TAIEX down 0.49%
The TAIEX closed down in quiet trade yesterday as uncertainty loomed over US spending cuts and general elections in Italy, offsetting positive sentiment from the electronics sector, dealers said.
The weighted index closed down 39.21 points, or 0.49 percent, to 7947.68.
With uncertainty over market conditions, trading activity remained light throughout the session. Volume was 3.3 billion shares, compared with the 4.3 billion shares traded on Wednesday, when the index broke the 8,000 point mark.
Turnvoer reached NT$72.38 billion (US$2.44 billion) yesterday.
28-nanometer HPM to be used
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said US handset chip supplier Qualcomm Inc’s wholly owned subsidiary, Qualcomm Technologies Inc, will be the first company to produce working silicon on its 28-nanometer high performance mobile (HPM) process technology. Qualcomm is one of biggest clients of TSMC, the world’s biggest contract chipmaker.
TSMC’s 28-nanometer HPM is the first production process that can support 2GHz+ application processors with low power consumption. The process is suited for tablets and high-end smartphone applications.
Fire disrupts Internet service
Chief Telecom Inc (是方電訊), an Internet service provider, yesterday said several hundred of its customers, mostly corporate clients, were affected by a fire at a data center in Taipei’s Neihu District (內湖) that disrupted power and caused unstable Internet access.
The company expected to resume normal operations at midnight yesterday after investigators from the fire department completed a thorough inspection.
Chief Telecom is a subsidiary of the nation’s biggest telecoms operator, Chunghwa Telecom Inc (中華電信).
Textile output down 9%
The total output of the nation’s textile industry last year decreased to NT$455 billion, down 9 percent from NT$500 billion of a year ago, according to Taiwan Textile Research Institute (TTRI, 紡織所).
Output of synthetic fibers last year dropped 11.6 percent to NT$144 billion last year from NT$162.9 billion a year ago, which was the most significant drop. Garment output declined 8.9 percent to NT$23 billion for last year from NT$25.24 billion in the previous year. TTRI said the decline last year was caused by the gloomy global economic condition and competition from emerging markets.
Lee Sush-der helms TWSE
Former Minister of Finance Lee Sush-der (李述德) yesterday took over the chairmanship of Taiwan Stock Exchange Corp (TWSE, 台灣證交所), pledging to make local bourses more vigorous, transparent and accountable.
Lee filled the vacancy left by Schive Chi (薛琦), who now serves as minister without portfolio following the recent Cabinet reshuffle.
Lee, 61, has a master’s degree in business management and is known for implementing a special sales levy in June 2011 to cool the housing property market.
NT dollar weakens
The New Taiwan dollar weakened 0.2 percent, or NT$0.044, to NT$29.702 to the US dollar, according to prices from Taipei Forex Inc. It has lost 1.9 percent in the past three months, the second-worst performer in Asia after the yen.
Turnover was US$885 million.
“The Taiwan dollar will continue to weaken in line with the yen’s decline,” Taipei-based Union Bank of Taiwan (聯邦銀行) foreign-exchange trader Tarsicio Tong (湯健揚) said. “The pace of depreciation should be steady, as it’s countered by stock inflows.”