Volatile TAIEX up 0.19%
The TAIEX closed up 0.19 percent yesterday after seesaw fluctuations between buying in old economy stocks and selling in the bellwether electronics sector, which has been haunted by a rising New Taiwan dollar, dealers said.
The TAIEX rose 16.28 points to the day’s high of 8,756.71, off a low of 8,698.41, on turnover of NT$136.89 billion (US$4.58 billion).
A total of 1,585 stocks closed up and 2,683 were down with 344 remaining unchanged.
UMC boosts New Business
United Microelectronics Corp (聯電) invested an additional NT$1.5 billion in UMC New Business Investment Corp (聯電新投資事業), a wholly-owned unit, the Hsinchu-based chipmaker said in a statement to the stock exchange yesterday.
Silicon to buy back 30m shares
Silicon Integrated Systems Corp (矽統科技) plans to buy back 30 million common shares, or 4.2 percent of its total outstanding shares, the company said in a statement to the stock exchange yesterday.
The company plans to buy back shares at between NT$13.41 and NT$28.27 each from Dec. 16 to Feb. 15, next year. Shares repurchased from the open market will be transferred to employees, the company said.
TGI investing in super-thin glass
Taiwan Glass Industrial Corp’s (TGI, 台玻) board of directors approved a plan to invest NT$3 billion in a new super-thin glass production line to meet market demand, the company said in a statement to the Taiwan Stock Exchange.
Cathay Life buys Hsinchu land
Cathay Life Insurance Co (國泰人壽) bought real estate in Hsinchu, northern Taiwan, for NT$578 -million, parent Cathay Financial Holding Co (國泰金控) said in a statement to the stock exchange yesterday.
TCB mulls buying Bills Finance
Taiwan Cooperative Bank (TCB, 合作金庫銀行) is considering buying shares in Taiwan Cooperative Bills Finance Corp (合作金庫票券金融) from Bank of Panhsin (板信銀行) and Standard Chartered Bank (Taiwan) Ltd (渣打銀行) to make it a wholly owned subsidiary, the lender said in a statement to the stock exchange yesterday.
It mulls buying 51.78 million shares in the bills finance firm at prices between NT$6.94 and NT$8.03 per share, or a total of up to NT$416 million, Taiwan Cooperative said.
The bank’s board approved a business cooperation agreement draft to be signed with Bank of China Ltd (中國銀行), the lender said in a statement yesterday. The pact needs approval from local regulators before the agreement can be signed, it said.
NT dollar falls slightly
The New Taiwan dollar fell against the US dollar yesterday, dropping NT$0.05 to close at NT$30.5.
Turnover totaled US$881 million during the trading session.
The greenback opened at NT$30.5 and moved between NT$29.800 and NT$30.550 before the close.
Dealers said the New Taiwan dollar continued its momentum from the previous day, rising above NT$30 against the US dollar during most of the trading session before the central bank intervened.
eCareme launches music service
Cloud computing services provider eCareme Technologies Inc (全球聯迅), under Asustek Computer Inc (華碩電腦), yesterday launched a new service that allows users to listen to their favorite music across various mobile devices.
The “MEar” application is its latest “portable music” service. Users can then listen to songs across smartphones, PCs and tablets, as long as the program is downloaded onto these devices.
ADVANCED: Previously, Taiwanese chip companies were restricted from building overseas fabs with technology less than two generations behind domestic factories Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp, would no longer be restricted from investing in next-generation 2-nanometer chip production in the US, the Ministry of Economic Affairs said yesterday. However, the ministry added that the world’s biggest contract chipmaker would not be making any reckless decisions, given the weight of its up to US$30 billion investment. To safeguard Taiwan’s chip technology advantages, the government has barred local chipmakers from making chips using more advanced technologies at their overseas factories, in China particularly. Chipmakers were previously only allowed to produce chips using less advanced technologies, specifically
BRAVE NEW WORLD: Nvidia believes that AI would fuel a new industrial revolution and would ‘do whatever we can’ to guide US AI policy, CEO Jensen Huang said Nvidia Corp cofounder and chief executive officer Jensen Huang (黃仁勳) on Tuesday said he is ready to meet US president-elect Donald Trump and offer his help to the incoming administration. “I’d be delighted to go see him and congratulate him, and do whatever we can to make this administration succeed,” Huang said in an interview with Bloomberg Television, adding that he has not been invited to visit Trump’s home base at Mar-a-Lago in Florida yet. As head of the world’s most valuable chipmaker, Huang has an opportunity to help steer the administration’s artificial intelligence (AI) policy at a moment of rapid change.
TARIFF SURGE: The strong performance could be attributed to the growing artificial intelligence device market and mass orders ahead of potential US tariffs, analysts said The combined revenue of companies listed on the Taiwan Stock Exchange and the Taipei Exchange for the whole of last year totaled NT$44.66 trillion (US$1.35 trillion), up 12.8 percent year-on-year and hit a record high, data compiled by investment consulting firm CMoney showed on Saturday. The result came after listed firms reported a 23.92 percent annual increase in combined revenue for last month at NT$4.1 trillion, the second-highest for the month of December on record, and posted a 15.63 percent rise in combined revenue for the December quarter at NT$12.25 billion, the highest quarterly figure ever, the data showed. Analysts attributed the
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) quarterly sales topped estimates, reinforcing investor hopes that the torrid pace of artificial intelligence (AI) hardware spending would extend into this year. The go-to chipmaker for Nvidia Corp and Apple Inc reported a 39 percent rise in December-quarter revenue to NT$868.5 billion (US$26.35 billion), based on calculations from monthly disclosures. That compared with an average estimate of NT$854.7 billion. The strong showing from Taiwan’s largest company bolsters expectations that big tech companies from Alphabet Inc to Microsoft Corp would continue to build and upgrade datacenters at a rapid clip to propel AI development. Growth accelerated for
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