Stocks dropped for a fourth day, led by Formosa Plastics Corp (
"Now that demand's not so strong, customers who have restocked are going to hold off buying," said Raymond Yang (
The TAIEX shed 81.56, or 1.8 percent, to close at 4,588.14. For the week, the index fell 3.2 percent, its biggest fall since the week ending Oct. 11.
Formosa Plastics lost NT$1.20, or 2.6 percent, to NT$45. Nan Ya Plastics Corp (
The price of polyvinyl chloride rose because of a shortage of raw material used to make it, rather than higher demand, the paper reported. Customers, who increased their inventories to avoid rising prices, now have supplies to last until the second quarter, it said.
Within the index, more than seven stocks fell for every two that rose. The total value of trade was NT$78.05 billion (US$2.24 billion).
China Steel Corp (
The company, which forecasts a NT$18.5 billion pretax profit this year, said it will announce its forecast on Dec. 17 after a board of directors meeting.
CMC Magnetics Corp (
DBTEL Inc (
Mitac Technology Corp (
ProMos Technologies Inc (茂德科技) fell NT$0.65, or 6.6 percent, to NT$9.20. Infineon Technologies AG, which owns 30 percent of the chipmaker and uses 43 percent of its production capacity, said ProMos can't sell semiconductors to anyone else from Jan. 1 without infringing Infineon's patents.
* Formosa Plastics lost 2.6 percent.
* ProMos Technologies dropped 6.6 percent.
* DBTEL Inc fell 6.7 percent.
* China Steel rose 2.6 percent.
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the
SCATTERED: Production would be dispersed among a number of countries, which would bring an end to so-called world factories, Hon Hai chairman Young Liu said Decentralized production would be the new focus in manufacturing, Hon Hai Precision Industry Co (鴻海精密) chairman Young Liu (劉揚偉) yesterday told an online forum held by the Market Intelligence & Consulting Institute (MIC, 產業情報研究所). “The COVID-19 pandemic exerted a heavy impact on supply chains as well as production ... [production] would no longer be concentrated in solely one country, this is the end of what we used to call world factories,” Liu said during a panel discussion hosted by MIC director Victor Tsan (詹文男). As the US and China continue to dominate and sway international relations, the rest of the world is
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five