Share prices close higher
Share prices closed 0.58 percent higher yesterday at a six-month high, tracking Wall Street’s overnight gains and strong regional markets, dealers said.
The TAIEX rose 45.50 points to 7,901.50 on turnover of NT$118.42 billion (US$3.7 billion). The index is at its best level since hitting 7,902,44 on June 20.
Gainers led losers 1,413 to 1,247 with 294 stocks unchanged.
TWSE approves Integrated
Taiwan Stock Exchange Corp (TWSE, 台灣證交所) yesterday approved Integrated Memory Logic Ltd’s application to trade shares on the local bourse, the stock exchange said in a statement. No date was set for its first trading day.
With a capitalization of NT$600.4 million (US$18.56 million), the Cayman Islands-registered Integrated Memory is a fab-less semiconductor maker for specific analog and mixed signal integrated circuits, primarily used in the flat panel display and mobile systems.
Founded in 1996 and headquartered in Campbell, California, the company is expanding its global presence in South Korea, Taiwan, China and other Asia/Pacific regions, Integrated Memory’s Web site showed.
The company reported NT$583.2 million pre-tax profit for the first three quarters of this year, or NT$6 in earnings per share. Last year, it made a profit of NT$413.8 million, or NT$5.06 per share.
Cosmos promotes Lo
The board of Cosmos Bank Taiwan (萬泰銀行) yesterday promoted incumbent chief executive Paul Lo (盧正昕) to chairman, replacing outgoing chairman Jeffrey Hendren, the bank said in an exchange filing yesterday.
Lo, former chief executive of SinoPac Financial Holdings Co (永豐金控) and chairman of Bank SinoPac (永豐銀行), will also double as the bank’s acting president until a new successor is found, the exchange filing said.
The bank will be required to notify the Financial Supervisory Commission of Lo’s chairmanship, though no regulator approval is necessary.
TSMC works with Tsinghua
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest custom-chip maker, will cooperate with Beijing’s Tsinghua University on 65-nanometer and 90-nanometer semiconductor technology.
TSMC made the announcement in a statement on its Web site yesterday.
Meanwhile, Advanced Microlectronic Products Inc (元隆電子) plans to sell 258 million shares through a private placement with the price tentatively set at NT$5.89 each, the Hsinchu-based semiconductor maker said in an exchange filing yesterday.
Hon Hai Precision Industry Co (鴻海精密) also plans to raise as much as US$1 billion selling bonds convertible into its stock to overseas investors, the company said on Tuesday.
HSBC executive jailed
A former senior executive in HSBC’s commercial banking department was jailed for 20 months in Hong Kong yesterday for taking a US$60,000 bribe from a client.
The District Court sentenced Taiwanese Chen Ching-hsiao (陳清曉), 47, after he pleaded guilty this month to accepting a bribe, a court spokeswoman said.
As part of his sentencing, Chen was ordered to pay the bank US$60,000, the amount that he accepted to approve a US$10 million loan for a Taiwanese client two years ago, she said.
NT dollar loses ground
The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.005 to close at NT$32.360. Turnover was US$592 million.
WEAKER ACTIVITY: The sharpest deterioration was seen in the electronics and optical components sector, with the production index falling 13.2 points to 44.5 Taiwan’s manufacturing sector last month contracted for a second consecutive month, with the purchasing managers’ index (PMI) slipping to 48, reflecting ongoing caution over trade uncertainties, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The decline reflects growing caution among companies amid uncertainty surrounding US tariffs, semiconductor duties and automotive import levies, and it is also likely linked to fading front-loading activity, CIER president Lien Hsien-ming (連賢明) said. “Some clients have started shifting orders to Southeast Asian countries where tariff regimes are already clear,” Lien told a news conference. Firms across the supply chain are also lowering stock levels to mitigate
Six Taiwanese companies, including contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), made the 2025 Fortune Global 500 list of the world’s largest firms by revenue. In a report published by New York-based Fortune magazine on Tuesday, Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), ranked highest among Taiwanese firms, placing 28th with revenue of US$213.69 billion. Up 60 spots from last year, TSMC rose to No. 126 with US$90.16 billion in revenue, followed by Quanta Computer Inc (廣達) at 348th, Pegatron Corp (和碩) at 461st, CPC Corp, Taiwan (台灣中油) at 494th and Wistron Corp (緯創) at
NEW PRODUCTS: MediaTek plans to roll out new products this quarter, including a flagship mobile phone chip and a GB10 chip that it is codeveloping with Nvidia Corp MediaTek Inc (聯發科) yesterday projected that revenue this quarter would dip by 7 to 13 percent to between NT$130.1 billion and NT$140 billion (US$4.38 billion and US$4.71 billion), compared with NT$150.37 billion last quarter, which it attributed to subdued front-loading demand and unfavorable foreign exchange rates. The Hsinchu-based chip designer said that the forecast factored in the negative effects of an estimated 6 percent appreciation of the New Taiwan dollar against the greenback. “As some demand has been pulled into the first half of the year and resulted in a different quarterly pattern, we expect the third quarter revenue to decline sequentially,”
RESHAPING COMMERCE: Major industrialized economies accepted 15 percent duties on their products, while charges on items from Mexico, Canada and China are even bigger US President Donald Trump has unveiled a slew of new tariffs that boosted the average US rate on goods from across the world, forging ahead with his turbulent effort to reshape international commerce. The baseline rates for many trading partners remain unchanged at 10 percent from the duties Trump imposed in April, easing the worst fears of investors after the president had previously said they could double. Yet his move to raise tariffs on some Canadian goods to 35 percent threatens to inject fresh tensions into an already strained relationship, while nations such as Switzerland and New Zealand also saw increased
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