Taiwan's banking stocks rose as CTB Financial Holding Co (交銀金控) advanced, driving the industry subindex to its biggest weekly gain in two months on expectations profit will rebound next year.
AU Optronics Corp (
"People feel the worst is over, but there's concern about the strength of growth in the third quarter," said Alex Chen, who manages NT$200 million (US$6 million) in stocks at Taiyu Securities Investment Trust Co (台育投信).
"Investors are moving funds into traditional and financial companies," he said.
The TAIEX was little changed, losing 0.11 points to 5,562.12 as 19 stocks fell for every 16 that rose. The TWSE Bank/Insurance Index rose 0.7 percent after surging as much as 3 percent. It gained 5.6 percent for the week, the biggest gain since the week ending April 19.
Shares of CTB rose NT$0.60, or 2.7 percent, to NT$23.10. The holding company, which owns Taiwan's 12th-largest lender by assets, raised its profit forecast for this year almost three-tenths to NT$6.1 billion.
CTB has already asked Cosmos Bank Taiwan (
The total value of trade on the TWSE was NT$83.8 billion (US$2.5 billion), more than a third below the six-month daily average of NT$114 billion. The TAIEX rose for the first week in eight, gaining 2.4 percent.
Chunghwa Telecom Co (
Hon Hai Precision Industry Co (
Hua Nan Financial Holdings Co (
Micro-Star International Co (
Nanya Technology Corp (南亞科技) rose NT$1.60, or 4.7 percent, to NT$35.90 after reports said South Korean rivals Samsung Electronics Co and Hynix Semiconductor Inc raised chip prices. Prices may revive as computer makers such as Dell Computer Corp place orders for chips in the second half of this month to meet an expected rise in computer demand in the third quarter, the paper reported.
CSBC Corp, Taiwan (台灣國際造船) yesterday released the first video documenting the submerged sea trials of Taiwan’s indigenous defense submarine prototype, the Hai Kun (海鯤), or Narwhal, showing underwater navigation and the launch of countermeasures. The footage shows the vessel’s first dive, steering and control system tests, and the raising and lowering of the periscope and antenna masts. It offered a rare look at the progress in the submarine’s sea acceptance tests. The Hai Kun carried out its first shallow-water diving trial late last month and has since completed four submerged tests, CSBC said. The newly released video compiles images recorded from Jan. 29 to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) plans to make advanced 3-nanometer chips in Japan, stepping up its semiconductor manufacturing roadmap in the country in a triumph for Japanese Prime Minister Sanae Takaichi’s technology ambitions. TSMC is to adopt cutting-edge technology for its second wafer fab in Kumamoto, company chairman C.C. Wei (魏哲家) said yesterday. That is an upgrade from an original blueprint to produce 7-nanometer chips by late next year, people familiar with the matter said. TSMC began mass production at its first plant in Japan’s Kumamoto in late 2024. Its second fab, which is still under construction, was originally focused on
DETERRENCE EFFORTS: Washington and partners hope demonstrations of force would convince Beijing that military action against Taiwan would carry high costs The US is considering using HMAS Stirling in Western Australia as a forward base to strengthen its naval posture in a potential conflict with China, particularly over Taiwan, the Wall Street Journal reported on Saturday. As part of its Indo-Pacific strategy, Washington plans to deploy up to four nuclear-powered submarines at Stirling starting in 2027, providing a base near potential hot spots such as Taiwan and the South China Sea. The move also aims to enhance military integration with Pacific allies under the Australia-UK-US trilateral security partnership, the report said. Currently, US submarines operate from Guam, but the island could
EMERGING FIELDS: The Chinese president said that the two countries would explore cooperation in green technology, the digital economy and artificial intelligence Chinese President Xi Jinping (習近平) yesterday called for an “equal and orderly multipolar world” in the face of “unilateral bullying,” in an apparent jab at the US. Xi was speaking during talks in Beijing with Uruguayan President Yamandu Orsi, the first South American leader to visit China since US special forces captured then-Venezuelan president Nicolas Maduro last month — an operation that Beijing condemned as a violation of sovereignty. Orsi follows a slew of leaders to have visited China seeking to boost ties with the world’s second-largest economy to hedge against US President Donald Trump’s increasingly unpredictable administration. “The international situation is fraught
RSS