Taiwan shares close up
Taiwan share prices closed 2.03 percent higher yesterday after the last session before the long Lunar New Year trading break, dealers said.
The TAIEX closed up 152.86 points at 7,673.99, having traded in a range of 7,583.65 to 7,706.03, on turnover of NT$123.10 billion (US$3.85 billion).
Risers led decliners 1,485 to 418, while 376 stocks remained unchanged.
Alex Huang (
"Thanks to the upswing in the local currency following the US Fed's aggressive cuts in interest rates, investors were willing to raise their equity portfolios in anticipation of capital inflows to the island," Huang said.
Lunar New Year is the time when companies pay annual bonuses to staff, so the Taipei bourse could attract buyers when traders return to work on Feb. 12, he said.
UPS announces extended hours
United Parcel Service (UPS) announced an extension of its service hours on Monday and Tuesday to provide delivery for customers who are struggling to cope with tight shipping deadlines ahead of the coming Lunar New Year festivities.
All of its service centers across the country will extend services by one to two hours on these two days.
In addition, UPS also introduces a new shipping packaging combination this year to guarantee the same express courier service for heavy packages with small parcels.
Customers can also make appointments before noon on Tuesday to get their parcels on the following day, which is Lunar New Year's Eve.
Macronix reports big profits
Macronix International Co (
The Hsinchu-based firm, which produces so-called ROM products and NOR flash memory chips for clients, said last year's profits were up 128.81 percent from 2006, when the company reported NT$2.03 billion profits, or NT$0.7 a share.
Profit in the fourth quarter reached NT$1.24 billion, a five-year high for the same quarter during the last five years, the company said. Earnings per share were NT$0.41 in the three months ended December, down from NT$0.69 in the previous quarter and NT$0.46 a year earlier, the company said in a statement.
For the first-quarter outlook, president Lu Chih-yuan (
Taiwan drawn into EU probe
The EU's threat of tariffs on steel from China has been extended to Taiwan and South Korea, with a new probe into cheap imports that compete against EU producers including ThyssenKrupp AG.
The inquiry is into whether Chinese, Taiwanese and Korean exporters sell stainless steel in the 27-nation EU below cost, a practice known as dumping. It covers 2.1 billion euros (US$3.1 billion) in imports of cold-rolled flat products, used in everything from tanks to boilers and kitchen equipment.
The commission has nine months to decide whether to impose provisional anti-dumping duties for half a year and EU governments have 15 months to choose whether to apply "definitive" levies for five years.
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
An Indian factory producing iPhone components resumed work yesterday after a fire that halted production — the third blaze to disrupt Apple Inc’s local supply chain since the start of last year. Local industrial behemoth Tata Group’s plant in Tamil Nadu, which was shut down by the unexplained fire on Saturday, is a key linchpin of Apple’s nascent supply chain in the country. A spokesperson for subsidiary Tata Electronics Pvt yesterday said that the company would restart work in “many areas of the facility today.” “We’ve been working diligently since Saturday to support our team and to identify the cause of the fire,”
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
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