Shares rise amid profit-taking
Share prices closed 0.64 percent higher yesterday but profit-taking wiped out early gains, dealers said.
The TAIEX rose 41.01 points to 6,432.16 on turnover of NT$90.23 billion (US$2.75 billion).
Losers outnumbered gainers 1,231 to 840, while 214 stocks remained unchanged.
A total of 21 shares soared to their daily 7 percent limit, against 20 limit-down.
The market opened high but selling pressure then emerged on profit-taking as investors chose not to build up their portfolios, analysts said.
“The market was short of mainstreams today, and investors were reluctant to push up prices,” said Allen Lin of Concord Securities (康和證券).
Trade group wraps up trip
An ongoing trade mission to Eastern Europe is expected to pick up new orders worth at least US$14.99 million, the Taiwan External Trade Development Council (TAITRA, 外貿協會) said yesterday.
The delegation, which has visited Russia, Ukraine and Romania, is on the final leg of its tour in Bulgaria. It is expected to return to Taiwan on Friday.
On the first three stops, the mission took orders totaling US$1.95 million, TAITRA officials said, adding that more orders worth US$13.03 million are expected in the coming year from the three countries.
More than 30 Taiwanese suppliers took part in the mission, representing hardware products, hand tools, automotive and motorcycle parts and accessories, computer peripherals, industrial machinery, plastic and rubber raw materials and products, textiles and housewares.
Science park inks Spain deal
The Central Taiwan Science Park (中部科學園區) and Spain’s Murcia Science Park inked a letter of intent of cooperation on Monday.
Central Taiwan Science Park Administration director-general Yang Wen-ke (楊文科) and Murcia Science Park Foundation executive director Francisco Vidal signed the pact and promised to increase cooperation to promote scientific progress and industrial competitiveness.
Yang said that the Murcia park is the eighth international park to establish sisterhood relations with his park, and the first one from Europe, signifying a big stride forward for his administration’s efforts to connect with the international community.
DeNoma named bank chair
The board of Chinatrust Financial Holding Co (中信金控) appointed Michael DeNoma as chairman of its banking subsidiary Chinatrust Commercial Bank (中國信託商銀) yesterday.
DeNoma, 53, was chief executive officer of global consumer banking and a group executive director at Standard Chartered Plc, and has an extensive background in merger and acquisition activities, the company said in a press statement.
He participated in Standard Chartered’s acquisitions of Korea First Bank in 2005 and Hsinchu International Commercial Bank (新竹國際商業銀行) in 2006.
DeNoma’s predecessor, Charles Lo (羅聯福), has been promoted to vice chairman of the parent company and is responsible for its expansion into Chinese markets, the statement said.
Lo was also designated to be the chairman of the bank’s Chinese subsidiary once it is established, the bank said.
NT dollar gains ground
The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.125 to close at NT$32.818.
A total of US$1.10 billion changed hands during the day’s trading.
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,
‘SWARM TECH’: Joint venture FARobot is to develop autonomous mobile robots that would first be deployed in Hon Hai’s factories to optimize production efficiency Hon Hai Precision Industry Co (鴻海精密) and Adlink Technology Inc (凌華科技) have formed a robotic venture that aims to use “swarm technology” to create robots that can communicate with one another on the factory floor to optimize production efficiency. Hon Hai is Apple Inc’s leading iPhone assembler and the world’s largest contract electronics maker, while Adlink supplies industrial computers and Internet of Things solutions. Through a subsidiary, Hyield Venture Capital Co (鴻揚創投), Hon Hai holds a 51 percent stake in autonomous mobile robot (AMR) developer FARobot (法博智能移動), while Adlink owns the remaining 49 percent. Together, the two companies put up NT$200