Chipmakers lift TAIEX
The TAIEX staged a rebound yesterday to move above the 7,100 point mark on the back of solid gains posted by select large-cap electronics firms, dealers said.
Led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, high-tech firms attracted bargain hunting after the Philadelphia Semiconductor Index gained 3.55 percent on Wall Street overnight, they said.
Shares in TSMC rose 3.61 percent to close at NT$77.50, while rival United Microelectronics Corp (聯電) gained 2.88 percent to end at NT$12.50.
The weighted index closed up 99.52 points, or 1.41 percent, at 7,148.57, after moving between 7,098.18 and 7,163.75, on turnover of NT$60.91 billion (US$2.03 billion).
Hon Hai wants Sharp board role
Hon Hai Precision Industry Co (鴻海精密), after agreeing to buy a stake in Sharp Corp and winning three director’s positions at their panel joint venture, is in talks to get seats on the Japanese electronics maker’s board.
Hon Hai founder Terry Gou (郭台銘) has invested ￥66 billion (US$835 million) for a 37.6 percent stake in Sakai Display Products Corp, a panel-making venture formerly known as Sharp Display Products Corp.
Three board members sent by Hon Hai were approved at a shareholders’ meeting on Tuesday, while the same number of directors selected by Sharp, including the president, were also elected, said Miyuki Nakayama, a spokeswoman for the Osaka-based Sharp.
Taipower in red despite hike
State-run utility Taiwan Power Co (Taipower, 台電) will lose an estimated NT$80.2 billion (US$2.67 billion) this year, chairman Hwang Jung-chiou (黃重球) said on Wednesday, despite a phased-in hike in electricity rates that began last month.
Hwang said the deficit would increase the company’s accumulated losses to NT$210 billion by the end of the year, and he also expected Taipower to operate in the red next year because of uncertainty in the international fuel market.
In the first six months of the year, Taipower lost NT$71.4 billion, to bring its accumulated losses to NT$189.3 billion as of June 30.
The first phase of the price adjustment occurred on June 10, and the second phase will take effect on Dec. 10.
Wine exhibition opens today
A wine and gourmet exhibition will open in Taipei to give the public a chance to sample different wines and foods and learn more about them, the organizer said yesterday.
The exhibition, running from today through Sunday, will see 100 exhibitors from 15 countries featuring 1,500 wines from around the world, as well as gourmet food and wine glasses, accessories and storage equipment.
Taiwan is the fifth-largest wine importer in Asia, said Kaigo Co (開國), organizer of the event.
Taiwan’s wine imports reached 17.58 million liters last year, up 10 percent from 15.88 million liters in 2010, according to statistics from the Ministry of Finance’s Directorate-General of Customs.
The exhibition will be open to professional buyers today and to the public tomorrow and on Sunday.
NT dollar up on rising TAIEX
The New Taiwan dollar regained its strength against the US dollar yesterday, rising NT$0.018 to close at NT$29.984 after the local bourse staged a strong rebound to boost demand for the local unit, dealers said.
Turnover totaled US$542 million during the trading session.