Taiwan stocks fell for a fourth day, with United Microelectronics Corp (UMC,
"The government's strategy is to sell its stake in the US to avoid putting pressure on the local market," said Jerry Chen (
The TAIEX fell 119.05, or 2 percent, to 5951.45, its biggest percentage decline since Feb. 20. For the week, the index fell 1 percent. Within the index, 395 stocks fell and 116 rose.
The total value of trade was NT$119 billion (US$3.4 billion), more than a tenth above the six-month daily average of NT$105 billion.
UMC fell NT$2.70, or 5.2 percent, to NT$49.30 after the government sold 1.8 percent of the company for US$440 million through the sale of American depositary receipts.
Meanwhile, the second-largest made-to-order chipmaker declared a stock dividend of 150 shares for every 1,000 held, and said it would issue 171 million new shares for employee bonuses.
UMC's US-traded shares dropped 5.1 percent to US$9.25, their biggest drop since Feb. 19.
Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電), UMC's largest rival, fell NT$2.50, or 2.7 percent, to NT$90.50.
Computer-memory-chip makers fell after the price of 128MB dynamic random access memory chips and high-speed memory chips fell for a third day Thursday, according to DRAM Exchan-ge, a marketplace for memory chips.
Winbond Electronics Corp (
Asustek Computer Inc (華碩電腦), Taiwan's largest motherboard maker, fell NT$3, or 1.8 percent, to NT$160 on concern personal computer makers will delay placing orders until after Intel Corp cuts the prices of chips that run PCs. On Thursday, Credit Suisse First Boston said PC sales will be weaker than expected.
Lite-On Technology Corp (
Lite-On Information Technology fell NT$1, or 0.5 percent, to NT$214.
Via Technologies Inc (
The second-largest designer of personal-computer chipsets plans to develop new graphics chips with Europe's STMicroelectronics NV as the two compete for orders for graphics chipsets for Microsoft Corp's Xbox video-game consoles, local media reported.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
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