Story
Taiwan Weighted Index Climbs 0.27% to New All-Time High
Summary
Taiwan's benchmark stock index reached a new record on Friday, closing up 0.27% as gains in the energy and chemical sectors propelled the market higher.
Taiwan's main stock index, the Taiwan Weighted, closed at a new all-time high on Friday, gaining 0.27% for the session. The advance was primarily driven by strong performance in the Oil, Gas & Electricity, Chemicals, and Plastic sectors, according to market data.
Session Highlights
Despite the benchmark's record-setting close, market breadth was negative. Data from the Taiwan Stock Exchange showed that declining stocks outnumbered advancing ones by a margin of 527 to 490, with 106 issues ending the day unchanged. This suggests the index's gains were concentrated in a select group of companies rather than being broad-based.
Sector and Stock Movers
Several companies posted significant gains, with three notable performers rising by the daily limit:
Ad- Lan Fa Textile Co Ltd (TW:1459) surged 10.00% to close at 18.70, a five-year high.
- Zhen Ding Technology Holding Ltd (TW:4958) also added 10.00%, ending the session at 561.00.
- Double Bond Chemical Ind Co Ltd (TW:4764) climbed 10.00% to finish at 203.50.
On the other end of the spectrum, the day's biggest laggards included Pell Bio Med Technology Co Ltd (TW:6949), which fell 9.92%, and Onano Industrial Corp (TW:6405), which declined 5.76%.
Broader Market Context
In commodities, energy prices saw a slight pullback, with November Crude Oil futures down 0.39% to $92.51 a barrel. In currency markets, the U.S. dollar edged slightly lower against the New Taiwan dollar, with the USD/TWD pair down 0.04% to 31.89.
Read next
More on Stocks
ON Semiconductor Stock Jumps on Revised All-Cash Deal for Synaptics
Shares of the chipmaker surged after it announced a new, cheaper all-cash deal to acquire Synaptics for $5.7 billion, a move that avoids shareholder dilution and is expected to be immediately accretive to earnings.
Schindler Shares Rise as Citi Eyes Positive Catalysts Ahead of Investor Day
Shares in the Swiss elevator and escalator manufacturer gained after analysts at Citi initiated a positive short-term view, citing potential for favorable updates on growth and capital allocation at upcoming company events.
AWS Pledges $1 Billion Investment in US Data Center Communities Amid Local Backlash
Amazon Web Services announced a $1 billion, five-year investment plan for US communities hosting its data centers, aiming to mitigate local concerns over resource consumption and environmental impact.
Capgemini Shares Hit 8-Month High on Positive Sector Cues from Accenture
Shares in the IT services firm surged after competitor Accenture reported stronger-than-expected quarterly results, easing investor concerns about the sector's growth outlook.