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Taiwan shares close at new high; TSMC also hits new high

Taiwan shares close at new high; TSMC also hits new high

(CNA photo)

Shares in Taiwan continued their momentum on Friday (Jan. 8), closing at a new high of 15,463.95, prompted by a surge in the bellwether electronics sector, where contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) saw its highest-ever stock price.

The weighted index on the Taiwan Stock Exchange (TWSE), or Taiex, ended up 249.95 points, or 1.64 percent, at the day's high of 15,463.95, off a low of 15,275.38. Turnover during the session totaled NT$394.8 billion (US$14.09 billion).

In the first week of 2021, the Taiex rose by a total of 731.42 points, boosted by TSMC and MediaTek Inc., a major integrated circuit designer, both of which embraced new highs in their stock price and market capitalization Friday.

TSMC, the most heavily weighted stock on the local market, rose 2.65 percent to end at the day's high of NT$580.00, the company's record-high closing price, driving up its market capitalization to NT$15.03 trillion, also a record high.

The hikes were attributed to an increase in the company's American depositary receipts (ADRs) by 5.82 percent to its highest-ever US$121.43, according to market dealers.

Meanwhile, MediaTek stocks climbed 4.88 percent to NT$838, boosting its market capitalization to a record high of NT$1.33 trillion.

Among other leading electronics makers, TSMC's smaller rival, United Microelectronics Corp., grew 3.57 percent to close at NT$47.85, Nanya Technology Corp. rose 4.20 percent to end at NT$96.7, and electronic component manufacturer Yageo Corp., surged 8.13 percent to close at NT$572.

Overall, the electronics sector recorded a rise of 1.93 percent during Friday's trading session. In the financial sector, which gained 1.50 percent, Cathay Financial Holding Co. rose 2.27 percent to close at NT$42.85, and Fubon Financial Holding Co. ended the session 2.71 percent higher at NT$47.45.

Both the financial and electronics sectors contributed the biggest gains to the Taiex during Friday's trading, dealers said.