TAIEX follows Wall Street higher
The TAIEX made a comeback yesterday, closing above the 8,700-point mark after Wall Street staged its highest one-day rally of the year overnight on better-than-expected US data about housing statistics and building permits, dealers said.
The bellwether electronics sector led the gains as Apple beat market expectations by reporting stronger-than-expected results for the quarter that ended in June, they said.
Smartphone maker HTC Corp (宏達電) rebounded from its recent sell-off after Google Inc voiced support for the local company, which has been found by the US International Trade Commission in an initial ruling to have infringed upon two Apple Inc patents, they said.
The index closed up 181.60 points, or 2.13 percent, at the day’s high of 8,706.17, off a low of 8,612.53 on turnover of NT$133.69 billion (US$4.63 billion).
Chailease applies for listing
Chailease Holding Co Ltd (中租控股) filed an application with the Taiwan Stock Exchange for primary listing yesterday, making it the ninth foreign company to apply for a primary listing in Taiwan so far this year.
Cayman Islands-registered Chailease Holding has a share capital of NT$7,553 million. It deals in leasing, installment sales, factoring, direct financing and debt collection.
Last year, the company reported NT$12.92 billion of revenue, NT$2.32 billion of net income and earnings per share (EPS) of NT$2.65. In the first quarter of the year, it posted NT$3.58 billion in revenue, NT$519 million of net income and an EPS of NT$0.68.
Conference a first for Taiwan
The 21st annual Flexible Automation and Intelligent Manufacturing (FAIM) International Conference was held at the Central Taiwan Science Park (CTSP, 中部科學園區) campus of Feng Chia University from June 26 to June 29.
The conference attendees numbered about 130, including 57 international experts from 17 countries. It was the first time the FAIM International Conference was held in Taiwan.
Banks sign cooperation deal
Taiwan Cooperative Bank (合庫銀行) and China’s Bank of Communications (交通銀行) signed an agreement to cooperate on financial services, the Taipei-based company said in a statement to the Taiwan Stock Exchange yesterday.
Huawei, Foxconn ink deal
China’s Huawei Technologies Co (華為) and Taiwan-funded Foxconn Technology Group (富士康) signed a memorandum of understanding on Tuesday that will bring US$2 billion (NT$57.8 billion) in purchase orders to Foxconn by 2013.
Huawei is expected to buy communications products, ranging from printed circuit boards (PCBs) and terminal devices to whole integrated units, with the deal taking effect from this year to 2013, Foxconn vice president Terry Cheng (程天縱) said at a signing ceremony.
Last year, Huawei’s purchase orders at Taiwanese manufacturers reached NT$99.5 billion and that number is forecast to grow 10 percent to NT$110 billion this year, Huawei vice president Wu Kunhong (吳昆紅) said.
NT dollar flexes new strength
The New Taiwan dollar rose against the US currency yesterday, adding NT$0.05 to close at NT$28.870 as Asian currencies flexed new strength after regional stock markets posted strong gains on Wall Street’s overnight rally, dealers said.
A rebound on the local bourse led to fund inflows into the country, lending further support to the local currency, they said.
Turnover totaled US$900 million during the trading session, compared with US$903 million in the previous session.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last