Steel stocks moved higher Thursday, led by China Steel Corp. after the largest steel supplier in Taiwan raised its domestic wholesale prices for June deliveries after the price hikes seen in the previous few months at a time of rising iron ore prices in the global market, dealers said.
Shares in Taiwan closed higher Thursday on a technical rebound as investors took advantage of a slump seen a session earlier to pick up bargains on the back of the gains posted on Wall Street and other regional markets, dealers said.
The 2016 International Symposium on VLSI technology, which focuses on the Internet of Things (IoT), 5G, More than Moore's Law, and unmanned aerial vehicles (UAVs) will be held in Hsinchu next week, according to the organizer Industrial Technology Research Institute (ITRI).
The U.S. dollar rose against the New Taiwan dollar Thursday, gaining NT$0.048 to close at NT$32.296, after two sessions of decline, dealers said.
Finance Minister Chang Sheng-ford (張盛和) on Wednesday said that pushing through a bill to curb tax evasion would be a priority for his successor Sheu Yu-jer (許虞哲).
Foreign orders fell 4.7 percent to US$36.6 billion in March, marking the 12th straight month of annual decline, the Ministry of Economics Affairs (MOEA, 經濟部) reported on Wednesday.
The Taipei-based Chung-Hua Institution for Economic Research (CIER) has lowered its forecast for Taiwan's gross domestic product (GDP) growth in 2016 to 1.36 percent, barely half the level of its previous projection.
Information disclosure on Taiwan's securities and borrowing (SBL) market has the highest transparency in the Asia-Pacific region as well as the global market, said the Taiwan Stock Exchange Co. (TWSE, 台灣證券交易所) in a press release yesterday.
Stocks in Taiwan plunged Wednesday after failing to reach the 8,700-point mark, with weakness in large-cap stocks blamed for the poor performance, dealers said.
The number of day trading accounts opened at securities companies in Taiwan reached 942,472 as of March, with the number of new accounts averaging 19,089 per day during that month, according to Taiwan Stock Exchange (TWSE) statistics.