TAIEX inches up amid caution
Taiwan’s benchmark index closed up 0.51 percent yesterday, with dealers saying the market momentum was slightly stronger than a day earlier, but investors remained cautious.
The TAIEX closed 43.51 points higher, ending at 8,596.57, after rebounding from the day’s low of 8,522.57, on turnover of NT$89.531 billion (US$3.04 billion).
A total of 1,789 stocks closed up, 2,120 finished down and 575 remained unchanged.
Taiwan to top semiconductors
Taiwan is expected to emerge as the world’s largest semiconductor material market this year after posting its biggest growth among other countries in the sector last year, a global industry association said yesterday.
Last year, the total sales of semiconductor materials in Taiwan amounted to US$9.11 billion, an increase of 33 percent from the previous year, Semiconductor Equipment and Materials International (SEMI) said in a statement.
Taiwan was the second--biggest global market after Japan, which absorbed US$9.2 billion in semiconductor materials, up 20 percent from a year earlier, the association said. SEMI said the Taiwan market is poised to expand to US$9.6 billion this year, overtaking Japan.
The global semiconductor material market rose 25 percent last year from the previous year to a value of US$43.55 billion, a new high since 2007, when it recorded US$42.67 billion.
Renesas mulling Taiwan sites
Renesas Electronics Corp is considering outsourcing production of some components overseas after its plants suffered damage in Japan’s March 11 earthquake and tsunami.
Renesas is in talks to outsource production of vehicular microcontrollers to Globalfoundries Singapore PTE and some cellphone semiconductor production to -Taiwan Semiconductor Manufacturing Co (台積電), said Shino Inokuma, a spokesman for Renesas.
MOEA plans ‘unique’ tours
The Ministry of Economic Affairs (MOEA) yesterday unveiled a plan to introduce 39 tour packages featuring unique events around Taiwan, which the ministry estimates could generate NT$50 billion a year.
The packages, to be launched in collaboration with the Tourism Bureau, will also cover local events such as the April-May nature festival in Pingsi District (平溪), New Taipei City (新北市), and an annual summer concert in Nanjhuang Township (南庄), -Miaoli County, said Yeh Yun-lung (葉雲龍), director-general of the ministry’s Department of Commerce.
Tourism Bureau Director--General Janice Lai (賴瑟珍) said the packages would offer foreign visitors an in-depth experience of Taiwan and would be very attractive to independent travelers from Singapore, Malaysia and Hong Kong.
Local Coffee Bean could open
US-based Coffee Bean & Tea Leaf is eyeing the Taiwanese market and planning to open its first shops next year, its chief executive said yesterday.
Mel Elias, CEO and president of Coffee Bean, said he has begun to seek business partners in Taiwan and could open outlets shortly.
Elias is planning the first round of openings in Taipei, although the timetable is still under consideration.
Coffee Bean is a Los Angeles-based coffee chain, owned and operated by International Coffee & Tea, LLC. Its first store opened in 1963. The chain now has more than 750 outlets in 22 countries.
NT dollar up against greenback
The New Taiwan dollar rose against the US dollar yesterday, up NT$0.022 to close at NT$29.477.
Turnover totaled US$644 million during the trading session.
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