Futures trading impacts TAIEX
The TAIEX closed lower yesterday, below the 7,800-point mark, as investors cut their holdings in the spot market in a bid to profit in the futures market, where they raised short-positions, dealers said.
Selling focused on large-cap electronics stocks, such as Taiwan Semiconductor Manufacturing Co (台積電) and Hon Hai Precision Industry Co (鴻海), while the financial sector remained resilient on hopes that Taiwan and China would increase cross-strait financial exchanges, they said.
The weighted index closed down 40.44 points, or 0.52 percent, at 7,798.03 on turnover of NT$73.68 billion (US$2.47 billion).
TSMC shares closed down 1.20 percent at NT$98.80, while Hon Hai lost 1.32 percent to close at NT$82.10.
Raise electricity prices: ECCT
Taiwan should consider increasing electricity prices as part of energy-saving efforts, the European Chamber of Commerce Taiwan (ECCT) said yesterday.
“We support the idea of raising electricity prices because it would make people more aware of saving energy,” ECCT chief executive Freddie Hoeglund said at a luncheon with journalists.
He suggested that local companies replace outdated plants and equipment or adopt new manufacturing technologies, which he said could help improve energy efficiency.
HTC loses German court battle
HTC Corp (宏達電) lost a German lawsuit after a court said it violated Nokia Oyj patents for technology that helps save battery life on mobile phones.
The Mannheim court on Tuesday ruled that HTC infringed the German part of Nokia’s European patent. Taoyuan-based HTC said that the patent is invalid and it would appeal the decision.
“This decision cannot be described as a ‘win’ for Nokia because it only applies to handsets that are no longer imported into Germany, and newer HTC handsets do not use the accused technology,” HTC said. “As Nokia clearly went to great lengths to assert its strongest patents first, we are confident that its non-essential patent portfolio poses little threat to HTC.”
Ministry mulling AIDC sale
The Ministry of Economic Affairs is considering privatizing aircraft maker Aerospace Industrial Development Corporation (AIDC, 漢翔航空) as part of a government drive to offload large state-owned assets.
Minister of Economic Affairs Chang Chia-juch (張家祝) told the legislature on Monday that he would agree to a plan submitted by the firm to sell at least half the government’s 100 percent stake.
While no timeline has been set, Wu Fong-sheng (吳豐盛), a ministry official in charge of the sale, said he expects the company to be listed on the stock exchange next year.
AIDC reported NT$1.25 billion (US$42.1 million) in net profits last year, up from NT$1.12 billion the previous year.
Wistron unveils new products
Software developer Wistron Information Technology & Services Corp (WITSC, 緯創軟體) on Tuesday unveiled two new cloud-computing services developed by Japanese software makers TIS Inc and Qualica Inc.
The two products are “Easy e-Test,” an online school assignment and exam platform, and “TastyQube,” an inventory management system designed for chain stores.
Wistron Information is a subsidiary of Wistron Corp (緯創), the world’s third-biggest contract notebook maker.
New Taiwan dollar weakens
The New Taiwan dollar fell against its US counterpart yesterday, declining NT$0.044 to close at NT$29.845.
Turnover totaled US$911 million during the trading session.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and