Stocks fell yesterday, led by Hon Hai Precision Industry Co (
The TAIEX shed 9.53, or 0.2 percent, to 5,759.23. The Taiwan futures index rose 0.4 percent to 5,800.
Decliners beat risers 433 to 283, while 212 counters ended the session unchanged. Trading volume was valued at NT$56.72 billion (US$1.66 billion), the smallest since Dec. 8's NT$47.8 billion (US$1.39 billion).
"Certain fund managers are still locking in profits for year-end window-dressing," Grand Cathay Securities Corp (
"The muted trade showed that investors prefer to stay on the sidelines ahead of the parliament's review of referendum rules," Tu said.
Although the the 44-year-old medical researcher who contracted SARS is likely to be an isolated case, investors worry that the patient may have transmitted the flu-like virus to others.
"The fear of SARS is still lingering," said Fam Hsieh, a fund manager at Grand Cathay Securities Trust Co (
"It might take few more days before investors will believe the deadly disease didn't spread," Hsieh said.
Hon Hai Precision, the nation's largest electronics manufacturer, fell NT$2.50, or 1.9 percent, to NT$132. Yulon Motor, one of the country's top three carmakers, fell NT$0.20, or 0.5 percent, to NT$41.80.
Asustek Computer Inc (
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees