PRC auto investment mooted
Taiwan may open its automobile industry to Chinese investors, Fan Liang-tung (范良棟), executive secretary at the Ministry of Economic Affairs Investment Commission, said yesterday.
“The news raised investor confidence in the sector,” said Amy Tseng, a Primasia Securities analyst. “In the longer run, Chinese investment is beneficial to all industries, not just the automobile sector, because its investment in Taiwan will boost the economy.”
An index of five automobile firms surged 6.9 percent to 85.12, its highest since September.
But Hong Kong-based Nomura analyst Dave Chiou expected any rally in Taiwan’s auto stocks to be very short-term: “Taiwan’s automobile sector is very small, so even if Chinese investors are allowed to invest in it, the impact won’t be great,” he said.
Powerchip, rivals’ sales rise
Powerchip Semiconductor Corp (力晶半導體) yesterday said sales last month grew 4 percent to NT$1.06 billion from NT$1.02 billion in March, helped by a rebound in chip prices following industry-wide output reduction.
Rivals Nanya Technology Corp (南亞科技) and Inotera Memory Inc (華亞科技) said sales last month grew 19 percent and 32 percent to NT$2.65 billion and NT$2.39 billion respectively from March.
NT dollar weakens
The New Taiwan dollar yesterday weakened further to close at NT$33.180 against the greenback from Tuesday’s close of NT$33.133 on turnover of US$1.552 billion.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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