TAIEX sees little movement
The TAIEX closed little changed yesterday after a seesaw trading session in which the market was unable to break through technical resistance ahead of the 8,000-point mark, dealers said.
Investors were cautious about the repeated highs reached on Wall Street recently, fearful of a major pullback that could rock financial markets around the world, including in Taiwan, they added.
The weighted index closed up 0.80 points, or 0.01 percent, at 7,995.51 after moving between 7,962.42 and 8,047.56, on turnover of NT$81.23 billion (US$2.74 billion).
US company to establish lab
The Ministry of Economic Affairs (MOEA) yesterday said the US-based Applied Material Inc plans to establish a research and development laboratory in Taiwan this year, which would generate an estimated NT$100 billion in sales for local display manufacturers.
The US company plans to use the lab, located in the Tainan Science Park, to develop technologies that will be used in the making of larger panels and touch-screen displays as well as in the production of advanced chemical vapor deposition and physical vapor deposition manufacturing equipment, the ministry said.
Applied Materials is the world’s largest display and semiconductor equipment manufacturer.
Hiring outlook robust: survey
The hiring outlook in Taiwan for the second quarter of this year is robust amid a global economic recovery, with 37 percent of Taiwanese companies saying they plan to increase their workforce over the next three months, according to a survey released on Tuesday.
In the survey by ManpowerGroup, 58 percent of the 1,031 Taiwanese employers polled said they have no plans to adjust their workforce, while 4 percent said they may cut staff. Taiwan has the highest employment outlook worldwide in 42 countries, ahead of Brazil and Turkey, ManpowerGroup said.
Everlight forecasts rising sales
Everlight Electronics Co (億光), the nation’s top LED chip packager, has forecast rising sales this quarter from last year, after sales in the first two months increased 15.86 percent to NT$3.1 billion from a year earlier.
The company said on Monday the increase was due to more orders from new customers and because of rising awareness of energy conservation globally.
Epistar Corp (晶電), one of the nation’s top LED chipmakers, reported sales increased by 3.89 percent year-on-year to NT$2.61 billion in the first two months, while smaller LED chipmaker Unity Opto Technology Co (東貝) said accumulated sales grew 57.55 percent to NT$1.01 billion over the same period.
Shin Kong application approved
The Ministry of Economic Affairs (MOEA) has approved Shin Kong Mitsukoshi Department Store Co’s (新光三越百貨) application to invest US$112 million in China to open department stores there, the Investment Commission said in a statement.
Shin Kong Mitsukoshi has proposed setting up a subsidiary in China that would be tasked with opening three department store stores in the second-tier cities of Chongqing, Chengdu and Suzhou, the commission said on Tuesday.
Makalot reports pretax profit
Makalot Industrial Co Ltd (聚陽實業), a supplier for global fashion brands such as H&M and Zara, yesterday reported its pretax profit increased 1.44 percent year-on-year to NT$256.97 million (US$8.66 million) in the period from January to last month.
Makalot said it is expecting headwinds as the company’s costs has risen recently.