Stocks dropped yesterday. Taiwan Semiconductor Manufacturing Co (TSMC,
"Investors must keep an eye on the mortgage problems, because that can derail US consumer demand for Asian exports," said Vickie Hsieh, who helps oversees US$1.4 billion at President Investment Trust Corp in Taipei.
"Taiwan's electronics exporters will suffer because they depend on US customers," she said.
Fubon Financial Holding Co (
The TAIEX fell 116.09, or 1.3 percent, to close at 8,941.73 in Taipei. About three stocks declined for every one that gained. Futures due this month dropped 1.4 percent to 8,860.
TSMC, which makes about three-quarters of its sales from US buyers, dropped NT$1.30, or 2 percent, to NT$62.60.
Mediatek In (
The Standard & Poor's 500 Index had its biggest three-week loss since 2003. Standard & Poor's cut the credit outlook of Bear Stearns Co, the manager of two hedge funds that collapsed last month.
The government said US employers added fewer jobs last month and a private report showed growth in the service industries slowed. The US is Taiwan's second-largest export market.
Fubon Financial fell NT$0.65, or 2.2 percent, to NT$28.55. The Taiwan High Court rejected a district court ruling to release Chiang on bail and the Taipei District Court made a new decision to detain Chiang again late on Friday.
Chiang denied any wrongdoing, the high court said in a statement on Friday.
Ta Chong Bank Ltd (大眾銀行). declined NT$0.15, or 1.4 percent, to NT$10.85. The Financial Supervisory Commission is investigating the bank's lending and savings operations, the Chinese-language Apple Daily reported, citing the lender's spokesman James Chiou (邱正光).
Three experts in the high technology industry have said that US President Donald Trump’s pledge to impose higher tariffs on Taiwanese semiconductors is part of an effort to force Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to the negotiating table. In a speech to Republicans on Jan. 27, Trump said he intends to impose tariffs on Taiwan to bring chip production to the US. “The incentive is going to be they’re not going to want to pay a 25, 50 or even a 100 percent tax,” he said. Darson Chiu (邱達生), an economics professor at Taichung-based Tunghai University and director-general of
Hon Hai Precision Industry Co (鴻海精密) is reportedly making another pass at Nissan Motor Co, as the Japanese automaker's tie-up with Honda Motor Co falls apart. Nissan shares rose as much as 6 percent after Taiwan’s Central News Agency reported that Hon Hai chairman Young Liu (劉揚偉) instructed former Nissan executive Jun Seki to connect with French carmaker Renault SA, which holds about 36 percent of Nissan’s stock. Hon Hai, the Taiwanese iPhone-maker also known as Foxconn Technology Group (富士康科技集團), was exploring an investment or buyout of Nissan last year, but backed off in December after the Japanese carmaker penned a deal
WASHINGTON POLICY: Tariffs of 10 percent or more and other new costs are tipped to hit shipments of small parcels, cutting export growth by 1.3 percentage points The decision by US President Donald Trump to ban Chinese companies from using a US tariff loophole would hit tens of billions of dollars of trade and reduce China’s economic growth this year, according to new estimates by economists at Nomura Holdings Inc. According to Nomura’s estimates, last year companies such as Shein (希音) and PDD Holdings Inc’s (拼多多控股) Temu shipped US$46 billion of small parcels to the US to take advantage of the rule that allows items with a declared value under US$800 to enter the US tariff-free. Tariffs of 10 percent or more and other new costs would slash such
SENSOR BUSINESS: The Taiwanese company said that a public tender offer would begin on May 7 through its wholly owned subsidiary Yageo Electronics Japan Yageo Corp (國巨), one of the world’s top three suppliers of passive components, yesterday said it is to launch a tender offer to fully acquire Japan’s Shibaura Electronics Co for up to ¥65.57 billion (US$429.37 million), with an aim to expand its sensor business. The tender offer would be a crucial step for the company to expand its sensor business, Yageo said. Shibaura Electronics is the world’s largest supplier of thermistors, with a market share of 13 percent, research conducted in 2022 by the Japanese firm showed. If a deal goes ahead, it would be the second acquisition of a sensor business since