TAIEX down 0.75 percent
The TAIEX closed down 0.75 percent yesterday as investors kept realizing recent significant gains by dumping large-cap stocks to drag the index down below the key 9,000-point mark, dealers said.
The turnover totaled NT$120.78 billion (US$4.15 billion).
After yesterday’s losses, market sentiment turned cautious,” MasterLink Securities (元富證券) analyst Tom Tang (湯忠謙) said. “Further selling surfaced right after the market opened this morning as many investors rushed to pocket their gains.”
Tang said volatility on Wall Street and other regional markets further dampened investor confidence in the local bourse.
Trust investment capped at 20%
Taiwan will allow securities companies to invest up to 20 percent of their net worth in futures trust businesses, the Financial Supervisory Commission (FSC) said in a statement on its Web site yesterday.
The financial regulator also raised investment caps to invest as much as 20 percent of their net worth, from 10 percent, in investment trust, consulting and securities financing businesses, the statement said.
Motech arranging five-year loan
Motech Industries Inc (茂迪), Taiwan’s biggest solar cell maker by market value, is arranging a five- year loan, according to a person familiar with the matter.
The facility will consist of a NT$6 billion portion and NT$200 million portion with an average life of 4.25 years, said the person, who asked not to be identified because the details are private. The margin for both parts will be 60 basis points over respective benchmark rates, the person said.
E-ton to sell 600 million shares
Local solar cell maker E-ton Solar Tech Co (益通光能) obtained -approval from shareholders to sell 600 million shares via rights issue, or via private placement, the company said in a filing to the Taiwan Stock Exchange late on Thursday.
E-ton shareholders also gave the go-ahead to issue NT$6 billion convertible bonds via private placement.
The Tainan-based company said that the speculation about Hon Hai Group’s (鴻海集團) intention to invest in E-ton by subscribing to its shares, or bonds was incorrect.
TSMC buys NT$4.98bn of gear
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, bought NT$4.98 billion of equipment from five vendors, according to five separate statements to the stock exchange yesterday.
The company purchased NT$579 million of gear from Varian Semiconductor Equipment Associates GmbH, NT$718 million from Dainippon Screen Manufacturing Co and NT$1.44 billion from Applied Materials South East Asia Pacific Ltd, it said. The chipmaker said it bought facilities and engineering equipment at NT$1.57 billion from Daifuku Co and NT$668 million from Taiwan Daifuku Co (台灣大福科技).
NT dollar continues climb
The New Taiwan dollar climbed for an eighth week, its best winning streak since March 2008, as foreigners added to their holdings of the nation’s equities and overseas sales rose more than forecast.
The NT dollar was 1.2 percent stronger one minute before the end of trading, before paring gains to 0.1 percent on suspected intervention by the central bank, according to two traders who declined to be identified.
“Strong economic data are driving the Taiwan dollar’s gain,” said Eric Hsing, a fixed-income trader at First Securities Inc.
A move beyond NT$29 is “very difficult,” he added.
Taiwan’s dollar advanced 0.6 percent this week to close at NT$29.42 against the US dollar.
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
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and