Profit-taking hurts TAIEX
The TAIEX posted limited gains yesterday as profit-taking set in to erode early the upside after the index breached the technical resistance level of around 7,800 points, dealers said.
The index closed up 16.40 points or 0.21 percent at 7,757.76, after moving between 7,755.55 and 7,886.04, on turnover of NT$133.73 billion (US$4.6 billion).
ASE to buy back shares
Advanced Semiconductor Engineering Inc (ASE, 日月光半導體) plans to buy back 50 million common shares, or 0.74 percent of total outstanding shares, the company said in a statement to the Taiwan Stock Exchange yesterday.
ASE plans to buy back shares at between NT$20 and NT$42 each from today through Nov. 1, it said.
CPC raises natural gas prices
State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) will raise domestic prices of natural gas for households by NT$0.46 per cubic meter starting today and keep liquefied petroleum gas prices unchanged this month, the refiner said in a statement yesterday.
CSC sells bonds
China Steel Corp (CSC, 中鋼), the nation’s largest integrated steelmaker, sold NT$9.3 billion worth of five-year unsecured bonds at 1.36 percent and NT$10.4 billion worth of seven-year bonds at 1.57 percent, the company said in an e-mailed statement yesterday.
Grand Cathay Securities Corp (大華證券) was the financial consultant for the deal, CSC said
Mitsubishi Heavy wins order
Mitsubishi Heavy Industries Ltd and CTCI Corp (中鼎工程) won an order from Taiwan Power Co (台電) to build three coal-fired thermal power units.
The 800 megawatt units will be built near Taipei and will go into operation between 2015 and 2020, Mitsubishi Heavy said in a -statement yesterday.
Mitsubishi Heavy will supply boilers and steam turbines and Mitsubishi Electric Corp will provide power generators, the statement said.
Taiwan Life plans share sale
Taiwan Life Insurance Co (台灣人壽) plans to sell 45 million new shares to raise a about NT$1.035 billion to help strengthen capital structure and fund operations, the company said in a statement to the stock exchange on Wednesday.
Banks make provisions
ProMOS Technologies Inc’s (茂德科技) creditor banks had set aside NT$29.4 billion (US$1.01 billion) for bad debts as of the end of last month, the Financial Supervisory Commission said in a statement on Wednesday.
The provisions cover 54 percent of the chipmaker’s outstanding loans with the 26 banks, the commission said.
Hannstar pays to settle case
Hannstar Display Corp (瀚宇彩晶) agreed to pay US$14.9 million in a US anti-trust case, the company said in a statement to the stock exchange on Wednesday.
DeNoma earns promotion
Chinatrust Financial Holding Co (中信金控) on Wednesday approved a plan to put the president and chief executive officer of its banking subsidiary Chinatrust Commercial Bank (中國信託商銀), Michael DeNoma, in charge of the parent’s banking business to help the group lift its global stature, Chinatrust Financial said in a statement.
DeNoma’s job will be filled by James Chen (陳佳文), a senior vice president in charge of institutional lending, the statement said.
NT dollar gains ground
The New Taiwan dollar continued gaining ground against the US currency yesterday, rising NT$0.06 to close at NT$28.96. Turnover totaled US$821 million during trading.
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
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
US CONSCULTANT: The US Department of Commerce’s Ursula Burns is a rarely seen US government consultant to be put forward to sit on the board, nominated as an independent director Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday nominated 10 candidates for its new board of directors, including Ursula Burns from the US Department of Commerce. It is rare that TSMC has nominated a US government consultant to sit on its board. Burns was nominated as one of seven independent directors. She is vice chair of the department’s Advisory Council on Supply Chain Competitiveness. Burns is to stand for election at TSMC’s annual shareholders’ meeting on June 4 along with the rest of the candidates. TSMC chairman Mark Liu (劉德音) was not on the list after in December last