Shares of solar cell makers rose yesterday on news of more stable material supply and surging crude oil prices, with both Motech Industries Inc (
World oil prices set fresh record prices yesterday because of fears that a Turkish incursion into Iraq to pursue Kurdish rebels could disrupt supply.
Shares of solar cell makers have become a favorite target for investors when oil prices spike. The sector has also benefited from government incentives to nurture this burgeoning industry.
Shares of Motech, the nation's largest solar cell maker rose 6.9 percent to close at NT$363.5 on the GRETAI Securities Market.
Motech has said it planed to expand annual output from 180 megawatts to 280 megawatts next year.
Shares of E-ton, the nation's second-largest solar cell maker, was supported by recent news that it had obtained steady material supply from Japan-based M. Setek Co and US-based Adema Technologies Inc.
The company said earlier that it planned to increase its output from 70 megawatts this year to 150 megawatts next year and to 1,000 megawatts by 2011, the online news outlet cnyes.com reported yesterday, without citing sources.
The stock advanced 6.9 percent to close at NT$401 on the GRETAI market.
Chen Hung-wei (陳弘韋), an analyst who covers solar stocks at IBT Securities Investment Consulting Co (台灣工銀證券投顧), said both E-ton and Sino-American Silicon Products Inc (中美晶) should fare well in the medium to longer-term given adequate material supplies.
Shares of Sino-American Silicon rose 1.4 percent to NT$322.
Chen estimated that E-ton's net profit this year would rise 38.1 percent year-on-year to NT$1.01 billion, while Sino-American Silicon's would surge 82 percent to NT$1.84 billion.
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
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
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