TAIEX climbs 1.54 percent
Taiwan’s benchmark index climbed 1.54 percent yesterday after Wall Street staged a strong overnight showing on better-than-expected quarterly results by US corporations, dealers said.
The TAIEX rose 117.09 points to 7,714.51 after moving between 7,683.83 and 7,720.63, on turnover of NT$118.60 billion (US$3.69 billion).
The market opened 1.20 percent higher on buying triggered by Wall Street’s gains, and the momentum held throughout the session. A total of 2,334 stocks closed up and 953 finished down, with 340 stocks remaining unchanged.
MOEA pushes OPhone plans
The Ministry of Economic Affairs (MOEA) said it was assisting Taiwanese firms to cooperate with their Chinese peers in the development of the OPhone platform — a new smartphone operating system (OS) modified by China Mobile Ltd (中國移動) for the Chinese market.
OPhone is a modification based on the Android open-source OS developed by Google Inc.
Companies on both sides of the Taiwan Strait are working to develop an OPhone ecosystem, including chipsets, integration of hardware and software, as well as applications for telecoms service providers, the ministry said in a statement.
Incentives not definite: minister
Minister of Economic Affairs Shih Yen-shiang (施顏祥) said yesterday that while the government encourages China-based Taiwanese businessmen to make investments at home, it did not necessarily mean that they would be offered incentives such as cheaper land and labor.
“The government absolutely encourages Taiwanese businessmen operating in China to make investments at home. However, they need to think clearly about what they can invest in Taiwan,” Shih said at a seminar held by the Council for Industrial and Commercial Development.
For example, Shih said that primary processing manufacturers were no longer allowed to invest in Taiwan.
BYD to delay China listing
Chinese automaker BYD Co (比亞迪) said yesterday that it wanted to delay its US$420 million China listing over concerns about stock market weakness.
The company, which has won the backing of US billionaire Warren Buffett, previously announced massive expansion plans and said it would consider building a plant in the US.
However, choppy equity markets, including a 24 percent tumble in the Shanghai Composite Index this year, forced Hong Kong-listed BYD to push back its planned share offering in Shenzhen, a spokesman told Dow Jones Newswires.
Fitch sets sights on China loans
Chinese bank lending in the first half was 28 percent higher than official numbers suggested because more loans were repackaged into investment products, “distorting” credit data, Fitch Ratings said.
After adjusting for “informal securitization,” new loans stood at about 5.9 trillion yuan (US$871 billion) in the first six months, topping the People’s Bank of China’s data of about 4.6 trillion yuan posted this month, Fitch said in a statement yesterday.
At the end of last month, more than 2.3 trillion yuan in outstanding credit was in locked up in investment products and off the balance sheets of Chinese banks, Fitch estimated in yesterday’s release, up more than 10-fold from the end of 2007.
NT climbs against greenback
The New Taiwan dollar rose against the US dollar yesterday, up NT$0.108 to close at NT$32.192.
Turnover totaled US$573 million during the trading session.
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NEW CONSIDERATIONS: An airline manager said the idea is tempting, as demand for air cargo is strong, but issues such as training loaders would need to be addressed Taiwanese airlines might repurpose passenger jets to carry cargo in their cabins to offset lost revenue amid the COVID-19 pandemic. Airlines are considering applying to the Civil Aeronautics Administration (CAA) for permission to transport cargo in passenger cabins after StarLux Airlines Co (星宇航空) last month became the first among the nation’s airlines to offer cargo-only flights using the normal cargo holds of its three Airbus SE A321neo passenger jets. “We are considering whether to increase our capacity by putting cargo on passenger seats,” Starlux spokesman Nieh Kuo-wei (聶國維) told the Taipei Times by telephone. “The advantage is that we can improve revenue,