Apple’s vendors sap TAIEX
Losses incurred by some firms in the Apple supply chain continued to place downward pressure on the broader market amid lingering concerns over global demand for high-tech devices, dealers said.
However, select market heavyweights, such as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), and financial stocks attracted bargain hunters to prevent the TAIEX from falling further, they said.
The weighted index closed down 8.44 points, or 0.12 percent, at 6,970.69, after moving between 6,963.57 and 7,023.78, on turnover of NT$60.35 billion (US$2.0 billion).
Among the firms in the Apple supply chain, Hon Hai Precision Industry Co (鴻海) fell 1.71 percent to close at NT$80.50 and battery supplier Simplo Technology Co (新普) shed 2.30 percent to end at NT$170.
Bucking the downtrend of the broader market, TSMC closed up 2.28 percent at NT$76.30 and SinoPac Financial Holdings Co (永豐金控) ended up 2.13 percent at NT$12.
Evergreen gets new ship
Evergreen Group (長榮集團) on Wednesday announced it has taken delivery of a new 8,452 twenty-foot equivalent unit (TEU) vessel from South Korea-based shipbuilder Samsung Heavy Industries Co.
It was the first 8,000-TEU container ship delivered to Evergreen, with Samsung Heavy Industries scheduled to deliver the other 19 vessels in the next two years.
The new boat, named Ever Lambent (長華輪), is owned by Evergreen Marine (UK) Ltd and expected to join the route between the Far East and Europe from next month, the group said.
Evergreen commenced a new shipbuilding project from 2010. It also placed an order for another 10 vessels of the same specifications with CSBC Corp, Taiwan (台灣國際造船) to be delivered from next year to 2015.
Cathay Securities inks MOU
Cathay Securities Co (國泰證券), the brokerage arm of Cathay Financial Holding Co (國泰金控), said on Wednesday it had signed a memorandum of understanding (MOU) with Haitong Securities Co (海通證券), the second-largest securities firm in China, on a business partnership.
Cathay Securities said the partnership would involve securities brokering business, development of new financial instruments, financial planning and advice and financial market research.
Eversol venture opens factory
Eversol Corp (旭晶能源), a Taiwanese manufacturer of silicon wafers for the solar industry, said on Wednesday its Japanese joint venture opened a new solar module factory in Matsuyama City, Eihime Prefecture.
The E-Solar Co facility will manufacture multicrystalline silicon wafers that will generate an estimated 50 megawatts of electricity per year, targeting Japan’s domestic market, Eversol said.
Eversol holds 61 percent of the shares in E-Solar, which is a joint venture with West Holdings Corp, a Japanese company that specializes in solar panel installation.
NT dollar gains ground
The New Taiwan dollar turned strong against the US dollar yesterday after falling for three days, adding NT$0.056 to close at NT$30.150 as the local currency staged a technical rebound in line with its counterparts in the region, dealers said.
The strength of the regional currencies reflected a recovering euro, which regained ground against the greenback on expectations that leaders in the EU will agree to inject more funds to prevent the debt problems from deteriorating, they said
Turnover totaled US$727 million during the trading session.