Taipei, March 6 (CNA) The number of shareholders in Taiwan Semiconductor Manufacturing Co. (TSMC) crossed the one million mark Friday as the company's share price dipped below the nearest technical support of NT$600 (US$21.30) on the Taiwan Stock Exchange.
The TAIEX moved marginally down on its last trading day of the year, after rising 23.7 percent over the past 12 months, the third-largest increase for a single year, Taiwan Stock Exchange (TWSE) data showed.
The index initially hit an intra-session high at 18,291.25 points yesterday, but gradually fell before closing down 0.16 percent at 18,218.84, with turnover of NT$263.167 billion (US$9.5 billion), the data showed.
Starting at 14,720.25 points on Jan. 4, the TAIEX advanced 3,486.31 points this year, compared with an increase of 2,735.39 points last year.
The index registered its highest annual increase of 4,505 points in 1989 and
HSBC Holdings PLC’s global private banking and wealth management division has an upbeat outlook for Taiwan, the only North Asian market for which it had raised its outlook, as the domestic semiconductor sector is expected to continue to benefit from digitalization worldwide, it said yesterday.
Although the semiconductor sector has posted robust profit growth this year, it is likely to expand further next year thanks to a rising demand for chips, Hong Kong-based chief investment officer for Asia Fan Cheuk Wan (范卓雲) told a news conference.
Next year, semiconductor companies’ earnings per share are likely to grow at a slower pace, due
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Wall Street rout stirs 2 68% TAIEX drop taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.