TAIEX down 0.07 percent
The TAIEX closed down 0.07 percent yesterday as investors adopted a wait-and-see attitude with the Lunar New Year holiday approaching, dealers said.
The benchmark index slid 6.59 points to 8,947.79, after moving between 8,927.49 and 8,993.56, on turnover of NT$94. 53 billion (US$3.25 billion), the lowest volume for two months.
A total of 1,396 stocks closed up, 2,800 finished down, and 418 remained unchanged.
Hon Hai sues Suyin Corp
Suyin Corp (實盈) said it has hired lawyers to defend it in legal proceedings brought by Hon Hai Precision Industry Co (鴻海), the Taipei-based company said in a statement to the Taiwan Stock Exchange yesterday. The lawsuit would not affect the company’s sales or shipments, the statement said.
Hon Hai’s Chinese unit sued Suyin’s China unit in Dongguan for allegedly infringing its patents for central processing unit sockets, Hon Hai said. The suit was filed with the Dongguan Intermediate People’s Court.
Exports to grow by 10%
Taiwan will likely see 10 percent growth in exports this year thanks to the landmark trade pact signed between Taiwan and China last year, Minister of Economic Affairs Shih Yen-shiang (施顏祥) said yesterday.
The Economic Cooperation Framework Agreement (ECFA) has further liberalized trade across the Taiwan Strait and created tariff reductions, Shih said in a keynote speech delivered at Academia Sinica.
The market-opening moves stipulated in the ECFA will also create new business opportunities in Taiwan, Shih added.
Against this backdrop, the minister said, “there should be no problem in achieving 10 percent growth in exports this year.”
Meanwhile, Shih forecast that the ECFA will attract an estimated NT$1.1 trillion (US$34.4 billion) in private investment to Taiwan this year.
CEPD targets 4.9% jobless rate
The Council for Economic Planning and Development (CEPD) set a target of 4.82 percent for economic growth this year, it said in an e-mailed statement yesterday.
The council also targeted a jobless rate of 4.9 percent this year, according to the statement.
GFS secures Asiaworld floor
Global Funeral Service Co (GFS, 國寶服務) yesterday won the second foreclosure auction for the second floor in the Asiaworld Department Store (大亞百貨) right in front of Taipei Train Station for NT$574 million, the Taipei District Court said.
The funeral service provider won the second floor, which measures 783.7 ping (2,586m2) and is currently leased to an asset management firm, with a 25 percent premium on expectation of a 4 percent return.
The result of the auction translated into NT$733,500 per ping while the monthly rental is NT$2,500 per ping.
CHT returns to local bourse
Shares in Chunghwa Telecom Co (CHT, 中華電信) are scheduled to resume trading on the local stock market at NT$88.87 per share today.
The stock has been uspended from trading since Jan. 7 because of a 20 percent reduction in the firm’s paid-in capital from NT$96.97 billion to NT$77.57 billion.
NT dollar up against US dollar
The New Taiwan dollar rose against the US dollar yesterday, gaining NT$0.1 to close at NT$29.32 on demand for the local currency from exporters and foreign banks, dealers said.
Turnover totaled US$806 million during 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
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
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