Share prices close lower
The TAIEX closed down 0.20 percent yesterday as investors pocketed early profits when the market hit the day’s high, following Wall Street’s overnight recovery, dealers said.
The TAIEX fell 15.77 points to 7,835.54, after fluctuating between 7,817.87 and 7,903.47, on turnover of NT$118.39 billion (US$3.71 billion).
The market opened up 0.64 percent, reflecting Wall Street’s 0.45 percent rise, but profit taking emerged as investors started dumping select old economy stocks, eroding early gains amid lingering concerns over the global economy, dealers said.
A total of 2,273 stocks closed down and 1,391 up, while 338 were unchanged.
Trend Micro shares rise
Shares of Trend Micro Inc (趨勢科技) rose the most in more than a year in Tokyo trading after DigiTimes reported the Taiwanese maker of antivirus software has been approached for a possible takeover.
Trend Micro climbed 10.27 percent to close at ¥2,576 on the Tokyo Stock Exchange, the biggest advance since April 30 last year, after soaring as much as 21 percent. The company has received no concrete acquisition proposals, Trend Micro said in a statement yesterday.
The company isn’t ruling out accepting acquisition offers, Taipei-based DigiTimes reported earlier, citing the company’s chief executive officer Eva Chen (陳怡樺). Chen didn’t name the possible buyer, according to the report.
Taiwan PVA firms ‘broke rules’
The US Department of Commerce said on Wednesday it had found in a preliminary determination that Taiwan’s polyvinyl alcohol (PVA) firms violated anti-dumping rules.
The department issued a preliminary anti-dumping rate of 3.02 percent on Taiwan’s PVA sales and instructed US Customs and Border Protection to collect a cash deposit or bonds from Taiwanese firms when they sell their products to the US.
The department is continuing its investigation and is expected to reach a final decision on Jan. 20 next year, the department’s International Trade Commission said.
The commission said that if it determines Taiwanese PVA firms violated US dumping rules, it will impose an anti-dumping duty on Taiwan’s PVA products in March.
PVA, a dry, water-soluble synthetic polymer, is used in a wide range of applications, including textile and paper sizing and adhesive formulations.
Taishin announces tie-up
Taishin Financial Holding Co (台新金控) said yesterday in a stock exchange filing that it had signed a letter of intent with China’s Nanjing Zijin Investment Co (南京紫金投資控股) on information exchange and business cooperation.
The company did not elaborate on the agreement. The investment firm was established by the Nanjing city government in 2008.
New WiMAX service for Hsinchu
First International Telecommunication Corp (大眾電信) launched WiMAX services in Hsinchu yesterday, the last of the nation’s six WiMAX operators to offer high-speed data transmission services after it obtained a license from government on March 10.
The company, which also provides second-generation (2G) services on short-range PHS technology, said it planned to apply for permission for the commercial launch of its M-Taiwan project in Taipei in the middle of next month.
NT dollar gains on greenback
The New Taiwan dollar gained ground against the US dollar yesterday, rising NT$0.04 to close at NT$31.939.
Turnover totaled US$460 million during the trading session.
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
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
US CONSCULTANT: The US Department of Commerce’s Ursula Burns is a rarely seen US government consultant to be put forward to sit on the board, nominated as an independent director Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday nominated 10 candidates for its new board of directors, including Ursula Burns from the US Department of Commerce. It is rare that TSMC has nominated a US government consultant to sit on its board. Burns was nominated as one of seven independent directors. She is vice chair of the department’s Advisory Council on Supply Chain Competitiveness. Burns is to stand for election at TSMC’s annual shareholders’ meeting on June 4 along with the rest of the candidates. TSMC chairman Mark Liu (劉德音) was not on the list after in December last