■ Wall Street rally boosts TAIEX
Shares closed 0.86 percent higher in active trade yesterday, bolstered by Wall Street's rally overnight on hopes of a near-term US interest rate cut, dealers said.
The TAIEX rose 66.64 points to close at 7,823.67, on turnover of NT$111.57 billion (US$3.37 billion). Risers led decliners 582 to 504, with 213 unchanged.
On the foreign exchange market, the New Taiwan dollar rose on speculation that a rally in local shares would lure overseas investors to the local market, increasing the demand for the currency.
The NT dollar gained NT$0.113 to close at NT$32.993 against the greenback, according to Taipei Forex Inc.
■ Powerchip boss subpoenaed
Frank Huang (黃崇仁), the chairman of Powerchip Semiconductor Corp (力晶半導體), will be questioned "early next week" over transactions involving shares of Veutron Corp (力廣科技), a Taichung prosecutor said yesterday.
"We have sent a subpoena to Huang asking him to appear for questioning scheduled for early next week," prosecutor Jane Wen-chang said by telephone.
■ Macronix in buyout talks
Shares in chipmaker Macronix International Co (旺宏電子) rose after a newspaper reported it may be seeking to organize a management buyout with Bain Capital LLC to fend off a takeover threat from Powerchip Semiconductor Corp (力晶半導體).
Bain, the US buyout firm, has asked Nintendo Co, Macronix's biggest customer, to participate in the possible buyout, the Chinese-language Commercial Times reported, without citing any source.
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