Taiwan banking stocks rose, led by Hua Nan Commercial Bank (
Asustek Computer Inc (
Asustek's "sales and earnings may fall further because margins are contracting," said Cheng Yi-sheng, who helps manage NT$1.5 billion (US$43 million) in investments at Taiwan Securities Co Ltd (
The TWSE Index fell 4.83, or 0.1 percent, to 4,503.86, after rising as much as 1.5 percent and falling as much as 0.9 percent.
Within the index, 260 stocks rose and 182 fell. The total value of trade today was NT$62.97 billion (US$1.82 billion), 13 percent less than the year to date average of NT$72.57 billion.
Asustek Computer fell NT$2.50, or 1.9 percent, to NT$130.50. Net income dropped 14 percent to NT$2.92 billion (US$84.4 million) a year ago.
Sales in the second quarter fell 7 percent to NT$16 billion. Asustek Spokesman David Chang said gross margins in the first-half of this year fell to 24 percent from 25 percent a year ago.
Banks and insurers rose after the government proposed the capital gains on land sales be cut in half for two years. They rose 1.8 percent as a group, completing a 12 percent rally this week.
"Banks will benefit as they will be more willing to sell land," said Sophia Cheng, the banking analyst at Merrill Lynch Taiwan Ltd.
"They have huge land banks and can take the money and write off their non-performing loans."
Cathay Life Insurance Ltd (國泰人壽), which has more than 90 commercial buildings and 90 big plots of land, rose NT$2.50, or 6.8 percent, to NT$39.30. Hua Nan Commercial Bank, the second-biggest listed lender by assets, gained 60 cents, or 3.4 percent, to NT$18.50. Chang Hwa Commercial Bank (彰化銀行), the third-biggest listed bank by assets, rose 30 cents, or 2.1 percent, to NT$14.60.
Chipmakers dropped after the widely watched Philadelphia Stock Exchange Semiconductor Index, a price-weighted index of 16 companies that are involved in the design and sale of chips, fell 3.3 percent yesterday.
Taiwan Semiconductor manufacturing Co (TSMC, 台積電), the biggest made-to-order chipmaker, fell NT$1.50, or 2.3 percent, to NT$63. Its American depositary receipts fell 2.6 percent to US$12.55 yesterday. United Microelectronics Corp (UMC, 聯電), the second-biggest made-to-order chipmaker, fell 10 cents, or 0.3 percent, to NT$38.90. UMC's ADRs fell 0.1 percent to US$6.98.
Taiwanese Olympic badminton men’s doubles gold medalist Wang Chi-lin (王齊麟) and his new partner, Chiu Hsiang-chieh (邱相榤), clinched the men’s doubles title at the Yonex Taipei Open yesterday, becoming the second Taiwanese team to win a title in the tournament. Ranked 19th in the world, the Taiwanese duo defeated Kang Min-hyuk and Ki Dong-ju of South Korea 21-18, 21-15 in a pulsating 43-minute final to clinch their first doubles title after teaming up last year. Wang, the men’s doubles gold medalist at the 2020 and 2024 Olympics, partnered with Chiu in August last year after the retirement of his teammate Lee Yang
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US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer began talks with high-ranking Chinese officials in Switzerland yesterday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy. The US delegation has begun meetings in Geneva with a Chinese delegation led by Chinese Vice Premier He Lifeng (何立峰), Xinhua News Agency said. Diplomats from both sides also confirmed that the talks have begun, but spoke anonymously and the exact location of the talks was not made public. Prospects for a major breakthrough appear dim, but there is
The number of births in Taiwan fell to an all-time monthly low last month, while the population declined for the 16th consecutive month, Ministry of the Interior data released on Friday showed. The number of newborns totaled 8,684, which is 704 births fewer than in March and the lowest monthly figure on record, the ministry said. That is equivalent to roughly one baby born every five minutes and an annual crude birthrate of 4.52 per 1,000 people, the ministry added. Meanwhile, 17,205 deaths were recorded, resulting in a natural population decrease of 8,521, the data showed. More people are also leaving Taiwan, with net
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