TAIPEI (Taiwan News) — Taiwan's stock market saw low-volume trading Friday as the US market was closed to honor former US President Jimmy Carter.
The Taiwan Stock Exchange Capitalization Weighted Stock Index closed down 69.27 points at 23011.86, compared to a loss of 326.2 points Thursday. Turnover totaled NT$332.17 billion (US$10.03 billion), per CNA.
TSMC ended flat at NT$1,100 (US$33.2), while Foxconn dropped 0.82%. Largan Precision rose over 8% in early trading before closing up 5.97%, and MediaTek also stabilized the market, closing up 1.74%.
At its investor conference held on Thursday, Largan Precision reported full-year earnings per share reaching a near four-year high. The company confirmed for the first time its engagement in humanoid robot vision projects with multiple clients.
MediaTek reported total revenue of NT$530.586 billion for 2024. This marked a 22.41% year-over-year increase, trailing only its record NT$548.796 billion in 2022, according to CNA.
Strong sales of MediaTek's Dimensity 9400 flagship smartphone chip drove operating growth in the fourth quarter, partially offsetting seasonal slowdowns in consumer electronics. Revenue from MediaTek's flagship mobile phone products grew by more than 70% last year, playing a pivotal role in the company's overall growth.
High-priced stocks Alchip Technologies and Wiwynn fell 5% and 3.06%, respectively. The optical communication sector remained strong, with EZconn rising 3.59% and Elite Advanced Laser closing in positive territory.
Asian stocks mostly closed lower, extending the previous day's declines, as markets across the region lacked a strong catalyst. Indices in Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Taipei, Wellington, and Manila fell, while Jakarta posted gains, per CNA.
Investors are awaiting US employment data, which could influence Federal Reserve interest rate decisions. While rate cuts typically boost markets by encouraging investment and improving corporate profits, several Fed officials have signaled caution, hinting that further cuts may be on hold.