TAIEX is consolidating, minister says
BUBBLE INSURANCE? First Capital Management chairman Edward Chen said that the corrections reduce bubble pressure and steady the TAIEX after a rise in margin trading
By Crystal Hsu / Staff reporter
Minister of Finance Su Jain-rong (蘇建榮) yesterday urged investors to remain calm, calling declines in the local bourse on Monday and yesterday a common period of consolidation following last month’s recurrent rallies to record highs on the back of an economic boom.
The TAIEX yesterday shed 288.57 points, or 1.68 percent, to 16,933.78 on an unprecedented turnover of NT$664.2 billion (US$23.762 billion) amid panic selling by day traders, analysts said.
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).
UMC shares soar as tech stocks boost Taiex
04/26/2021 11:01 AM
CNA file photo
Taipei, April 26 (CNA) Shares of United Microelectronics Corp. (UMC), the second largest contract chipmaker in Taiwan, climbed sharply Monday morning in the wake of a product price hike, dealers said.
The buying in UMC also spread to other large-cap semiconductor stocks, leading the bellwether electronics sector and the broader market to continue the momentum from the previous session, as investors were encouraged by a rally among tech stocks on the United States markets at the end of last week, dealers added.
As of 10:35 a.m., shares of UMC had risen 6.49 percent to NT$60.70 (US$2.17) on the Taiwan Stock Exchange, where the Taiex, the weighted index, was up 174.63 points, or 1.01 percent, at 17,474.90.
Yuanta sees bullish year for steel
By Chen Cheng-hui / Staff reporter
China’s move to tighten control of crude steel production, coupled with continued strong demand from downstream industries, is expected to have a positive effect on major players in the local steel industry this year, Yuanta Securities Investment Consulting Co (元大投顧) said.
Steel prices are also expected to remain robust on tight supply, despite a likely decline in iron ore prices in the second half of this year after the easing of a shortage in key raw materials for making steel, Yuanta analysts led by Leo Lee (李侃奇) said in a report on Wednesday last week.
Taiwan shares end lower after giving up earlier gains
04/09/2021 06:07 PM
CNA photo April 9, 2021
Taipei, April 7 (CNA) Shares in Taiwan closed moderately lower Friday as investors locked in earlier gains as the main board breached the 17,000-point mark at one point in the early morning session, dealers said.
Large tech stocks led by contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) came under pressure, while select old economy stocks, in particular in the petrochemical sector, attracted rotational buying, preventing the broader market from falling further, the dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended down 72.34 points, or 0.43 percent, at 16,854.10, after moving between 16,815.59 and 17,016.13. Turnover totaled NT$436.29 billion (US$15.35 billion).