TAIEX closes lower
The TAIEX closed lower yesterday after a lackluster Wall Street performance overnight as hopes for further monetary easing by the US Federal Reserve were dashed by the Federal Reserve chairman’s comments, dealers said.
Federal Reserve Chairman Ben Bernanke confirmed that the Fed’s program to purchase US$600 billion in Treasury bonds to boost liquidity and stimulate the stagnant US economy would end at the end of this month as planned.
The TAIEX fell 49.57 points, or 0.55 percent, to close at the day’s low of 9,007.53, off a high of 9,070.25, on turnover of NT$91.26 billion (US$3.2 billion).
Foxconn dropped from HSI
Foxconn International Holdings Ltd (富士康控股), the world’s biggest contract electronics supplier, has lost its blue-chip status after being dropped from Hong Kong’s Hang Seng Index (HSI), an HSI official said yesterday.
The changes took effect on Tuesday.
Foxconn shares have lost about 34 percent of their value in the past year.
Quanta revenue slips 5.6%
Quanta Computer Inc (廣達電腦), the world’s largest contract maker of laptop computers, yesterday posted revenue of NT$86.4 billion for last month, down 5.6 percent from April.
The figure was a 6.6 percent decline from the same month last year, according to a company statement.
The maker reported a record NT$114.6 billion in March on strong shipments.
Total revenue for the first five months was NT$429.2 billion, down 1.5 percent from the same period of last year, it said.
Quanta shipped 4.7 million portable PCs last month, up from 4.6 million in April. -Total -shipments for the first five months were 22.4 million units.
TPK sales continue to soar
TPK Holdings Co (宸鴻), a major supplier of touch screens for Apple’s iPhone and iPad tablet computer, saw last month’s sales nearly triple from a year ago to the highest monthly level ever in the company’s history.
The company’s consolidated sales totaled NT$11.23 billion last month, up 192.7 percent from a year ago and up 16.1 percent from the previous month.
TPK on Tuesday attributed the strong growth to higher demand for tablet devices.
The company was optimistic over its sales in the coming months, saying its overall operations this month were good and noting that next month would mark the beginning of the traditional peak season in the third quarter.
Taiwan’s fuel shipments down
Taiwan purchased less fuel last month after growth in industrial output slowed, damping fuel demand.
Shipments declined 22 percent from a year earlier to 24.3 million barrels last month, the Ministry of Finance said yesterday.
The nation’s oil bill for last month climbed 13 percent to NT$2.87 billion, the ministry said.
Taiwan’s industrial output advanced 6.85 percent in April from a year earlier, the least in 19 months, a Ministry of Economic Affairs report showed on May 23.
Production by the petroleum and coal industries fell 14 percent.
NT dollar nudges higher
The New Taiwan dollar rose against the US currency yesterday, up NT$0.015 to close at NT$28.720.
Turnover totaled US$571 million during the trading session.