Financial sector boosts TAIEX
The TAIEX yesterday closed slightly higher on gains by financial and electronics stocks. The index closed up 37.76 points, or 0.48 percent, at 7,894.12. Turnover was NT$66.5 billion (US$2.23 billion).
TSMC unaffected by quake
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said its facilities, water and power distribution systems were not affected by the earthquake in Nantou County and that the quake would not impact its output.
Evacuations at TSMC were triggered by emergency response mechanisms. One plant in Hsinchu and another in Taichung were evacuated, while a plant in Tainan remained operating.
Most local electronics companies, including Innolux Corp (群創光電) and Hon Hai Precison Industry Co Ltd (鴻海精密), said their operations were not affected by the quake.
Operations at the Central Taiwan Science Park were normal, but further checks were being conducted, a spokesman said.
China smartphone boom likely
Global smartphone shipments from China this year are forecast to grow by 40 percent year-on-year on stronger demand, a local market research firm said on Monday.
In a research note, Digitimes Research forecast that a total of 304 million smartphones would be shipped from China, up 39.3 percent from last year. That was in line with an earlier forecast by the Taiwan Industrial Economics and Knowledge Research Center (產業經濟與趨勢研究中心).
With dramatic price cuts and better quality white box smartphones — unbranded phones that clone more popular models — the smartphone market will continue to expand substantially, the research center said in a report.
Huawei Technologies Co (華為) smartphone shipments are expected to top the list with 4 million units or more, taking 13.8 percent of the Chinese market, Digitimes said.
ZTE Corp (中興) is expected to retain second place with a 12.1 percent market share, followed closely by Lenovo Group with 11.4 percent, Digitimes said.
Ministry rejects Sharp claim
The Ministry of Economic Affairs yesterday denied that Taiwanese regulatory hurdles were the cause of the passing of a deadline for Hon Hai Precision Industry Co (鴻海精密) to buy a stake in Japan’s Sharp Corp.
Sharp said that a capital injection from Hon Hai was no longer on the table, blaming Taiwanese regulatory authorities.
Minister of Economic Affairs Chang Chia-juch (張家祝) said that the cause cited by Sharp was not true and Hon Hai had not completed the pre-deal process.
Hon Hai on Tuesday said it remains committed to buying a 9.9 percent stake in Sharp, which would make it the firm’s biggest shareholder.
Asustek to pay NT$19 dividend
Asustek Computer Inc (華碩), the world’s fifth-largest PC brand, yesterday said it plans to distribute a NT$19 cash dividend per common share this year on earnings made last year.
The total dividend to be distributed this year is NT$14.3 billion (US$478.41 million), representing a dividend yield of 5.29 percent.
Asustek board members yesterday also passed a resolution allowing the company to pay NT$971.37 million in cash bonuses to employees and NT$194.27 million in compensation to the company’s management this year, a filing submitted to the Taiwan Stock Exchange said.
NT dollar edges lower
The New Taiwan Dollar fell NT$0.05 against its US counterpart to close at NT$29.941 yesterday. Turnover was U$799 million.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion