Taiwan shares rise 1.62%, led by large cap stocks
05/28/2021 05:25 PM
CNA file photo
Taipei, May 28 (CNA) Shares in Taiwan moved sharply higher to close above 16,800-point mark Friday as large cap stocks across the board regained their footing in a strong technical rebound after showing weakness a session earlier, dealers said.
A 0.58 percent gain in the Philadelphia Semiconductor Index overnight helped the bellwether electronics sector, and interest was also strong in raw material stocks, especially the steel sector, on hopes that strong demand will push profits higher, they said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 269.25 points, or 1.62 percent, at 16,870.86, after moving between 16,690.04 and 16,889.01. Turnover totaled NT$493.93 billion (US$17.78 billion).
Taipei, May 28 (CNA) Taiwan shares moved sharply higher Friday morning with buying seen across the board on the back of a rally on U.S. markets overnight, dealers said.
Taiwan shares close slightly up in consolidation mode
05/26/2021 04:54 PM
CNA file photo
Taipei, May 26 (CNA) Shares in Taiwan moved in consolidation mode, ending slightly higher Wednesday after lackluster performance on U.S. markets overnight, dealers said.
After a surge the previous day, many tech heavyweights paused to limit the movement of the broader market, while buying rotated to select old economy stocks, giving support to the main board, the dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange, ended up 48.02 points, or 0.29 percent, at 16,643.69, after moving between 16,523.23 and 16,706.29. Turnover totaled NT$425.76 billion (US$15.32 billion).
The market opened up 0.30 percent as the bellwether electronics sector continued from Tuesday s momentum to move higher, but with the Taiex breaching the 16,700-point mark at one point, selling followed to erode the earlier gains, the dealers said.
US $52 billion chip funding could help ease the global chip shortage PUBLISHED BY
The semiconductor chip shortage is far from over but this hasn’t stopped governments around the globe from getting creative to move production ahead. The impact of the chip crisis on the automotive market has been debilitating, resulting in competition between automakers and electronics manufacturers. To prevent the global chip shortage from razing the economy to the ground the
U.S. Commerce Secretary Gina Raimondo has proposed a
$52 billion boost in
U.S. government funding for semiconductor production and research which could result in seven to 10 new U.S. factories.