Taiwan shares surge to end above 14,300 points, led by tech sector
12/16/2020 06:04 PM
CNA file photo
Taipei, Dec. 16 (CNA) Shares in Taiwan moved sharply higher with buying seen across the board Wednesday as local investors took their cue from solid gains posted on U.S. markets overnight, amid optimism over the passage of the next stimulus package by lawmakers to address the economic impact of COVID-19, dealers said.
Buying in the local bellwether electronics sector increased, driving up the broader market on the back of an all-time high posted by the tech-heavy Nasdaq index on Tuesday, they said.
The weighted index on the Taiwan Stock Exchange (TWSE) or the Taiex ended up 235.94 points, or 1.68 percent, at 14,304.46, after moving between 14,145.24 and 14,339.50, on turnover of NT$249.93 billion (US$8.89 billion).
Taiwan Business TOPICS
Tatung is a household name in Taiwan and was a major player in the
country’s industrial rise. Yet this century-old enterprise has fallen on hard times, its property the only remaining asset of value. What caused Tatung’s downfall, and will it be able to rise again?
It only took a couple of hours for the Lin family to lose management control of Tatung, a company it had stewarded for over a century.
On the morning of October 21, a group of activist investors known as the “market faction” scored a decisive victory at an extraordinary shareholders meeting, where their members were elected to seven of the nine seats on the company’s board of directors.
Taiwan shares soar over 200 points as tech sector rebounds
12/16/2020 12:02 PM
CNA file photo
Taipei, Dec. 16 (CNA) Shares in Taiwan moved sharply higher Wednesday morning as the bellwether electronics sector bounced back from recent doldrums after the tech-heavy Nasdaq hit another all-time high overnight, dealers said.
Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) led the local tech sector higher after Chairman Mark Liu (劉德音) on Tuesday rejected market speculation that clients were scaling back orders, dealers said.
As of 11:35 a.m., the weighted index on the Taiwan Stock Exchange (TWSE), the Taiex, had risen 213.10 points, or 1.65 percent, to 14,281.62 on turnover of NT$154.02 billion (US$5.48 billion).
Semiconductor giants shake hands in relationship ice-breaker
12/15/2020 09:11 PM
TSMC founder Morris Chang (center) and UMC founder Robert Tsao (right). Photo courtesy of a reader
Taipei, Dec. 15 (CNA) Morris Chang (張忠謀) and Robert Tsao (曹興誠), two semiconductor gurus in Taiwan, appeared together for the first time in two decades on Tuesday, shaking hands in what is described by the news media as an ice-breaking move in their relations.
Chang, founder of Taiwan Semiconductor Manufacturing Co. (TSMC), and Tsao, founder of TSMC s smaller rival, United Microelectronics Corp. (UMC), showed up at a ceremony held by the Hsinchu Science Park to celebrate the industrial park s 40th anniversary, where many Taiwanese tech heavyweights, such as TSMC and UMC, are headquartered.