TAIEX falls on profit-taking
The TAIEX closed down 0.31 percent yesterday as investors pocketed profits from the gains posted by the financial sector in the previous session, dealers said.
The index fell 28.11 points to 8,997.19, after moving between 8,988.58 and 9,046.18, on turnover of NT$161.35 billion (US$5.53 billion).
The market opened up 0.22 percent and moved to the day’s high on follow-through buying, but profit-taking followed as investors dumped financial shares, which had risen on optimism over banks’ profitability in anticipation of continued interest rate increases, dealers said.
A total of 2,441 stocks closed up, 1,986 finished down and 356 remained unchanged.
Tsann Kuen posts strong sales
Shares of Tsann Kuen Enterprise Co (燦坤實業), a computer, communications and consumer electronics product retailer, rallied yesterday after the company reported double-digit growth in sales last month, dealers said.
Tsann Kuen rose 2.84 percent to close at NT$61.50, with 4.29 million shares changing hands.
Earlier in the day, Tsann Kuen reported that sales last month reached NT$2.38 billion, up 20.54 percent from a year earlier. For the whole of last year, Tsann Kuen recorded NT$27.82 billion in sales, up 2.97 percent from 2009.
HK listings may top US$45bn
Initial public offerings in Hong Kong may raise as much as HK$350 billion (US$45 billion) this year, according to an estimate by PricewaterhouseCoopers LLP.
The city may have 110 listings, the accounting firm said yesterday.
Initial offerings in Hong Kong raised a record HK$425.5 billion last year, according to Bloomberg data that include stock sold through the exercise of overallotment shares.
TSMC purchasing equipment
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, bought NT$4.3 billion in equipment from five vendors, the company said in five separate filings to the stock exchange yesterday.
The Hsinchu-based company purchased NT$1.28 billion of equipment from Tokyo Electron Ltd, NT$743 million from Hitachi High-Technologies Corp, NT$740 million from Applied Materials South East Asia Pacific Ltd, NT$557 million from Hermes Microvision Inc and NT$938 million from Taiwan’s China Steel Structure Co (中國鋼鐵結構), the statements said.
Highwealth profit up 62 percent
Highwealth Construction Corp (興富發建設), which on Monday bought a 1,051.57-ping (3,470m2) plot of land for NT$5.22 billion in Taipei’s Wanhua District (萬華), said yesterday its profit last year jumped 61.6 percent from a year ago.
The Taipei-based land developer said in a stock exchange filing that pre-tax profit reached NT$7.09 billion last year on a revenue of NT$27.52 billion.
The company had NT$4.39 billion in pre-tax profit and NT$18.86 billion in revenue in 2009, according to its previous filing.
With 706.87 million of its shares outstanding, pre-tax earnings per share was NT$10.50 last year, the filing said.
NT ends little changed
The New Taiwan dollar approached a 13-year high before retreating to end little changed on suspected intervention by the central bank.
The NT dollar closed at NT$30.201 against the greenback, Taipei Forex Inc said. It was trading 3.6 percent stronger a minute before the end of the trading session.
NOTABLE SHIFT: By 2030, 50% of all laptops would be assembled in Southeast Asia, while Taiwan would still mostly focus on research and development, a report said Global laptop and desktop computer supply chains are expected to shift significantly away from China in the next 10 years, a Market Intelligence & Consulting Institute (MIC, 產業情報研究所) report said. By 2030, only 40 percent of global laptop production would remain in China, said the report, which was released on Thursday. “The reshuffling of the global supply chain will be one of the most important trends in the next 10 years,” the institute said in the report. “In the long run, key component makers will follow laptop assemblers in moving out of China.” The Taipei-based institute predicted most key component makers
Merck Group Taiwan yesterday said that it plans to invest substantially on expanding its fab in Kaohsiung’s Lujhu District (路竹) to better serve its local customers, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). The company said it plans to expand its production space by 50 percent in the next five years and its workforce by about 40 percent, Merck Group Taiwan managing director Dick Hsieh (謝志宏) told a media briefing in Taipei. Hsieh declined to disclose investment details, but said that the latest investment would exceed the total amount Merck has invested in Taiwan over the past few years. Those investments would be
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,
‘SWARM TECH’: Joint venture FARobot is to develop autonomous mobile robots that would first be deployed in Hon Hai’s factories to optimize production efficiency Hon Hai Precision Industry Co (鴻海精密) and Adlink Technology Inc (凌華科技) have formed a robotic venture that aims to use “swarm technology” to create robots that can communicate with one another on the factory floor to optimize production efficiency. Hon Hai is Apple Inc’s leading iPhone assembler and the world’s largest contract electronics maker, while Adlink supplies industrial computers and Internet of Things solutions. Through a subsidiary, Hyield Venture Capital Co (鴻揚創投), Hon Hai holds a 51 percent stake in autonomous mobile robot (AMR) developer FARobot (法博智能移動), while Adlink owns the remaining 49 percent. Together, the two companies put up NT$200