Taiwan shares rally on strong tech gains
05/25/2021 05:42 PM
CNA file photo
Taipei, May 25 (CNA) Shares in Taiwan moved sharply higher Tuesday as the bellwether electronics sector steamed ahead, led by large cap semiconductor stocks, in the wake of a rally by their counterparts on the American markets overnight, dealers said.
Buying also rotated to the petrochemical sector, giving additional support to the broader market, while shipping stocks pulled back from their recent strong upturn throughout the session, dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 257.38 points, or 1.58 percent, at 16,595.67, after moving between 16,444.75 and 16,657.60. Turnover totaled NT$527.34 billion (US$18.91 billion).
Industrial production rises for 15th month in row
‘SPORADIC CASES’: More than half of manufacturers in a survey said they expect the positive trend to extend into this month, despite a local outbreak of COVID-19
By Lisa Wang / Staff reporter
The industrial production index last month rose for the 15th consecutive month on an annual basis on the back of rising demand for semiconductor and electronic products, due to the stay-at-home economy and demand for 5G-related devices amid the COVID-19 pandemic, the Ministry of Economic Affairs said yesterday.
On a monthly basis, industrial production and manufacturing output dropped 9.26 percent and 9.88 percent respectively, the ministry said.
Chipmakers tighten virus measures
READY: TSMC introduced a rotational work schedule when the alert level was raised, so it said operations would not be affected by one of its staff testing positive for COVID-19
Staff writer, with CNA
Semiconductor suppliers are on alert over an escalation in domestically transmitted COVID-19 cases in Taiwan, to ensure that there is no interruption to their production, especially amid a global chip shortage.
As the companies’ production is predicted to remain unscathed due to tightened disease prevention measures, several IC heavyweights still expect their second quarter sales to smash quarterly records.
That is because the semiconductor sector is expected to continue benefiting from solid global demand caused by emerging technologies such as 5G applications, high-performance computing devices and gadgets, including notebook computers, tablets and Internet-related communications equipment used in t
ITRI revises chip industry forecast upward
INFLUENCE OF TWO: An analyst said that MediaTek and TSMC have performed much better than was expected, prompting a much bigger forecast for all local designers
By Lisa Wang / Staff reporter
The Industrial Technology Research Institute (ITRI, 工研院) yesterday revised upward its growth forecast for Taiwan’s chip industry, expecting production value to increase 18 percent to NT$3.81 trillion (US$136.01 billion) this year from NT$3.22 trillion last year.
In March, it estimated a rise of 8.6 percent to NT$3.5 trillion.
Buoyed by MediaTek Inc (聯發科) and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the latest forecast would mean that local IC companies are to outgrow the global semiconductor industry’s 10.9 percent growth, the institute said.
Taiwan shares keep falling amid COVID-19 panic
05/13/2021 06:17 PM
CNA photo May 13, 2021
Taipei, May 13 (CNA) Taiwan s stock market continued a downward trend Thursday, finishing the session 1.46 percent lower amid escalating fears over a spike in domestic COVID-19 cases, but remained above the six-month moving average of 15,588 points.
The Taiwan Stock Exchange weighted index, or Taiex, ended down 232.27 points, or 1.46 percent, at 15,670.10 after moving between 15,368.54 and 16,031.93. Turnover totaled NT$568.28 billion (US$20.32 billion).
Shares continued their downward trend from the previous day, when the weighted index ended down 680.76 points, or 4.11 percent, at 15,902.37, after tumbling by more than 1,000 points in early trading amid the spike in the number of domestically transmitted COVID-19 cases.