The TAIEX rose yesterday for the first day in eight. Hua Nan Financial Holdings Co (
Taiwan Semiconductor Manu-facturing Co (台積電) slumped NT$2.10, or 4.4 percent, to NT$45.90. The US-traded shares of the world's largest supplier of made-to-order chips fell 5.5 percent to US$7.35 on Wednesday, their biggest drop since Nov. 11.
"There's no growth story with the electronic stocks, so we're shifting funds into traditional stocks such as steelmakers and financial-related stocks," said Joseph Hsu, who helps manage NT$600 million (US$17 million) in stocks at Fuh Hwa Cheng Ching Capital Management Co (復華證金投顧).
The TAIEX rose 13.30, or 0.3 percent, to close at 4,549.23. The index dropped 6 percent in the previous seven days.
Hua Nan Financial rose NT$1.50, or 6.5 percent, to NT$24.50. The owner of Taiwan's fifth-largest bank by assets, which forecasts a NT$26.3 billion loss this year, expects earnings to rebound next year after it writes off NT$52.4 billion of non-performing loans.
Within the index, more than seven stocks rose for every four that fell. The total value of trade was NT$85.33 billion.
Ability Enterprise Co (
Asia Vital Components Co (
Asustek Computer Inc (華碩電腦), the nation's largest maker of boards connecting the chips that run computers, lost NT$2, or 3.2 percent, to NT$61.50. Demand for circuit boards used to make computer motherboards dropped as much as a fifth this week from a month ago, a local newspaper reported, citing circuit-board suppliers.
Some motherboard makers' inventories have risen after shipments last month fell below the companies' expectations, the newspaper reported.
K-Bridge Electronics Ltd (
Mitac International Corp (
Demand for electronics products may rise a 10th next year although supply will rise more than 50 percent, the DigiTimes newspaper reported, citing Mitac Vice Chairman Francis Tsai (
Prime Optical Fiber Corp (
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB