Taiwan shares rebound, end above 17,200 points
05/07/2021 04:53 PM
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Taipei, May 7 (CNA) Shares in Taiwan continued their momentum from a session earlier to move sharply higher, pushing up the benchmark index on the main board to top the 17,200-point mark, as investors were encouraged by a rally on U.S. markets overnight, dealers said.
The bellwether electronics sector led the upturn in the wake of strong bargain hunting taking advantage of a correction suffered by large tech stocks in the week s previous sessions, while large cap old economy stocks appeared mixed, as market attention focused on their tech counterparts, the dealers said.
Taiwan shares end lower; tech sector hit hard
05/05/2021 04:37 PM
CNA file photo
Taipei, May 5 (CNA) Shares in Taiwan closed lower Wednesday as investors locked in gains they had built up in electronic shares amid concerns over further volatility in tech stocks on American markets, dealers said.
The semiconductor sector faced heavy downward pressure, dragging the entire tech sector lower, while old economy stocks largely staged a rebound from a day earlier, dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended down 90.34 points, or 0.53 percent, at the day s low of 16,843.44, off a high of 17,052.20.
Turnover totaled NT$455.13 billion (US$16.27 billion).
UMC reaches settlement in U.S. class action suit
05/05/2021 07:21 PM
From UMC s website
Taipei, May 5 (CNA) United Microelectronics Corp. (UMC) has reached a settlement to resolve a class action suit filed by its American depositary receipt (ADR) investors related to an earlier lawsuit accusing the Taiwanese company of violation of trade secrets protection in the United States.
In a statement released on Tuesday, UMC, the second-largest contract chipmaker in Taiwan, said it is paying the plaintiffs US$3 million to end the litigation and that the funds will be partly used to pay the plaintiffs legal bills and other expenses.
UMC said the U.S. District Court for the Southern District of New York issued a green light for the settlement agreement on Monday.
Taiwan shares end below 17,000-point mark off early low
05/04/2021 04:10 PM
CNA photo May 4, 2021
Taipei, May 4 (CNA) Shares in Taiwan extended their losses from a session earlier to close below the 17,000-point mark Tuesday off an early low, as investors rushed to lock in gains previously built for large-cap non-tech stocks, dealers said.
While the bellwether electronics sector continued to trend lower, its losses were limited, as contract chipmaker Taiwan Semiconductor Manufacturing Co.(TSMC) and United Microelectronics Corp. (UMC) managed to buck the downturn to end in positive territory, the dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended down 288.57 points, or 1.68 percent, at 16,933.78, after moving between 16,647.61 and 17,328.55. Turnover hit a new high of NT$664.2 billion (US$23.77 billion).
Taiwan shares plunge, led by large cap electronics stocks
05/03/2021 05:54 PM
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Taipei, May 3 (CNA) Shares in Taiwan took a beating, plunging more than 300 points Monday, as market sentiment was hit by concerns over a growing number of domestic COVID-19 cases, dealers said.
The bellwether electronics sector led the downturn and selling was also seen among old economy heavyweights, which pushed down the main board below 17,300 points to the day s low at the end of the session, the dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended down 344.31 points, or 1.96 percent, at 17,222.35, after coming off a high of 17,546.94. Turnover totaled NT$587.728 billion (US$20.99 billion).