Volatile TAIEX up 0.19%
The TAIEX closed up 0.19 percent yesterday after seesaw fluctuations between buying in old economy stocks and selling in the bellwether electronics sector, which has been haunted by a rising New Taiwan dollar, dealers said.
The TAIEX rose 16.28 points to the day’s high of 8,756.71, off a low of 8,698.41, on turnover of NT$136.89 billion (US$4.58 billion).
A total of 1,585 stocks closed up and 2,683 were down with 344 remaining unchanged.
UMC boosts New Business
United Microelectronics Corp (聯電) invested an additional NT$1.5 billion in UMC New Business Investment Corp (聯電新投資事業), a wholly-owned unit, the Hsinchu-based chipmaker said in a statement to the stock exchange yesterday.
Silicon to buy back 30m shares
Silicon Integrated Systems Corp (矽統科技) plans to buy back 30 million common shares, or 4.2 percent of its total outstanding shares, the company said in a statement to the stock exchange yesterday.
The company plans to buy back shares at between NT$13.41 and NT$28.27 each from Dec. 16 to Feb. 15, next year. Shares repurchased from the open market will be transferred to employees, the company said.
TGI investing in super-thin glass
Taiwan Glass Industrial Corp’s (TGI, 台玻) board of directors approved a plan to invest NT$3 billion in a new super-thin glass production line to meet market demand, the company said in a statement to the Taiwan Stock Exchange.
Cathay Life buys Hsinchu land
Cathay Life Insurance Co (國泰人壽) bought real estate in Hsinchu, northern Taiwan, for NT$578 -million, parent Cathay Financial Holding Co (國泰金控) said in a statement to the stock exchange yesterday.
TCB mulls buying Bills Finance
Taiwan Cooperative Bank (TCB, 合作金庫銀行) is considering buying shares in Taiwan Cooperative Bills Finance Corp (合作金庫票券金融) from Bank of Panhsin (板信銀行) and Standard Chartered Bank (Taiwan) Ltd (渣打銀行) to make it a wholly owned subsidiary, the lender said in a statement to the stock exchange yesterday.
It mulls buying 51.78 million shares in the bills finance firm at prices between NT$6.94 and NT$8.03 per share, or a total of up to NT$416 million, Taiwan Cooperative said.
The bank’s board approved a business cooperation agreement draft to be signed with Bank of China Ltd (中國銀行), the lender said in a statement yesterday. The pact needs approval from local regulators before the agreement can be signed, it said.
NT dollar falls slightly
The New Taiwan dollar fell against the US dollar yesterday, dropping NT$0.05 to close at NT$30.5.
Turnover totaled US$881 million during the trading session.
The greenback opened at NT$30.5 and moved between NT$29.800 and NT$30.550 before the close.
Dealers said the New Taiwan dollar continued its momentum from the previous day, rising above NT$30 against the US dollar during most of the trading session before the central bank intervened.
eCareme launches music service
Cloud computing services provider eCareme Technologies Inc (全球聯迅), under Asustek Computer Inc (華碩電腦), yesterday launched a new service that allows users to listen to their favorite music across various mobile devices.
The “MEar” application is its latest “portable music” service. Users can then listen to songs across smartphones, PCs and tablets, as long as the program is downloaded onto these devices.
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