Letsnewz.

Letsnewz.

New Chip Origin Regulations in China Affect UMC Stock, Triple Institutions Buy In Bulk Last Week

New Chip Origin Regulations in China Affect UMC Stock, Triple Institutions Buy In Bulk Last Week

According to FTNN news, the TAIEX index fell 133.74 points last week (04/14–04/18), closing at 19,395.03 points, a decrease of 0.68%. The stock exchange data showed that the three major institutional investors sold a total of NT$100.625 billion last week, yet UMC (2303) excelled, becoming the top stock purchased with 32,652 shares bought.

The recent notice from the China Semiconductor Industry Association (CSIA) states that the 'manufacturing place' will be considered as the origin of the chip. This means that chips manufactured by Taiwanese companies will be exempt from the 125% punitive tariffs China imposes on American products, which foreign media believe will benefit UMC and potentially lead to transfer orders.

Furthermore, data from the stock exchange indicated that last week saw a top ten list of stocks purchased that included four electronic stocks, three traditional sector stocks, and three financial stocks. The notable uptick in demand for UMC is an encouraging sign for investors moving forward.