The TAIEX rose for a third day, paced by Quanta Computer Inc (廣達電腦), after The New York Times reported that Taiwan's largest notebook computer maker expects sales to increase by half this year.
China Steel Corp (
The TAIEX added 23.47, or 0.4 percent, to 6242.64, its highest since Oct. 7, 2000. Within the index, 317 stocks rose, 184 dropped, while 55 were unchanged.
Investors say overseas funds helped drive the index up 9.9 percent this month, prompting individuals, who make up as much as 80 percent of daily trading, to follow suit. Individual investors are focusing on smaller computer and electronics peripheral equipment makers such as Sunplus Technology Co (凌揚科技) and Episil Technologies Inc (漢磊科技), traders said.
"Investment decisions no longer have much to do with whether there's an economic recovery," said Darwin Chang, who helps manage NT$570 million (US$16 million) at Reliance Securities Investment Trust Co. "As foreign investors buy the major stocks, they help to hold up the market and encourage local investors to buy more of the smaller stocks."
Quanta rose NT$5, or 3.9 percent, to NT$134. Founder Barry Lam (
Steelmakers fell after China's trade ministry said it's investigating whether Taiwan, South Korea and three other steel exporters sold cold-rolled steel on the mainland at below cost.
Computer-related shares fell after the NASDAQ Composite Index dropped 2.1 percent yesterday on concern rising borrowing costs will slow corporate profit growth and dent demand.
Taiwan Semiconductor Manufacturing Co (TSMC,
INSURRECTION: The NSB said it found evidence the CCP was seeking snipers in Taiwan to target members of the military and foreign organizations in the event of an invasion The number of Chinese spies prosecuted in Taiwan has grown threefold over a four-year period, the National Security Bureau (NSB) said in a report released yesterday. In 2021 and 2022, 16 and 10 spies were prosecuted respectively, but that number grew to 64 last year, it said, adding that the Chinese Communist Party (CCP) was working with gangs in Taiwan to develop a network of armed spies. Spies in Taiwan have on behalf of the CCP used a variety of channels and methods to infiltrate all sectors of the country, and recruited Taiwanese to cooperate in developing organizations and obtaining sensitive information
BREAKTHROUGH: The US is making chips on par in yield and quality with Taiwan, despite people saying that it could not happen, the official said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has begun producing advanced 4-nanometer (nm) chips for US customers in Arizona, US Secretary of Commerce Gina Raimondo said, a milestone in the semiconductor efforts of the administration of US President Joe Biden. In November last year, the commerce department finalized a US$6.6 billion grant to TSMC’s US unit for semiconductor production in Phoenix, Arizona. “For the first time ever in our country’s history, we are making leading edge 4-nanometer chips on American soil, American workers — on par in yield and quality with Taiwan,” Raimondo said, adding that production had begun in recent
Seven hundred and sixty-four foreigners were arrested last year for acting as money mules for criminals, with many entering Taiwan on a tourist visa for all-expenses-paid trips, the Criminal Investigation Bureau (CIB) said on Saturday. Although from Jan. 1 to Dec. 26 last year, 26,478 people were arrested for working as money mules, the bureau said it was particularly concerned about those entering the country as tourists or migrant workers who help criminals and scammers pick up or transfer illegally obtained money. In a report, officials divided the money mules into two groups, the first of which are foreigners, mainly from Malaysia
SILICON VALLEY HUB: The office would showcase Taiwan’s strengths in semiconductors and artificial intelligence, and help Taiwanese start-ups connect with global opportunities Taiwan has established an office in Palo Alto, one of the principal cities of Silicon Valley in California, aimed at helping Taiwanese technology start-ups gain global visibility, the National Development Council said yesterday. The “Startup Island Taiwan Silicon Valley hub” at No. 299 California Avenue is focused on “supporting start-ups and innovators by providing professional consulting, co-working spaces, and community platforms,” the council said in a post on its Web site. The office is the second overseas start-up hub established by the council, after a similar site was set up in Tokyo in September last year. Representatives from Taiwanese start-ups, local businesses and
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