Panel sales hit monthly high
Global flat-panel sales for last month hit the highest monthly figure of the year on the back of strong demand partly boosted by China’s week-long national holiday that ended earlier this month, a market researcher said yesterday.
Revenues of panels worldwide reached US$8.5 billion last month, up 5 percent from a month earlier and 13 percent annually, DisplaySearch said.
Global shipments of LCD TV panels rose 4 percent last month from a month earlier to 21.5 million units, while shipments of panels for computer monitors edged up 1 percent to 15.6 million units, the researcher said.
Meanwhile, worldwide shipments of panels for cellphones rose 8 percent from a month earlier to 31.9 million units last month, which represented an annual increase of 22 percent, it said.
Boeing to establish HK center
The Hong Kong Polytechnic University confirmed a media report yesterday that it will collaborate with Boeing Co in setting up an aircraft maintenance and service center in Hong Kong.
According to the university, the school is scheduled to sign a memorandum of understanding with the US-based aerospace and defense corporation on the cooperative project Nov. 10, as was reported in Hong Kong’s Singtao Daily.
The newspaper said Boeing has decided to open an aircraft maintenance and service center in Hong Kong in cooperation with the university mainly because Hong Kong is a major global aviation hub with more air carriers operating flights to and from Hong Kong.
US losses push TAIEX down
The TAIEX edged lower yesterday, dragged down by losses on four major indices on Wall Street on Friday.
The weighted index closed down 35.72 points, or 0.48 percent, to end at 7,373.04 on turnover of NT$49.08 billion (US$1.68 billion).
Six consecutive sessions with turnover of under NT$70 billion prior to trading yesterday left investors feeling lukewarm about the local bourse’s prospects and led many to stay on the sidelines, dealers said.
A total of 1,339 stocks closed up, 2,750 were down, and 392 remained unchanged.
Most of the market’s eight major stock categories closed down, with food shares suffering the heaviest losses at 1.0 percent.
The local bourse may remain in a correctional mode in the near term, dealers said, adding that the TAIEX would not likely plunge in the short term before the uncertainties hanging over the market became clearer.
Trade office to hold forum
The Taipei-based Central America Trade Office is to hold a forum and raffle in Taipei today in a bid to give people an insight into ancient Mayan civilization and attract more visitors to Central America.
Experts from Belize, Guatemala, El Salvador and Honduras are scheduled to talk about Mayan astronomy, its calendar and ruins, as well as the popular but long-since debunked myth of a Mayan prophecy that Dec. 21 this year will be the end of the world, the office said yesterday.
Two Taiwanese will also share their experiences traveling in Central America at the one-day free forum at National Chiang Kai-shek Memorial Hall. The forum is also to feature a prize draw of tickets to Central America, according to the office.
NT dollar loses ground
The New Taiwan dollar lost ground against the US dollar yesterday, declining NT$0.034 to close at NT$29.320.
Turnover totaled about US$508 million during the trading session.
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CORPORATE SCANDAL: Cathay Life has invested NT$13.3 billion in Bank Mayapada since 2015, but the latest loss of NT$8.8 billion has completely written off its investment Cathay Life Insurance Co (國泰人壽) yesterday said it would recognize an investment loss of NT$8.8 billion (US$298.1 million) in Indonesia’s Bank Mayapada Internasional Tbk PT due to concerns about the lender’s operations amid a corporate scandal. The company said it would revise its earnings result for June, from a net profit of NT$6.52 billion to a net loss of NT$520 million, its first monthly loss over the past 17 months. After booking an investment loss of NT$5.2 billion in Bank Mayapada earlier this year, Cathay Life has so far recognized total investment losses of NT$14 billion in the lender, executive vice president
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported that revenue last month expanded 25 percent annually, but fell 12.8 percent month-on-month to NT$105.96 billion (US$3.59 billion). In the first seven months of this year, the chipmaker’s revenue surged 33.6 percent to NT$727.26 billion, compared with NT$544.46 billion a year earlier. TSMC has said it aims to grow its revenue by more than 20 percent this year. The company has since May 15 stopped taking new orders from Huawei Technologies Co (華為), its second-biggest customer after Apple Inc, due to the US’ restrictions on exports containing US technologies. TSMC has no plans to