Stocks fell, led by Nan Ya Plastic Corp (
TAIEX slid 41.46, or 1 percent, to 4,286.94, its lowest since Nov. 14. Nan Ya Plastic fell NT$1.90, or 6.8 percent, to NT$26.20. Formosa Plastics dropped NT$2.30, or 6.9 percent, to NT$31.30.
Foreign institutional investors hold a 17 percent stake in Nan Ya and 25 percent of Formosa Plastics. The plastics makers were among the top five net sold stocks by foreign investors yesterday.
"Leave alone companies with high foreign investor stakes -- that's what investors are thinking," said Lin Kuan-ho, who manages NT$1.7 billion (US$49 million) in stocks at First Global Investment Trust Co (
Crude oil for November delivery rose as much as US$0.30, or 1 percent, to US$31.01 a barrel in after-hours electronic trading on the New York Mercantile Exchange.
More than three stocks fell for every one that rose. The total value of trade was NT$48.1 billion.
Asustek Computer (
International Commercial Bank of China (中國商銀) rose NT$1.10, or 6.8 percent, to NT$17.40. CTB Financial Holding Co (交銀金控), which is combining with the bank to form Taiwan's biggest publicly traded bank by assets, said it will pay one of its own shares for every 0.878 International Commercial share.
Lead Data Inc (
Wan Hai Lines (萬海航運) rose NT$1.40, or 6.9 percent, to NT$21.80 after Premier Yu Shyi-kun said the country will complete technical plans in November to establish direct trade and transport links with China.
HannStar Display Corp (瀚宇 彩晶) fell NT$0.20, or 1.7 percent, to NT$11.70. The flat-panel displays maker reduced the price of a planned sale of 500 million shares to NT$11.75 a share, from NT$19 a share, after its share price plunged.
Mosel Vitelic (茂矽) fell NT$0.55, or 6.9 percent, to NT$7.45 on concern it won't be able to pay debts due next year. The memory chipmaker yesterday said it had enough cash to pay NT$5.5 billion in bonds that will come due next year.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
‘NO DISRUPTION’: A US trade association said that it was ready to work with the US administration to streamline the program’s requirements and achieve shared goals The White House is seeking to renegotiate US CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told reporters. The people, along with a third source, said that the new US administration is reviewing the projects awarded under the 2022 law, meant to boost US domestic semiconductor output with US$39 billion in subsidies. Washington plans to renegotiate some of the deals after assessing and changing current requirements, the sources said. The extent of the possible changes and how they would affect agreements already finalized was not immediately clear. It was not known
US President Donald Trump has threatened to impose up to 100 percent tariffs on Taiwan’s semiconductor exports to the US to encourage chip manufacturers to move their production facilities to the US, but experts are questioning his strategy, warning it could harm industries on both sides. “I’m very confused and surprised that the Trump administration would try and do this,” Bob O’Donnell, chief analyst and founder of TECHnalysis Research in California, said in an interview with the Central News Agency on Wednesday. “It seems to reflect the fact that they don’t understand how the semiconductor industry really works,” O’Donnell said. Economic sanctions would