwan and China after Taiwan President Chen Shui-bian (
Eva Airways Corp (
China Airlines Co (
Hon Hai Precision Industry Ltd (
Meidatek Inc (
Japan has deployed long-range missiles in a southwestern region near China, the Japanese defense minister said yesterday, at a time when ties with Beijing are at their lowest in recent years. The missiles were installed in Kumamoto in the southern region of Kyushu, as Japan is attempting to shore up its military capacity as China steps up naval activity in the East China Sea. “Standoff defense capabilities enable us to counter the threat of enemy forces attempting to invade our country ... while ensuring the safety of our personnel,” Japanese Minister of Defense Shinjiro Koizumi said. “This is an extremely important initiative for
Chinese Nationalist Party (KMT) Chairwoman Cheng Li-wun (鄭麗文) today accepted an invitation from Chinese President Xi Jinping (習近平) to lead a delegation to China next month, saying she hopes to promote the peaceful development of cross-strait relations and bring stability to the Taiwan Strait. “I am grateful and happy to accept this invitation,” Cheng said in a statement from the KMT chairperson’s office. Cheng said she hopes both sides can work together to promote the peaceful development of cross-strait relations, enhance exchange and cooperation, bring stability to the Taiwan Strait and improve people’s livelihoods. At today's news conference, Cheng said any efforts to
MORE POPULAR: Taiwan Pass sales increased by 59 percent during the first quarter compared with the same period last year, the Tourism Administration said The Tourism Administration yesterday said that it has streamlined the Taiwan Pass, with two versions available for purchase beginning today. The tourism agency has made the pass available to international tourists since 2024, allowing them to access the high-speed rail, Taiwan Railway Corp services, four MRT systems and four Taiwan Tourist Shuttles. Previously, five types of Taiwan Pass were available, but some tourists have said that the offerings were too complicated. The agency said only two types of Taiwan Pass would be available, starting from a three-day pass with the high-speed rail and a three-day pass with Taiwan Railway Corp. The former costs NT$2,800
The nation’s fastest supercomputer, Nano 4 (晶創26), is scheduled to be launched in the third quarter, and would be used to train large language models in finance and national defense sectors, the National Center for High-Performance Computing (NCHC) said. The supercomputer, which would operate at about 86.05 petaflops, is being tested at a new cloud computing center in the Southern Taiwan Science Park in Tainan. The exterior of the server cabinet features chip circuitry patterns overlaid with a map of Taiwan, highlighting the nation’s central position in the semiconductor industry. The center also houses Taiwania 2, Taiwania 3, Forerunner 1 and
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