US Stocks Rally, but Semiconductor Index Falls; Taiwan Market Focuses on TSMC Earnings Call

(CNA reporter Pan Zhiyi, Taipei, July 16) Major U.S. stock indices rose, but the Philadelphia Semiconductor Index closed lower, and TSMC's American Depositary Receipts (ADR) declined. Today, the Taiwan stock market faces pressure as it attempts to challenge the monthly moving average of approximately 46,020 points. Financial institutions indicate that TSMC's earnings call scheduled for this afternoon remains the focal point for the Taiwan market.

Cooling U.S. inflation data and a strong start to the Q2 earnings season have spurred investor buying activity, leading to gains in the three major U.S. indices, while the semiconductor index fell.

The Dow Jones Industrial Average rose 150.37 points (0.29%) to close at 52,658.64; the S&P 500 gained 28.81 points (0.38%) to 7,572.40; the Nasdaq Composite climbed 162.22 points (0.62%) to 26,269.23; meanwhile, the Philadelphia Semiconductor Index dropped 263.04 points (2.08%) to 12,398.90.

The Taiwan Weighted Index rose 893.64 points on the 15th, closing at 45,631.59, up 2%.

On the 15th, Taiwan Mask announced that its subsidiary, Guangju Holdings, plans to participate in the 100% equity acquisition of a semiconductor equipment outsourcing service company based in Kumamoto City, Japan, with a transaction value not exceeding 1 billion Japanese yen.

Low Earth orbit (LEO) satellite component supplier Sindat Technology resolved at its board meeting on the 15th to acquire equity in Giant Electronics, with a total transaction amount not exceeding NT$1.7 billion. Upon completion, including Sindat's previously held shares, the combined stake in Giant Electronics will exceed 51%, making it a subsidiary of Sindat Technology.

In the evening of the 15th, Hon Hai Precision Industry (Foxconn) announced that its subsidiary, Hong Yang Venture Capital, acquired shares in Churchill Capital Corp XI for USD 9 million (approximately NT$290 million), representing a 0.3% stake. Hon Hai stated the primary purpose is long-term investment in Agility Robotics, a U.S. humanoid robotics company. (Editor: Yang Lanxuan) 1150716