Taiwan shares rise as TSMC returns to NT$1,000 mark

Taipei, June 9 (CNA) Shares in Taiwan closed higher Monday, lifted by contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), which returned to the NT$1,000.00 (US$33.38) mark for the first time in three months, dealers said.

The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 129.63 points, or 0.60 percent, at 21,790.29 after fluctuating between 21,717.52 and 21,866.27. Turnover totaled NT$300.04 billion.

"The electronics sector's strength today mainly followed a rally in U.S. tech stocks late last week, driven by better-than-expected May jobs data," said Kerry Huang, an analyst at Concord Securities. "The report helped ease concerns about the impact of the Trump administration's tariffs."

The electronics index rose 0.75 percent after TSMC, the market's most heavily weighted stock, gained 1.01 percent to close at the day's high of NT$1,005.00 -- its first finish above the NT$1,000 mark since March 7.

TSMC's gains contributed about 80 points to the Taiex rise on Monday.

"Market attention was centered on TSMC, while other semiconductor and tech stocks were mixed as investors await the expiration of the 90-day pause on U.S. reciprocal tariffs in early July," Huang said.

Among other semiconductor stocks, smartphone IC designer MediaTek Inc. rose 0.39 percent to end at NT$1,285.00, while memory chip supplier Nanya Technology Holding Co. lost 0.58 percent to close at NT$51.70. In addition, application-specific integrated circuit (ASIC) designer Alchip Technologies Inc. shed 2.50 percent to end at NT$2,715.00.

Also in the tech sector, iPhone assembler and artificial intelligence server maker Hon Hai Precision Industry Co. gained 0.98 percent to close at NT$154.50, and Quanta Computer Inc., another AI server supplier, ended unchanged at NT$276.00.

Huang said the financial sector, which gained 0.80 percent, also supported the broader market thanks to generous dividend payouts.

Cathay Financial Holding Co. rose 2.11 percent to close at NT$67.70, and Fubon Financial Holding Co. added 0.80 percent to end at NT$88.50. CTBC Financial Holding Co. gained 1.08 percent to close at NT$42.00, while Mega Financial Holding Co. dipped 0.25 percent to NT$40.10.

In the old economy sector, Huang said Taiwan Glass Industry Corp. surged 10 percent, the daily maximum increase, to close at NT$17.10 after Japan's Nittobo raised glass fiber prices. The news drove the glass and ceramic index up by 7.41 percent.

Elsewhere in the old economy sector, textile brand Far Eastern New Century Corp. lost 0.76 percent to close at NT$32.75, while rival Makalot Industrial Co. rose 1.84 percent to end at NT$248.50.

"Despite the gains, the Taiex remained below the 21,999-point level, the 120-day moving average, trailing the U.S. markets," Huang said. "With the Taiwan dollar strengthening against the U.S. dollar, many investors remain concerned about potential foreign exchange losses for local exporters."

"So, any technical rebound offers investors a chance to lock in profits for now," Huang said.

The Taiwan Stock Exchange (TWSE) reported that foreign institutional investors were net sellers on the main board Monday, offloading NT$69.10 million worth of shares despite the Taiex closing higher.