■ TAIEX edges down 0.4 percent
Shares fell yesterday as investors exhibited caution ahead of local elections over the weekend. The TAIEX dropped 23.65 points, or 0.4 percent, to 6,179.82, on turnover of NT$80.47 billion (US$2.39 billion). The New Taiwan dollar slid NT$0.047 to close at NT$33.563 against its US counterpart on the Taipei foreign exchange market. Lower steel prices in the face of oversupply also played a part in yesterday's stock market drop, traders said. China Steel Corp (中鋼), the nation's largest steel producer by revenue, led decliners and was the heaviest traded stock on the mainboard. China Steel's shares fell 3 percent to close at NT$24.35.
■ Ya Hsin to borrow US$97M
Ya Hsin Industrial Co (雅新), the world's third biggest printed circuit board manufacturer, is borrowing US$97 million to expand production in Suzhou, China. Ya Hsin hired Japan's Mizuho Corporate Bank's Taiwanese subsidiary, to arrange the loan, which will be marketed mainly to Chinese lenders, bankers involved in the deal said. The five-year revolving credit will be signed today in Suzhou, the bankers said.
■ Nokia expanding in China
Finnish mobile telephone giant Nokia Oyj will increase its production of mobile telephones in China to meet growing demand, the company said yesterday. The expansion was aimed at providing "more capacity and flexibility to meet the growing market demand worldwide, especially China and Asia," Nokia said. The production will be located at Nokia's facility in Dongguan, China. The expansion will begin during third quarter 2006.
PERSISTENT RUMORS: Nvidia’s CEO said the firm is not in talks to sell AI chips to China, but he would welcome a change in US policy barring the activity Nvidia Corp CEO Jensen Huang (黃仁勳) said his company is not in discussions to sell its Blackwell artificial intelligence (AI) chips to Chinese firms, waving off speculation it is trying to engineer a return to the world’s largest semiconductor market. Huang, who arrived in Taiwan yesterday ahead of meetings with longtime partner Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), took the opportunity to clarify recent comments about the US-China AI race. The Nvidia head caused a stir in an interview this week with the Financial Times, in which he was quoted as saying “China will win” the AI race. Huang yesterday said
Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ￥97 billion (US$630 million) to a group sponsored by Taiwanese autoparts maker Minth Group (敏實集團), as the struggling automaker seeks to shore up its financial position. The acquisition is led by a special purchase company managed by KJR Management Ltd, a Japanese real-estate unit of private equity giant KKR & Co, people familiar with the matter said. KJR said it would act as asset manager together with Mizuho Real Estate Management Co. Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples
The Chinese government has issued guidance requiring new data center projects that have received any state funds to only use domestically made artificial intelligence (AI) chips, two sources familiar with the matter told Reuters. In recent weeks, Chinese regulatory authorities have ordered such data centers that are less than 30 percent complete to remove all installed foreign chips, or cancel plans to purchase them, while projects in a more advanced stage would be decided on a case-by-case basis, the sources said. The move could represent one of China’s most aggressive steps yet to eliminate foreign technology from its critical infrastructure amid a
MORE WEIGHT: The national weighting was raised in one index while holding steady in two others, while several companies rose or fell in prominence MSCI Inc, a global index provider, has raised Taiwan’s weighting in one of its major indices and left the country’s weighting unchanged in two other indices after a regular index review. In a statement released on Thursday, MSCI said it has upgraded Taiwan’s weighting in the MSCI All-Country World Index by 0.02 percentage points to 2.25 percent, while maintaining the weighting in the MSCI Emerging Markets Index, the most closely watched by foreign institutional investors, at 20.46 percent. Additionally, the index provider has left Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index unchanged at 23.15 percent. The latest index adjustments are to
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