TAIEX rallies on US gains
The TAIEX surged past the 7,300 mark yesterday after investors followed gains on Wall Street overnight, dealers said.
Bargain hunters picked up select large-cap stocks, buoyed by optimism that central banks in major economies would come up with measures to boost the global economy, they said.
However, turnover remained thin amid lingering concern over the eurozone’s debt problems, particularly after the 10-year bond yield in Spain hovered above 7 percent, they added.
The weighted index closed up 61.5 points, or 0.85 percent, at the day’s high of 7,334.63, off an early low of 7,281.41, on turnover of NT$67.13 billion (US$2.25 billion).
Textiles scored the highest gains among the eight major sectors, finishing up 1.73 percent.
E Ink shares rebound
Shares of E Ink Holdings Inc (元太科技), one of the nation’s leading electronic paper display suppliers, surged near the daily limit yesterday after a recent sell-off following disappointing first-quarter results, dealers said.
However, the rebound may be short-lived because strong competition from tablet computers and Apple’s iPad could continue to limit e-paper display demand and E Ink profits even as the industry enters the third quarter, its peak season, dealers said.
Shares of E Ink rose 6.69 percent to close at NT$31.90.
TSMC collaborates with Analog
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday said it had collaborated with customer Analog Devices Inc (ADI) in developing a new 0.18 micron, 5volt analog process technology platform for analog ICs.
This new process technology can help enhance analog performance for a wide range of devices such as analog/digital and digital/analog converters, power management devices and others that are used in consumer electronics, communications, PC, industrial PCs and automotive applications, TSMC said in a statement.
Chunghwa Picture sale backed
Shareholders of flat-panel maker Chunghwa Picture Tubes Ltd (中華映管) yesterday approved the sale of 4.5 billion common shares, or to issue NT$8 billion (US$268 million) in corporate bonds overseas via private placement.
The firm plans to use the proceeds to fund its operations, buy new machines and repay loans. It plans to spend NT$2 billion on adjusting its production lines as it shifts its focus to making panels for mobile devices instead of PCs.
Chunghwa Picture posted a loss of NT$12.48 billion last year, bringing its total losses over the past few years to NT$30.41 billion because of sharp price falls.
New trade shows scheduled
This year’s Taipei International Electronics Show (TAITRONICS) and the Taiwan International Broadband Communications Show will be joined by a new show and two existing shows to form a five-show platform that will be held at the Nangang Exhibition Hall in Taipei from Oct. 9 to Oct. 12, the event’s organizers yesterday said at a press conference.
The first-ever Taiwan International Cloud Technology & Internet of Things Show, the third Taiwan International Green Industry Show and the second Taiwan International Smart Green City Expo will run alongside TAITRONICS and Broadband Taiwan.
The organizers estimated the five shows would attract a total of 1,000 exhibitors and generate more than US$350 million in business.
NT dollar gains ground
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.012 to close at NT$29.878 on turnover of US$597 million.