TAIEX up 1.97 percent
Shares closed higher yesterday, with the TAIEX moving up 152.21 points, or 1.97 percent, to close at 7,847.84.
The local bourse opened at 7,763.43 and fluctuated between 7,762.85 and 7,849.38 during the day’s trading. Market turnover totaled NT$118.08 billion (US$3.72 billion).
Foreign investors and Chinese QDIIs were net buyers of NT$20.02 billion in shares.
Gainers outnumbered losers 2,473 to 675, with 204 stocks remaining unchanged.
UMC to sell corporate bonds
United Microelectronics Corp’s (UMC, 聯電) board approved a plan to sell as much as NT$10 billion in corporate bonds, the Hsinchu-based chipmaker said in a stock exchange filing yesterday.
UMC plans to pay a cash dividend of NT$0.50 per share on 2009 earnings and will invest NT$1.5 billion in UMC New Business Investment Corp, a wholly owned unit, the company said in a separate filing.
TSMC downplays quake impact
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest custom chipmaker, said its first quarter sales guidance would be unaffected by an earthquake earlier this month.
“We will deliver what we promised,” chief financial officer Lora Ho (何麗梅) said yesterday in Taipei.
TSMC said on March 4 that an earthquake in southern Taiwan had caused production losses equal to 1.5 days.
The company said on Jan. 28 it expected this quarter’s revenue to be between NT$89 billion and NT$91 billion, with a gross margin of 46.5 percent to 48.5 percent.
Hannstar eyes Global Brands
Hannstar Board Corp (瀚宇博德) said it plans to buy a stake in Global Brands Manufacture Ltd (精成科技), a filing to the Taiwan Stock Exchange said.
The stake will not exceed 166.5 million shares, the statement said.
Hannstar’s statement came after Global Brands’ major shareholder, Pou Chen Group (寶成集團), said on Tuesday that it would sell the 166.5 million shares, or 40 percent, it owns in the printed-circuit-board maker at prices of at least NT$27.5 per share.
Orchid show sets records
The Taiwan International Orchid Show, one of the nation’s major flower exhibitions, attracted a record number of orders and participants this year, the organizer said yesterday.
A record NT$5.5 billion in export orders — to be delivered over the next three to five years — were placed at this year’s show in Tainan County, about 53 percent higher than the previous year, Tainan County Commissioner Su Huan-chih (蘇煥智) said.
About 320,000 visitors attended the show at the Taiwan Orchid Plantation in Houbi Township (後壁) from March 6 through Monday, up 20,000 from last year.
Buyers at the show came from 32 countries, three more than last year’s 29, Su said.
Customs figures showed that exports of orchids, which account for nearly 79 percent of Taiwan’s horticultural exports, totaled US$86.8 million last year, up 7.4 percent from a year earlier.
Moreover, exports of Taiwan’s most popular orchid variety, the butterfly orchid, totaled US$63.87 million last year, up 22 percent from US$52.2 million in 2008.
NT dollar edges up
The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.073 to close at NT$31.747. Turnover was US$841 million.
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
US-CHINA TENSIONS: The company said that it supplies self-designed chips to the Chinese company and, as such, is not affected by the latest US export restrictions Macronix International Co (旺宏電子) said it does not expect its shipments of memory chips to Huawei Technologies Co (華為) to be affected by the latest US export restrictions on the Chinese tech giant. “As long as the company [Huawei] places orders, we will ship [chips], unless the [Taiwanese] government restricts all Taiwanese companies from shipping” to Huawei, Macronix chairman and chief executive officer Miin Wu (吳敏求) said on Monday in Hsinchu. The US Department of Commerce on Friday took a further step to block chip supplies from non-US companies to Huawei by requiring foreign semiconductor makers to get US government permission before
E Ink Holdings Inc (元太科技), the world’s sole supplier of e-paper displays for e-readers and shelf labels, posted its best quarterly net profit for the first quarter in nine years amid increased demand during a traditionally slow season. Net profit soared 80 percent to NT$787 million (US$26.23 million) in the quarter ended March 31, compared with NT$438 million a year earlier. That translated into earnings per share of NT$0.69, up from NT$0.39. E Ink posted lower royalty income of NT$371.23 million last quarter from NT$448.74 million a year earlier, a company financial statement showed. E Ink said that it expects royalty income to