TAIEX closes higher
The TAIEX closed up 0.33 percent yesterday as non-high-tech stocks staged a technical rebound from losses incurred in the previous session, while the bellwether electronics sector remained lackluster, dealers said.
The market opened flat following an overnight fall on Wall Street ahead of US non-farm payroll data due yesterday, but buying in select old economy stocks gathered pace during the session, dealers said.
The TAIEX rose 26.45 points to 7,963.30, after moving between 7,829.19 and 8,018.74 on turnover of NT$115.96 billion (US$3.65 billion).
A total of 1,729 stocks closed up and 1,723 were down, with 286 remaining unchanged.
MOEA negotiators in Japan
Trade negotiators from the Ministry of Economic Affairs (MOEA) are currently visiting Japan and have started talks with Japanese economic and trade officials with the aim of promoting enhanced economic and trade integration between the two countries, an economic official said yesterday.
Since signing the Economic Cooperation Framework Agreement (ECFA) with China, Taiwan has started talks with Singapore on an economic cooperation agreement, as well as engaging in ongoing negotiations with Japan on a bilateral investment guarantee agreement, according to the official.
Chimei ups China investment
Chimei Innolux Corp (奇美電子), Taiwan’s largest LCD panel maker, said it will boost investment in China by US$370 million. The company will invest US$100 million in its Chinese subsidiary Nan Hai Chi Mei Electronics Ltd (南海奇美光電), which makes display modules and touch panels.
It will also increase investment in NingBo Chi Mei Optoelectronics Ltd (寧波奇美光電) focused on the assembly and sale of modules by US$95 million, with US$65 million invested in NingBo Chi Mei Electronics Ltd (寧波奇美電子) will be used to develop, manufacture, warehouse and sell display modules and touch panels. Chimei Innolux will also raise investments in Chengdu, Xiamen, Nanjing and Shanghai, the company said in separate exchange filings yesterday.
Companies join green program
Nineteen Taiwanese companies in industries ranging from telecoms and communications, to commodities and household appliances, volunteered to join a government energy-saving and carbon reduction program starting on Monday, the Bureau of Energy said yesterday.
The bureau said the program aims to increase voluntary energy saving by 5 percent over a year, saving 52.65 million kilowatt-hours of electricity and 33,000 tonnes of carbon dioxide emissions each year.
To encourage participants, the bureau will award companies involved certificates as part of a program to create a positive image for energy-saving enterprises and spread the idea of carbon emissions reduction.
Foreign reserves reach high
Taiwan’s foreign exchange reserves hit a record high of US$370.11 billion at the end of last month, up US$7.73 billion from the previous month, the central bank reported on Thursday.
In addition to returns on foreign exchange reserve investments, the appreciation of the euro and other major currencies held by the central bank contributed largely to the increase.
Taiwan’s foreign exchange reserves totaled US$362.38 billion in June, which put it in fourth place worldwide.
NT dollar closes higher
The New Taiwan dollar rose against the US dollar yesterday, up NT$0.031 to close at NT$31.819. Turnover was US$569 million.
KEEPING UP: The acquisition of a cleanroom in Taiwan would enable Micron to increase production in a market where demand continues to outpace supply, a Micron official said Micron Technology Inc has signed a letter of intent to buy a fabrication site in Taiwan from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion to expand its production of memory chips. Micron would take control of the P5 site in Miaoli County’s Tongluo Township (銅鑼) and plans to ramp up DRAM production in phases after the transaction closes in the second quarter, the company said in a statement on Saturday. The acquisition includes an existing 12 inch fab cleanroom of 27,871m2 and would further position Micron to address growing global demand for memory solutions, the company said. Micron expects the transaction to
Vincent Wei led fellow Singaporean farmers around an empty Malaysian plot, laying out plans for a greenhouse and rows of leafy vegetables. What he pitched was not just space for crops, but a lifeline for growers struggling to make ends meet in a city-state with high prices and little vacant land. The future agriculture hub is part of a joint special economic zone launched last year by the two neighbors, expected to cost US$123 million and produce 10,000 tonnes of fresh produce annually. It is attracting Singaporean farmers with promises of cheaper land, labor and energy just over the border.
US actor Matthew McConaughey has filed recordings of his image and voice with US patent authorities to protect them from unauthorized usage by artificial intelligence (AI) platforms, a representative said earlier this week. Several video clips and audio recordings were registered by the commercial arm of the Just Keep Livin’ Foundation, a non-profit created by the Oscar-winning actor and his wife, Camila, according to the US Patent and Trademark Office database. Many artists are increasingly concerned about the uncontrolled use of their image via generative AI since the rollout of ChatGPT and other AI-powered tools. Several US states have adopted
A proposed billionaires’ tax in California has ignited a political uproar in Silicon Valley, with tech titans threatening to leave the state while California Governor Gavin Newsom of the Democratic Party maneuvers to defeat a levy that he fears would lead to an exodus of wealth. A technology mecca, California has more billionaires than any other US state — a few hundred, by some estimates. About half its personal income tax revenue, a financial backbone in the nearly US$350 billion budget, comes from the top 1 percent of earners. A large healthcare union is attempting to place a proposal before
RSS