TAIEX dips on profit taking
The TAIEX closed down 0.42 percent yesterday on profit taking from a previous session as investors took cues from a lackluster performance on Wall Street overnight, dealers said.
The TAIEX fell 37.77 points to 8,861.10, after moving between 8,861.01 and 8,911.41, on turnover of NT$120.77 billion (US$120.04).
A total of 2,911 stocks closed down and 1,278 up, while 348 remained unchanged.
First Commercial inks deal
First Commercial Bank (第一銀行) signed an agreement for cooperation on financial business with Bank of China Ltd (中國銀行), parent First Financial Holding Co (第一金控) said in a statement to the Taiwan Stock Exchange yesterday.
The agreement came after Chinatrust Commercial Bank’s (中國信託商銀) board on Thursday approved a plan to sign a memorandum of understanding with the Chinese bank on cooperation.
Mega International Commercial Bank Co’s (兆豐國際商銀) board on Wednesday approved plans to cooperate with the Chinese lender on syndicated loans, factoring and personnel training.
Hota gets loan deal
Hota Industrial Manufacturing Co (和大工業) got a seven-year NT$1.5 billion loan from a group of lenders to help repay debt and boost working capital, Land Bank of Taiwan (土地銀行) said in a statement on its Web site yesterday.
Acer wins design awards
Acer Inc (宏碁), the world’s No. 3 PC brand, yesterday said it bagged four coveted prizes at Germany’s 2011 iF product design awards with the Acer Aspire 8943G notebook, Acer C20 pico palm-sized projector, Packard Bell EasyNote Butterfly notebook as well as the 23-inch high-definition Gateway FHD2303L LED monitor.
Of these winning products, the Acer Aspire 8943G — a notebook that uses Dolby home theater solutions and has an aluminum magnesium cover and keyboard — has won three other major awards, namely Japan Good Design, Computex Taipei Design & Innovation Gold and Computex Best Choice.
The Gateway FHD2303L also received a Japan Good Design award.
Techvest in share buy-up
Taiwan PCB Techvest Co (志超科技), a local supplier of electronic components and printed circuit boards, agreed to buy as much as NT$250 million of Yeu Hwan Technology Corp (宇環科技) shares in a private placement, Taiwan PCB said in a statement to the stock exchange yesterday.
Evergreen in executive reshuffle
Evergreen Marine Corp (長榮海運) named company president Wang Chung-jinn (王宗進) as vice chairman, replacing Jack Yen (顏火燿), effective on Jan. 1, the company said in a statement to the Taiwan Stock Exchange yesterday.
Anchor Chang (張正鏞), chief executive vice president, has been promoted to Wang’s former position, the company said in a separate statement.
Wal-Mart invests in 360buy
Chinese online retailer 360buy Jingdong Mall (京東商城) received more than US$500 million from investors including Wal-Mart Stores, Inc, the China Business News reported yesterday, citing the company’s CEO Li Qiangdong (劉強東).
NT dollar holds steady
The New Taiwan dollar closed unchanged at NT$30.485 against the US dollar yesterday.
Dealers said Taiwan’s central bank intervened in the local foreign exchange market again in late trade. Turnover totaled US$628 million during the trading session.
Shares of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure yesterday after a report that Apple Inc is looking to shift some orders from the Taiwanese company to Intel Corp. TSMC shares fell NT$55, or 2.4 percent, to close at NT$2,235 on the local main board, Taiwan Stock Exchange data showed. Despite the losses, TSMC is expected to continue to benefit from sound fundamentals, as it maintains a lead over its peers in high-end process development, analysts said. “The selling was a knee-jerk reaction to an Intel-Apple report over the weekend,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain Apple Inc’s primary chip manufacturing partner despite reports that Apple could shift some orders to Intel Corp, industry experts said yesterday. The comments came after The Wall Street Journal reported on Friday that Apple and Intel had reached a preliminary agreement following more than a year of negotiations for Intel to manufacture some chips for Apple devices. Taiwan Institute of Economic Research (台灣經濟研究院) economist Arisa Liu (劉佩真) said TSMC’s advanced packaging technologies, including integrated fan-out and chip-on-wafer-on-substrate, remain critical to the performance of Apple’s A-series and M-series chips. She said Intel and Samsung
TRANSITION: With the closure, the company would reorganize its Taiwanese unit to a sales and service-focused model, Bridgestone said Bridgestone Corp yesterday announced it would cease manufacturing operations at its tire plant in Hsinchu County’s Hukou Township (湖口), affecting more than 500 workers. Bridgestone Taiwan Co (台灣普利司通) said in a statement that the decision was based on the Tokyo-based tire maker’s adjustments to its global operational strategy and long-term market development considerations. The Taiwanese unit would be reorganized as part of the closure, effective yesterday, and all related production activities would be concluded, the statement said. Under the plan, Bridgestone would continue to deepen its presence in the Taiwanese market, while transitioning to a sales and service-focused business model, it added. The Hsinchu
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
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