Taiwan shares plunge amid concerns over foreign institutional selling
12/15/2020 06:39 PM
CNA file photo
Taipei, Dec. 15 (CNA) Shares in Taiwan took a beating, falling more than 140 points Tuesday, with market sentiment concerned over further foreign institutional selling ahead of the upcoming Christmas holiday, dealers said.
Downward pressure was seen across the board with the bellwether electronics sector in focus as investors rushed to lock in earlier gains built for large cap tech stocks in recent sessions, they said.
The weighted index on the Taiwan Stock Exchange (TWSE) or the Taiex ended down 142.53 points, or 1 percent, at 14,068.52, after moving between 14,053.35 and 14,256.55, on turnover of NT$273.02 billion (US$9.68 billion).
TSMC says demand remains resilient
BATTLE OVER? TSMC’s Morris Chang and UMC founder Robert Tsao shook hands at an event at the Hsinchu Science Park, indicating a thaw in the two men’s feud
By Lisa Wang
Customer demand would remain resilient through the first half of next year, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said yesterday, denying speculation that orders would be cut due to overbuilt inventory.
The Hsinchu-based chipmaker said that US-China trade disputes and the COVID-19 pandemic have changed semiconductor supply chains and redefined overbooking, or double booking.
Building higher inventory has “become a new norm for supply chains,” TSMC chairman Mark Liu (劉德音) told reporters on the sidelines of an international forum celebrating 40th anniversary of the Hsinchu Science Park (新竹科學園區), when asked about growing concern among investors over inventory corrections.
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UMC forecast to become world s No. 3 contract chipmaker
12/12/2020 07:48 PM
CNA file photo
Taipei, Dec. 12 (CNA) Taiwan-based contract chipmaker United Microelectronics Corp. (UMC) is expected to rise one place in the global rankings in the fourth quarter of this year to No. 3, as its revenue soars on strong demand for its 8-inch wafers, according to a research institute run by the market information advisory firm Trendforce.
UMC will replace American rival GlobalFoundries Inc. as the third largest wafer foundry operator in the world, taking a 6.9 percent share of the global market in the fourth quarter, the Topology Research Institute said in a recent research report.
Taiwan shares close slightly higher after roller coaster session focustaiwan.tw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from focustaiwan.tw Daily Mail and Mail on Sunday newspapers.