TAIEX follows Wall Street lower
Taiwan’s TAIEX took a dive and closed below the 8,700 point mark yesterday after Wall Street posted losses for the fifth consecutive session amid lingering concerns over the debt crisis in Washington, dealers said.
Market sentiment in the high-tech sector in particular was dampened after Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, reduced its forecast for growth in global foundry industry revenues and TSMC’s capital expenditure this year, they said. The weighted index fell 123.02 points, or 1.40 percent, to 8,644.18, on turnover of NT$141.74 billion (US$4.92 billion).
Dongfeng Yulon eyes success
With the first Luxgen-brand sports utility vehicle (SUV) rolling off the production line in China on Thursday, Yulon Motor Co (裕隆汽車) said its Chinese venture, Dongfeng Yulon Corp (東風裕隆), aims to rake in annual revenue of 100 billion yuan (US$15.5 billion) in 10 years.
Dongfeng Yulon will start selling Luxgen SUVs in September, with prices between 190,000 yuan and 270,000 yuan.
Yulon said the production site in Hangzhou, Zhejiang Province, would initially churn out 5,000 vehicles a month. Production volumes are expected to rise over time given the company’s plans to roll out one to two new models every year in China.
Dongfeng Yulon is Yulon’s joint venture with China’s Dongfeng Motor Corp (東風汽車) set up last year with 3.4 billion yuan in capital.
Kao to lead Yuanta Securities
Yuanta Financial Holding Co (元大金控) yesterday announced plans to reshuffle leadership positions at its brokerage unit ahead of its integration with Polaris Securities Co (寶來證券), a statement said.
The conglomerate appointed Kenneth Kao (高抗勝), chairman of Yuanta Futures Co (元大期貨), to the helm of Yuanta Securities Co (元大證券), the nation’s largest securities house, the statement said.
Kao will replace Teresa Ma (馬維欣), who will retain her seat on the board of the parent and brokerage subsidiary, starting on Aug. 1, the statement said.
Housing price index rises
The housing price index in Taichung reached a new high in the second quarter of this year, driven by increased needs of first-time home buyers and buyers who wanted to shift to homes with wider floor spaces, Sinyi Realty Co (信義房屋) said yesterday.
The index for the central city in a survey conducted by Sinyi Realty was 260.12 last quarter, up 19.7 percent from a year earlier and leading all four major cities around Taiwan in such growth.
The southern city of Kaohsiung, meanwhile, posted a housing price index of 184.52 last quarter, up 16.5 percent year-on-year, the survey found.
Lee Jain-ming (李健銘), a Sinyi researcher, attributed Taichung and Kaohsiung’s growth to industrial development and brisker employment markets.
Taipei’s housing price index stood at 270.21 in the second quarter, up 14.2 percent year-on-year, and New Taipei City’s (新北市) index was 215.85, up 15.4 percent.
MediaTek in Spice Digital deal
MediaTek Inc (聯發科), the nation’s biggest handset chip designer, will invest US$20 million for 10 percent of India’s Spice Digital Ltd, the company said in a statement to the Taiwan Stock Exchange yesterday.
NT dollar ends lower
The New Taiwan dollar depreciated against the US dollar yesterday, down NT$0.045 to close at the day’s high of NT$28.890 as foreign institutional investors sold off shares on the local bourse, dealers said.
Turnover totaled US$889 million during the trading session.
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