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☆ Taiwan plays a 'very crucial role' in AI supply chain, says Taiwan Stock Exchange CEO
▼ + stars: | 2024-04-19 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

watch nowTaiwan plays a critical role in the AI chip revolution and the global semiconductor industry, the chief executive of the Taiwan Stock Exchange told CNBC in an exclusive interview. Sherman Lin, chairman and CEO of Taiwan Stock Exchange Corporation attributed the strong gains on the Taiwan Weighted Index to "the AI revolution." So it means, actually, Taiwan plays [a] very crucial role in AI supply chain and also the semiconductor industry," said Lin. Taiwan also held nearly 80% market share in extreme ultraviolet generation processes, such as 7-nanometer and more advanced technology, said TrendForce. EUV tools are critical in the production of the world's most advanced processors.

Persons: Sherman Lin, Lin, TSMC Organizations: Taiwan Stock Exchange, CNBC, Taiwan Stock Exchange Corporation, Taiwan, Taiwan Semiconductor Manufacturing Co, Apple, Nvidia, TSMC, U.S, ICT, Samsung, Intel Locations: Taiwan, South Korea, China, Japan, U.S

☆ Oil prices get short-lived boost from attack on Iran
▼ + stars: | 2024-04-19 | by ( Laura He | Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

Brent crude, the global oil benchmark, was down 0.4% at $86.8 per barrel, having earlier spiked more than 3%. The Israeli military has not commented, and Iran has not identified the source of the attack. Iran launched the attack in retaliation for a suspected Israeli strike on its embassy compound in Syria earlier this month. Iran is a big oil producer but exports most of its crude to China because of long-standing international sanctions. Mexico also said earlier this month that it would cut back oil exports because of strong domestic demand.

Persons: Brent, Israel, Benjamin Netanyahu, ”, ” Neil Shearing, Richard Bronze Organizations: London CNN, CNN, Capital Economics, Organization of, Petroleum, ANZ, United, Nikkei, Kospi, Tel Aviv Stock Exchange Locations: Hong Kong, London, Iranian, Isfahan, East, Iran, Syria, Hormuz, China, United States, Mexico, Asia, Israel, Tel Aviv

☆ Japan’s Nikkei 225 stock index surpasses 40,000 for the first time
▼ + stars: | 2024-03-04 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Japan’s Nikkei 225 index jumped above 40,000 for the first time on Monday, extending a historic rally that analysts say has just begun. The milestone comes just days after it had set a record closing high of 39,098.68, eclipsing its previous 1989 peak. Optimism regarding semiconductors boosted Taiwan’s stock market as well, with benchmark Taiex hitting an all-time high on Monday, led by Taiwan Semiconductor Manufacturing Company. Premier Li Qiang is set to announce China’s 2024 growth target on Tuesday and is also likely to unveil more stimulus measures to revive the sagging economy. Analysts widely expect the policymakers to set this year’s growth target at around 5%.

Persons: ”, Jefferies, “, chipmaker, Kospi, Hong, Li Qiang, Stephen Innes Organizations: Hong Kong CNN —, Nikkei, Nasdaq, Taiwan Semiconductor Manufacturing Company, Nvidia, Investors, National People’s Congress, NPC, Communist Party’s Politburo Locations: Hong Kong, Japan, Beijing, Shanghai, China

BANGKOK (AP) — Shares advanced in Asia on Friday, with Tokyo's benchmark Nikkei 225 index trading near a record high, 35 years after it peaked and then plunged with the collapse of Japan's financial bubble. U.S. futures were lower after stocks on Wall Street set a fresh record following some mixed reports on the economy. It has been hovering just below the record high of 38,915.87 that it set on Dec. 29, 1989, right before a plunge in share and property prices ushered in an era of slower, faltering growth. Taiwan's Taiex edged 0.2% lower a day after breaching a record high of 18,644.57 as major market mover TSMC, the world's biggest computer chip maker, surged nearly 8%. On Thursday, the S&P 500 rose 0.6% to 5,029.73, squeaking past its all-time high set last week.

Persons: Australia's, Shack, Wells Organizations: —, Nikkei, Nvidia, Dow Jones Industrial, Nasdaq, U.S, Treasury, Federal Reserve, Fed, CBRE, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong, Seoul, India, Wall

BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. On Wednesday, the S&P 500 climbed 1% to 5,000.62, clawing back more than two-thirds of its loss from Tuesday. It was the single strongest force lifting the S&P 500 index. Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.

Persons: Australia's, Taiwan’s Taiex, India's Sensex, Russell, Lyft, Airbnb Organizations: Wall, Bank of Japan, Nikkei, Reserve, Dow Jones Industrial, Nasdaq, Treasury, Nvidia, Technologies, Akamai Technologies, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Seoul, Japan, Britain, China, Germany, Hong Kong, Bangkok, Italy, U.S

HONG KONG (AP) — Shares rose in most Asian markets Monday after Wall Street returned to record heights Friday, while Hong Kong’s benchmark dropped more than 2%, hovering near a 15-month low. Tokyo’s Nikkei 225 index gained 1.2% to 36,376.50. Wall Street's run-up was driven in part by hopes for rate cuts as U.S. inflation remained tame. Treasury yields have already relaxed significantly on expectations for rate cuts, and that helped the stock market’s rally accelerate sharply in November. The Fed itself has hinted that rate cuts are coming, though some officials have indicated they may begin later than the market is hoping for.

Persons: Australia’s, that’s, Brent Organizations: Wall, Hong, Nikkei, Bank of Japan, People’s Bank of China, Dow Jones, Nasdaq, Taiwan Semiconductor Manufacturing Co, Broadcom, Texas Instruments, U.S Locations: HONG KONG, U.S, Hong Kong, Shanghai, South Korea, Bangkok, Taiwan

HONG KONG (AP) — Asia markets mostly advanced Friday after Wall Street recouped most of the week's earlier losses and Japan reported slowing inflation, which may keep its ultra-low interest rates steady. Japan’s inflation slowed for a second straight month, increasing the chance that the Bank of Japan will keep its ultra-low interest rates unchanged at its meeting next week. Hong Kong stocks were on track for their third consecutive week of losses as investors remain worried about the gloomy economic prospects. The market was broadly steadier as Treasury yields in the bond market slowed their jump from earlier in the week. On the losing end of Wall Street were several financial companies that reported weaker results for the end of 2023 than analysts expected.

Persons: Australia’s, Taiwan’s Taiex, homebuilders, KeyCorp, Brent Organizations: —, Nikkei, Bank of Japan, Taiwan Semiconductor Manufacturing, Dow Jones Industrial, Nasdaq, Big Tech, Apple, Broadcom, Federal Reserve, Treasury, Discover Financial Services, U.S Locations: HONG KONG, — Asia, Japan, Hong Kong, Shanghai, South Korea, Bangkok, United States

HONG KONG (AP) — Asian shares were mostly higher on Monday, with Tokyo extending its New Year rally, as China’s central bank kept its one-year policy loan interest rate unchanged. China’s central bank opted to keep its one-year policy loan interest rate at 2.5% on Monday while injecting funds into the financial system. Traders are largely betting on the Fed cutting its main interest rate six or more times through 2024. The airline and other travel-related companies were also hurt by a rise in oil prices, which put pressure on their fuel costs. A barrel of benchmark U.S. crude oil rose 10 cents to $72.78.

Persons: Zhaopeng Xing, Raymond Yeung, “, Ernie, Baidu, Lai Ching, Lai, Taiwan’s Taiex, Australia’s, It's, Yemen’s Houthi, Brent Organizations: ANZ, Baidu, Democratic Progressive Party, Dow Jones, UnitedHealth Group, Nasdaq, Federal Reserve, Treasury, Traders, Fed, Delta Air Lines, United Airlines, Cruise Line Holdings, U.S Locations: HONG KONG, Tokyo, Hong Kong, Shanghai, South Korea, China, Taiwan

BANGKOK (AP) — Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna. Consumer spending, the lifeblood of the economy, rose at a 3.6% annual rate from July through September. In Bangkok, the SET fell 0.5%. Facebook parent company Meta fell 2%, Google’s parent company Alphabet gave up 1.6% and Microsoft dropped 1%. Las Vegas Sands slid 4.9% after Miriam Adelson, the casino operator’s controlling shareholder, sold some $2 billion in stock.

Persons: That’s, Yue, India's Sensex, Taiwan's Taiex, Brent, gainers, Miriam Adelson Organizations: Federal, Consumer, U.S ., Bank, Nikkei, Capital Economics, OPEC, Sunday, New York Mercantile Exchange, Big Tech, Dow Jones, Nasdaq, Facebook, Meta, Microsoft, New York Stock Exchange, General Motors, GM, United Auto Workers, Canadian, Treasury, Sands Locations: BANGKOK, Vienna . U.S, U.S, Asia, Hong Kong, Shanghai, Australia, Bangkok, Sunday .

BANGKOK (AP) — Shares declined Friday in Asia, with Hong Kong's benchmark retreating on selling of property shares following recent gains. Japan reported its consumer inflation rose for the first time in four months, with big gains in food prices and hotel rates as tourism has soared. Political Cartoons View All 1265 ImagesChinese shares fell back after recent gains driven by expectations of more government support for debt-burdened property developers. On Thursday, European shares edged higher in thin trading. Britain’s FTSE 100 edged 0.2% higher to 7,483.58.

Persons: ” Robert Carnell, Min Joo Kang, Korea's, Germany’s DAX Organizations: —, Bank of, ING Economics, Nikkei, CAC, Dow, Nasdaq, Black, Walmart, Saks Fifth, Federal, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Japan, Hong Kong, Shanghai, Australia, Bangkok, Paris

Oil prices fell about $1 a barrel after OPEC postponed until next week a meeting to discuss production cuts. The oil cartel has been maintaining a tight market for crude oil with production cuts. It is expected to extend those cuts after oil prices have fallen after a spike in the summer to almost $100 a barrel. Markets in Greater China have been swaying in reaction to moves by Chinese regulators to prop up the ailing property market. A 0.9% drop in oil prices weighed on energy companies.

Persons: Seng, Nordstrom, Swissquote, they’ll, Brent Organizations: Garden, Dow, Nasdaq, . Technology, Microsoft, Google, Broadcom, VMWare, Energy, Exxon Mobil, Halliburton, Nvidia, Department, University of Michigan, Federal, ” Fed, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Japan, U.S, Shanghai, Greater China, South Korea, Taiwan, Mumbai, China, Turkey

HONG KONG (AP) — Asian shares were higher Monday after Wall Street closed its third straight winning week with a tiny gain. U.S. futures were lower while oil prices gained as investors looking ahead to OPEC plus meetings. Australia’s S&P/ASX 200 edged 0.1% higher to 7,058.40. The Dow Jones Industrial Average inched up less than 0.1% to 34,947.28 and the Nasdaq composite gained 0.1% to 14,125.48. It had been trading near 152 yen to the dollar last week, but analysts said expectations for lower U.S. interest rates are driving sales of dollars, pushing the yen higher.

Persons: Australia’s, Taiex, what’s, Jerome Powell, it’s, Brent Organizations: Nikkei, China, Dow Jones, Nasdaq, Wall, Ross, BJ’s Wholesale, Companies, Federal Reserve, Fed, U.S Locations: HONG KONG, Hong Kong, Shanghai, South Korea, Bangkok

The Shanghai Composite index edged 0.1% higher to 3,054.37. Taiwan’s Taiex gained 0.2% and the Sensex in Mumbai fell 0.1%. Wall Street’s stocks drifted to a mixed finish Thursday as market momentum slowed following the sizzling rally of the first half of November. The Dow Jones Industrial Average slipped 0.1% to 34,945.47, and the Nasdaq composite gained 0.1% to 14,113.67. Stocks in the oil-and-gas industry swooned after the price of crude tumbled sharply to its lowest level since July.

Persons: Seng, Kazuo Ueda, Ueda, Australia’s, Taiwan’s Taiex, ” Yeap Jun Rong, IG, Macy’s, Sonos, Stocks, Halliburton, Brent Organizations: Nikkei, Bank of Japan Gov, U.S, U.S ., Dow Jones, Nasdaq, Walmart, Cisco Systems, Marathon Petroleum Locations: HONG KONG, U.S, New York, Shanghai, South Korea, Mumbai

HONG KONG (AP) — Asian shares retreated Friday after rising bond market yields once again weighed on Wall Street, ending a lull in wider swings in prices during a brief respite from market moving data releases. A financial services business of China’s biggest bank, ICBC, said it was it by a ransomware attack that reportedly disrupted trading in the U.S. Treasury market. It was unclear how much of an impact the attack had on Treasury market trading. But it quickly sagged as Treasury yields rose following a report that suggested the U.S. job market remains remarkably solid. Topgolf Callaway Brands was another weight on the market and sank 16.9% despite beating analysts’ expectations for profit during the summer.

Persons: Jerome Powell, Australia’s, Taiwan’s Taiex, Stocks, sagged, Becton Dickinson, Brent Organizations: Investors, U.S . Federal, U.S . Treasury, Commercial Bank of China Financial Services, Treasury, Nikkei, Dow Jones, Nasdaq, Federal, Walt Disney Co, Wall, Topgolf Callaway Brands, New York Mercantile Exchange, U.S Locations: HONG KONG, Asia, Hong Kong, South Korea, Shanghai, China’s, U.S, York, Bangkok

HONG KONG (AP) — Asian shares were mixed on Monday ahead of a Federal Reserve decision this week on interest rates. U.S. futures gained while oil prices fell more than $1 a barrel. That’s particularly concerning for the Fed, which fears such expectations could lead to a vicious cycle that worsens high inflation. The Shanghai Composite index rose 0.3% to 3,025.76. As one of the most massive companies on Wall Street, Amazon’s stock movements carry huge weight on the S&P 500 and other indexes.

Persons: Netanyahu, Australia’s, Stocks, Russell, Ford, Brent Organizations: Federal, Federal Reserve, U.S, Nikkei, Bank of Japan, China, Dow Jones, Nasdaq, Wall, Intel, United Auto Workers, Treasury, New York Mercantile Exchange, U.S . Locations: HONG KONG, Israel, Israeli, Gaza, China, Shanghai, Hong Kong, Bangkok

HONG KONG (AP) — Asian shares advanced Friday after the latest tumble on Wall Street, where the S&P 500 fell to its lowest level in five months. But investors are more concerned about what will happen rather than what has passed, and worry that a solid economy could continue to push prices higher. That could push the Fed to keep rates high for a long time to curb inflation. Higher interest rates could mean eventual weakness for the economy and corporate profits. And high bond yields make investors less willing to pay high prices for stocks and other investments.

Persons: Australia’s, Taiex, haven’t, Wall, Brent Organizations: Nikkei, Statistics, Big Tech, Nasdaq, Dow Jones, Facebook, Treasury, Federal Reserve, New York Mercantile Exchange Locations: HONG KONG, Gaza, Tokyo, Hong Kong, Shanghai, Seoul, Israel, U.S

BANGKOK (AP) — World shares and crude oil prices have slipped ahead of an update on the state of the U.S. economy in the last quarter. Uncertainty over the U.S. economic outlook, the war in the Middle East and other hazards is rippling through world markets. High yields whittle away at prices for stocks and other investments while slowing borrowing and adding pressure to the financial system. In the oil market, U.S. benchmark crude oil sank $1.23 to $84.16 per barrel in electronic trading on the New York Mercantile Exchange. However, escalations in the conflict do not necessarily cause oil prices to surge.

Persons: Germany's DAX, Hang Seng, Sydney's, Taiwan's Taiex, whittle, Brent, it’s Organizations: CAC, Dow Jones, Treasury, Tokyo’s Nikkei, Federal, New York Mercantile Exchange, U.S Locations: BANGKOK, U.S, Paris, Seoul, Hong, Shanghai, Bangkok, . U.S, Israel, Iran, escalations, Gaza

TOKYO (AP) — Shares mostly rose Tuesday in Asia after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after creeping above 5%. Political Cartoons View All 1215 ImagesHong Kong's Hang Seng dropped 0.8% to 17,033.00, while the Shanghai Composite advanced 0.8% to 2,963.70. Lower bond yields tend to most help stocks of companies promising big growth far in the future or those seen as the most expensive. Treasury yields help dictate how much investors pay for everything from stocks to corporate bonds to cryptocurrencies. While worries about higher Treasury yields and the war in Gaza are weighing on markets, strong corporate profits and the resilient U.S. economy have helped to offset such pressures.

Persons: Sydney's, Korea's Kospi, Hang Seng, Taiex, Brent, it's, Hess Organizations: TOKYO, —, Wall, Treasury, Nikkei, Shanghai, Dow Jones, Nasdaq, Nvidia, Microsoft, Federal Reserve, New York Mercantile Exchange, Energy, Chevron, Exxon Mobil, Natural Resources, Apple, Technology, General Motors, U.S . Locations: Asia, Tokyo, Sydney, Seoul, Shanghai, Taiwan, Hong Kong, Israel, U.S, Gaza, Iran

U.S. futures rose while oil prices fell back. A barrel of benchmark U.S. oil fell 97 cents to $87.11 per barrel. Chinese stocks fell to a 1-year low early Monday as foreign investors sold off holdings. High yields make borrowing more expensive for everyone, and they slow the economy while dragging on prices for stocks and other investments. But higher oil prices threaten to add upward pressure.

Persons: Brent, Taiwan’s Taiex, Fumio, Australia’s, ” Stephen Innes, It’s Organizations: Israel, Foxconn Technology, Fortune, Apple, Nikkei, Dow, Nasdaq, Treasury, Management, Federal, Fed, Enphase Energy, Regions Financial, U.S Locations: HONG KONG, Gaza, Gaza City, Israel, Shanghai, Hong, Taiwan, Seoul, Europe, U.S

HONG KONG (AP) — Asian markets slipped on Friday following a decline on Wall Street driven by mounting pressure from rising bond market yields. The Hang Seng in Hong Kong slipped 2.2% to 17,846.49 and the Shanghai Composite index fell 0.6% to 3,088.10. Japan’s Nikkei 225 index fell 0.6% to 32,315.99. On Thursday, the S&P 500 fell 0.6% to 4,349.61. The stock market has largely been taking its cues from the bond market recently.

Persons: Australia’s, Taiwan’s Taiex, Wells, Brent Organizations: National Bureau of Statistics, Japan’s Nikkei, Dow Jones, Nasdaq, Delta Air Lines, Ford Motor Co, United Auto Workers, Detroit, Treasury, Federal Reserve, Citigroup, JPMorgan Chase, UnitedHealth Group, New York Mercantile Exchange, U.S . Locations: HONG KONG, China, Hong Kong, Shanghai, South Korea, Bangkok, Louisville , Kentucky, Wells Fargo, Gaza

BANGKOK (AP) — Asian shares were mostly higher in thin trading Monday with many markets closed for holidays. Japan’s Nikkei 225 index slipped after a central bank survey showed business confidence on the rise. The Bank of Japan’s “tankan” quarterly survey measured business sentiment among major manufacturers at plus 9, up from plus 5 in June. After easing earlier in the day on encouraging signals about inflation, Treasury yields got back to rising as the day progressed. Postponements of such reports could complicate things for the Fed, which has insisted it will make upcoming decisions on interest rates based on what incoming data say about the economy.

Persons: Australia's, Taiwan's Taiex, It's, it's, Brent Organizations: Japan’s Nikkei, Japan’s, Nikkei, Dow, Nasdaq, Treasury, Federal Reserve, New York Mercantile Exchange Locations: BANGKOK, China, South Korea, U.S, Tokyo, Bangkok

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