TAIEX slides on retreat
Shares closed 1.43 percent lower yesterday on the back of the retreat in major regional markets during morning trade, dealers said.
The TAIEX closed down 114.68 points at 7,888.63, on turnover of NT$108.29 billion (US$3.28 billion).
The New Taiwan dollar rose NT$0.023 to close at NT$33.136 against the US dollar, on turnover of US$1.46 billion.
TTV shares to go on sale soon
The government is scheduled to start offering shares of the Taiwan Television Enterprise (TTV, 台視) to the public at NT$12 per share, starting from May 15 to June 22.
There will be more than 54 million shares, or a 19.46 stake in TTV, offered to the general public, Liu Chen-lo (劉振樂), vice president of Taiwan Cooperative Bank (合作金庫銀行), said yesterday.
The government will also offer 2.16 percent of TTV shares at NT$10.8 per share to TTV employees as stock options, Liu said.
The share sale is expected to be completed by the end of August, he added.
Investors eye China United
The Financial Supervisory Commission is mulling halting the government's takeover of China United Trust and Investment Corp (中聯信託) as a foreign investor is offering to plow over NT$10 billion (US$302 million) into the debt-ridden lender.
A foreign asset management firm has expressed its long-term investment interest in China United, commission Chairperson Susan Chang (張秀蓮) said yesterday.
The company plans to explore more investment opportunities in the local market if the acquisition is successful, Chang said.
From India to China to the US, automakers cannot make vehicles — not that no one wants any, but because a more than US$450 billion industry for semiconductors got blindsided. How did both sides end up here? Over the past two weeks, automakers across the world have bemoaned the shortage of chips. Germany’s Audi, owned by Volkswagen AG, would delay making some of its high-end vehicles because of what chief executive officer Markus Duesmann called a “massive” shortfall in an interview with the Financial Times. The firm has furloughed more than 10,000 workers and reined in production. That is a further blow
Answering to a reported request by Germany to help address a chip shortage in its auto industry, the Ministry of Economic Affairs (MOEA) yesterday said that it was in talks with domestic chip suppliers. Foreign media over the weekend reported that German Minister of Economic Affairs Peter Altmaier had sent a request to Taipei to ask Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to cooperate more closely with German automakers to provide microchips and sensors, to bridge a shortage that has emerged over the past few months. The MOEA said that it had not yet received the request and could therefore not elaborate
FOCUS ON FOUNDRIES: An analyst said that some investors would be disappointed because they were expecting a larger announcement of a partnership with TSMC Intel Corp’s incoming chief executive officer Pat Gelsinger on Thursday pledged to regain the company’s lead in chip manufacturing, countering growing calls from some investors to shed that part of its business. “I am confident that the majority of our 2023 products will be manufactured internally,” Gelsinger said. “At the same time, given the breadth of our portfolio, it’s likely that we will expand our use of external foundries for certain technologies and products.” He plans to provide more details after officially taking over the CEO role on Feb. 15, but Gelsinger was clear that Intel is sticking with its once mighty
AWARENESS NEEDED: The central bank urged lenders to know their customers before undertaking business for them and to seek funding in conventional ways The central bank yesterday said that it would take action against four foreign lenders for their involvement in helping companies trade in the deliverable forward market in contravention of foreign-exchange regulations. Some grain merchants newly based in Taiwan have since July 2019 been practicing questionable currency-trading activity, with the help of branches and subsidiaries of six foreign banks, the monetary policymaker told an unscheduled news conference. Affiliated firms as of July last year completed currency-related deals they referred to as trading that totaled US$11 billion, which was not in sync with their real business needs, the central bank said after wrapping up