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He suggested that local companies replace outdated plants and equipment or adopt new manufacturing technologies, which he said could help improve energy efficiency.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.