TAIEX rises to one-month high
Taiwanese shares closed up 0.98 percent yesterday to a one-month high on strong buying in technology, financial and property stocks, dealers said.
The weighted index rose 65.31 points to 6,715.22 on turnover of NT$127.74 billion (US$3.99 billion), the highest since the June 6 close of 6,856.74.
Gainers led losers 1,447 to 797 with 159 stocks unchanged.
“Financial stocks have become the buying targets, given the current lack of mainstream leaders in the market,” KGI Securities (凱基證券) trader Bill Huang said.
The financial sector edged up 0.9 percent, led by news that investment bank China Development Financial Holdings Corp (中華開發金控) booked a disposal gain of about NT$860 million from selling its stake in Taipei Financial Center Corp (台北金融大樓公司), operator of the Taipei 101 skyscraper.
AUO’s June sales rose 9.6%
AU Optronics Corp (AUO, 友達光電), the world’s third-biggest maker of liquid-crystal-display (LCD) panels, yesterday said that sales last month reached their highest in eight months, another sign of recovery from the industry’s worst downturn.
Last month, AUO posted NT$30.4 billion (US$922 million) in revenues, up 9.6 percent from NT$27.7 billion in May. On an annual basis, however, sales were down 17.3 percent.
Second-quarter sales reached NT$82.5 billion, up 62.6 percent from the first quarter. Compared with the same period last year, they were down 33.2 percent.
Shipments of PC and TV panels jumped more than 70 percent quarter-on-quarter to 22.41 million units in the April-to-June quarter, surpassing the company’s estimate of a 50 percent increase made in late April.
AUO said shipments last month were limited by a shortage of glass substrates.
Quanta loses patent suit
Quanta Computer Inc (廣達), the world’s largest maker of notebook computers, must pay US$52 million for infringing a patent covering technology for identifying the type of disk inserted into a disk drive, a jury said.
The federal jury in Marshall, Texas, deliberated about four hours on Monday before finding Quanta willfully infringed the patent of LaserDynamics and awarded the damages.
Based in Kanagawa-Ken, Japan, LaserDynamics sued in 2006, claiming Quanta and Asustek Computer Inc (華碩) imported and sold DVD players that used its patent. Asustek earlier settled with LaserDynamics.
Quanta said it would appeal the verdict.
Energy use drops in May
The nation’s energy consumption declined for the 11th straight month in May because of reduced demand from manufacturers amid the global recession.
Consumption of coal, petroleum, gas, thermal energy and electricity dropped 10 percent from a year earlier to the equivalent of 9.61 million kiloliters of oil, or about 1.95 million barrels a day, the Bureau of Energy said in an e-mailed report yesterday.
Industrial users slashed energy use by 14 percent, it said.
Consumption of petroleum products fell 6.4 percent from a year earlier to the equivalent of 4.47 million kiloliters of oil in May, the bureau said.
Natural gas use dropped 2.1 percent to 110.2 million cubic meters and coal consumption declined 12 percent to 5.06 million tonnes, it said.
NT dollar weakens
The New Taiwan dollar declined NT$0.001 to close at NT$32.989 against the US dollar on turnover of US$827 million at the Taipei Foreign Exchange yesterday.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last