The TAIEX gained for a fourth day yesterday. Taiwan Semiconductor Manufacturing Co (TSMC,
The TAIEX added 5.38, or 0.1 percent, to 6,605.85, for a four-day gain of 2.6 percent. About the same number of stocks gained and declined. Taiex Futures for February delivery were unchanged at 6,615.
About 8.7 billion shares changed hands, 89 percent above the average daily trading in the past three months.
TSMC rose NT$0.50, or 0.8 percent, to NT$63. The company's board yesterday approved a NT$2 dividend for last year in the form of cash and shares. TSMC plans to offer a stock dividend of NT$1.40 plus a cash dividend of NT$0.60 a share, compared with the NT$0.80 stock dividend the company paid for 2002 profit.
Tainan Business Bank (台南企銀), a Tainan-based regional lender, gained NT$0.85, or 6.6 percent, to NT$13.70. It may invite six banks to buy each other's shares to help block a takeover attempt by King's Town Construction Co (京城建設), a Chinese-language newspaper reported, citing people it didn't identify at Tainan Business.
The bank said it's unaware of a potential takeover attempt by the owner of King's Town.
"Financial industry consolidation is expected to push many financial stocks higher this year," said Tracy Chen, who oversees US$73 million at Prudential Securities Investment (保誠投信).
King's Town, which develops property in the south, rose NT$3.50, or 6.1 percent, to NT$60.50.
China Development Financial Holding Corp (中華開發金控) gained NT$0.70, or 3.9 percent, to end at NT$18.90.
Chinatrust Financial Holding Co (中信金控) said earlier this month its affiliated companies such as China Life Insurance Co (中國人壽) and KGI Securities Co (中信證券) may buy China Development.
China Life Insurance said it does not rule out the possibility of buying more shares of China Development Financial, the paper reported eysterday. KGI Securities gained NT$1, or 6 percent, to NT$17.60. China Life rose NT$0.60, or 2.6 percent, to NT$24.
President Chain Store Corp (統一超商) gained NT$4, or 6.2 percent, to NT$69 after saying it plans to set up a drugstore venture in Shenzhen with the first store to open in the second quarter.
President Chain expects to control at least 65 percent of the 50 million yuan (US$6 million) ven-ture, with Guandong-based Livzon Pharmaceutical Group taking the rest, its chief financial officer Fred Chen said (陳福唐).
SETBACK: Apple’s India iPhone push has been disrupted after Foxconn recalled hundreds of Chinese engineers, amid Beijing’s attempts to curb tech transfers Apple Inc assembly partner Hon Hai Precision Industry Co (鴻海精密), also known internationally as Foxconn Technology Group (富士康科技集團), has recalled about 300 Chinese engineers from a factory in India, the latest setback for the iPhone maker’s push to rapidly expand in the country. The extraction of Chinese workers from the factory of Yuzhan Technology (India) Private Ltd, a Hon Hai component unit, in southern Tamil Nadu state, is the second such move in a few months. The company has started flying in Taiwanese engineers to replace staff leaving, people familiar with the matter said, asking not to be named, as the
The prices of gasoline and diesel at domestic fuel stations are to rise NT$0.1 and NT$0.4 per liter this week respectively, after international crude oil prices rose last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$27.3, NT$28.8 and NT$30.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to rise to NT$26.2 per liter at CPC stations and NT$26 at Formosa pumps, they said. The announcements came after international crude oil prices
STABLE DEMAND: Delta supplies US clients in the aerospace, defense and machinery segments, and expects second-half sales to be similar to the first half Delta Electronics Inc (台達電) expects its US automation business to remain steady in the second half, with no signs of weakening client demand. With demand from US clients remaining solid, its performance in the second half is expected to be similar to that of the first half, Andy Liu (劉佳容), general manager of the company’s industrial automation business group, said on the sidelines of the Taiwan Automation Intelligence and Robot Show in Taipei on Wednesday. The company earlier reported that revenue from its automation business grew 7 percent year-on-year to NT$27.22 billion (US$889.98 million) in the first half, accounting for 11 percent
A German company is putting used electric vehicle batteries to new use by stacking them into fridge-size units that homes and businesses can use to store their excess solar and wind energy. This week, the company Voltfang — which means “catching volts” — opened its first industrial site in Aachen, Germany, near the Belgian and Dutch borders. With about 100 staff, Voltfang says it is the biggest facility of its kind in Europe in the budding sector of refurbishing lithium-ion batteries. Its CEO David Oudsandji hopes it would help Europe’s biggest economy ween itself off fossil fuels and increasingly rely on climate-friendly renewables. While
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