TAIEX closes lower
The TAIEX closed below the nearest technical support level of 7,600 points yesterday amid fresh concerns over a pending “fiscal cliff” in Washington after talks on resolving the difficulties stalled, dealers said.
Selling focused on large-cap stocks in both the high-tech and old economy sectors, as investors rushed to take profits from recent gains, the dealers said.
The weighted index closed down 82.01 points, or 1.07 percent, at 7,595.46, on turnover of NT$77.95 billion (US$2.68 billion).
Taiwan Mobile launches app
Taiwan Mobile Co (台灣大哥大) released a new version of its messaging service app yesterday to challenge products such as WhatsApp of the US and Line of South Korea.
Taiwan Mobile’s “M+ Messenger” was launched in August and hit the 1 million download mark within three weeks, ranking it as the top free app in App Store and Google Play, the carrier said.
The service now has 2 million users, a number expected to exceed 4 million before the Lunar New Year holiday in February, said Jeff Ku (谷元宏), deputy chief operating officer of Taiwan Mobile’s consumer business group.
Kinpo subsidiaries open plants
Two Philippines-based subsidiaries of Taiwan’s electronics conglomerate Kinpo Group (金仁寶集團) inaugurated new factories in a Philippine industrial park south of Manila on Wednesday.
AcBel Polytech Inc (康舒科技), a maker of LED lighting and smart grid solutions, and Cal-Comp Electronics and Communications Co (泰金寶), which produces handsets, printers and LCD TVs, opened the plants in the Carmelray industrial park in Calamba, Laguna Province, according to Kinpo.
DRAM expenditure set to fall
Capital expenditure of the global DRAM chip sector for next year is expected to fall by an annual 21 percent, reflecting weak PC demand, DRAMexchange said in a research report yesterday.
In the first half of this month, DRAM contract prices rebounded from the second half of last month, ending a five-month falling streak, DRAMexchange said. Prices for benchmark DDR3 2-gigabit DRAM chips rose 1.25 percent to US$0.81, it said.
MediaTek appoints Lodenius
MediaTek Inc (聯發科), the nation’s biggest handset chipmaker, said yesterday it had named Johan Lodenius as the company’s corporate vice president and chief marketing officer.
An industry veteran, Lodenius worked for Ericsson AB and Qualcomm Inc before founding several new technology companies including Coresonic AB, a global leader of digital signal processor technology, which MediaTek acquired for US$35 million earlier this year.
Lin to retain Neo Solar post
Solar cell maker Neo Solar Power Corp (新日光能源) said yesterday Quincy Lin (林坤禧) would retain his chairmanship following successful completion of the company’s first-stage tender offer in acquiring a 15 percent stake of DelSolar Co (旺能光電) on Wednesday.
Lin will also serve as the company’s chief strategy officer, Neo Solar said. The company also named Sam Hong (洪傳獻) as chief executive officer and Andy Shen (沈維鈞) as president, it said.
The boards at Neo Solar and DelSolar agreed to proceed with the second-stage merger via a 100 percent share swap, with each DelSolar share to be exchanged for 0.735 Neo Solar shares. Neo Solar will be the surviving entity.
NT dollar loses ground
The New Taiwan dollar lost ground against the US dollar yesterday, declining NT$0.018 to close at NT$29.120. Turnover was about US$714 million.