■ Shares little changed
Taiwan share prices closed little changed yesterday, confined to a narrow range as Wall Street's mixed closing last Friday provided no clear lead for local investors, dealers said.
Gains in large-cap stocks because of laggard buying and expectations of industry recovery for select segments were offset by technical pressure on the rest of the market, they said.
The weighted index closed up 0.58 points or 0.01 percent at 7,884.99, off a low of 7,866.59 and a high of 7,931.99, on turnover of NT$115.04 billion (US$3.48 billion).
Kai Yuan Securities Investment Consultant (開元投顧) president Tom Tang (湯建源) said laggard interest drove large-cap stocks higher, with select stocks boosted by hopes of better industry prospects this quarter.
"Select wafer foundries, liquid crystal display panel firms and dynamic random access memory (DRAM) chipmakers scored gains on hopes of better industry performance in the current quarter."
■ DVD firms settle patent fight
Matsushita Electric Industrial Co, the world's largest consumer electronics maker, settled a DVD patent-infringement lawsuit with Taiwan's CMC Magnetics Corp (中環) and agreed to a cross-license agreement for 10 years.
Matsushita in July filed a lawsuit in the US court for California's Northern district regarding patents for rewritable discs, the Osaka-based company said in a faxed statement yesterday. Matsushita has been negotiating to license patents to CMC, the world's biggest maker of recordable DVD discs, since 2004.
"We are pleased that our intellectual property rights have been properly evaluated and this litigation was settled early to our mutual satisfaction," Yoshihisa Fukushima, director of corporate intellectual property at Matsushita, said in the statement. No financial terms were given in the statement.
CMC spokeswoman Andria Wong (翁雅貞) confirmed the settlement in a telephone interview. Wong declined to disclose the terms of the DVD license agreement.
■ Chunghwa closes limit up
Shares of Chunghwa Picture Tubes Ltd (中華映管), the nation's third-largest liquid-crystal-display maker that was forecast to report a record loss, surged after the company replaced its chairman.
The stock rose by the 7 percent daily limit to NT$6.77, the highest in almost three months, on the Taiwan Stock Exchange.
Frank Lin (林鎮弘) quit as chairman last week and was replaced by his half-brother Lin Wei-Shan (林蔚山), president of Tatung Co (大同), Chunghwa Picture's biggest shareholder and Taiwan's oldest home appliance maker. The former chairman resigned for "personal reasons" at a time when the company was forecast to report a record NT$13.5 billion group net loss for last year, according to the average analyst estimate compiled by Bloomberg.
■ Taiwan Lottery berated
The Ministry of Finance issued a strongly written statement yesterday, demanding that Taiwan Lottery Co (台灣彩券公司) replace its information team chief or even the firm's president over the constant system failures that have plagued its vending machines.
As many as 1,400 lottery distributors nationwide were affected by a four-hour computer crash yesterday afternoon.
Taiwan Lottery, the nation's exclusive Public Welfare Lottery operator, quickly apologized for the instability of its system.
■ NT loses on greenback
The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, decreasing NT$0.009 to close at NT$33.098.
A total of US$843 million changed hands during trading.
ISSUES: Gogoro has been struggling with ballooning losses and was recently embroiled in alleged subsidy fraud, using Chinese-made components instead of locally made parts Gogoro Inc (睿能創意), the nation’s biggest electric scooter maker, yesterday said that its chairman and CEO Horace Luke (陸學森) has resigned amid chronic losses and probes into the company’s alleged involvement in subsidy fraud. The board of directors nominated Reuntex Group (潤泰集團) general counsel Tamon Tseng (曾夢達) as the company’s new chairman, Gogoro said in a statement. Ruentex is Gogoro’s biggest stakeholder. Gogoro Taiwan general manager Henry Chiang (姜家煒) is to serve as acting CEO during the interim period, the statement said. Luke’s departure came as a bombshell yesterday. As a company founder, he has played a key role in pushing for the
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
CROSS-STRAIT TENSIONS: The US company could switch orders from TSMC to alternative suppliers, but that would lower chip quality, CEO Jensen Huang said Nvidia Corp CEO Jensen Huang (黃仁勳), whose products have become the hottest commodity in the technology world, on Wednesday said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience at a Goldman Sachs Group Inc technology conference in San Francisco. “We probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.” Huang’s company is experiencing strong demand for its latest generation of chips, called
GLOBAL ECONOMY: Policymakers have a choice of a small 25 basis-point cut or a bold cut of 50 basis points, which would help the labor market, but might reignite inflation The US Federal Reserve is gearing up to announce its first interest rate cut in more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the US presidential election. Senior officials at the US central bank including Fed Chairman Jerome Powell have in recent weeks indicated that a rate cut is coming this month, as inflation eases toward the bank’s long-term target of two percent, and the labor market continues to cool. The Fed, which has a dual mandate from the US Congress to act independently to ensure