TAIEX drops on HTC concerns
The TAIEX trended lower yesterday, falling below the 8,800 point mark, led by smartphone maker HTC (宏達電) amid worries over the company’s newly announced deal to acquire graphics chipset designer S3 Graphics Co, dealers said.
Other high-tech heavyweights — semiconductor firms, in particular — were also under pressure as concerns lingered over weakening global demand for the third quarter of this year, they said.
The TAIEX closed down 51.02 points or 0.58 percent at 8,773.42, after moving between 8,757.47 and 8,795.88, on turnover of NT$106.87 billion (US$3.71 billion).
Oil shipments fell in June
Taiwan purchased less crude oil last month after a fire at Formosa Plastics Group (台塑集團) cut demand. Crude shipments declined 24 percent from a year earlier to 22.8 million barrels last month, the Ministry of Finance said yesterday.
Last month’s oil bill climbed 14 percent to US$2.58 billion, the ministry said in a statement.
The industrial group halted some plants at its Mailiao (麥寮) complex in Yunlin County after a fire on May 12.
Taiwan’s petroleum and coal-product output fell 13 percent in May from a year earlier, the Ministry of Economic Affairs said on June 23.
Long-term debt worth trillions
The national debt amounted to NT$207,000 per person at the end of last month, down NT$4,000 from the end of May, the finance ministry said yesterday.
As of June 30, Taiwan’s long-term debt was NT$4.6085 trillion, while its short-term debt stood at NT$178.8 billion, the ministry said.
Since December last year, the MOF has been publishing a Web-based “National Debt Clock” monthly, mainly to remind government agencies to monitor their spending and thus help lower the national debt.
Land developer to sell shares
Taiwan Land Development Corp (台灣土地開發) plans to sell 150 million new shares at NT$12.5 each to raise NT$1.88 billion, it said in a statement to the Taiwan Stock Exchange yesterday. The proceeds will be used to develop real estate projects and for investments, it said.
Powerchip reveals debt ratio
Powerchip Technology Corp (力晶科技), the nation’s second-biggest DRAM maker, said in a statement yesterday that its debt ratio was 75 percent as of the end of last month.
First bank eyes China deal
First Commercial Bank’s (第一銀行) board yesterday approved plans to sign a business cooperation agreement with China Construction Bank (中國建設銀行) to expand cross-strait banking services, according to a stock exchange filing issued by the lender’s parent, First Financial Holding Co (第一金控).
The bank said it would sign the pact with China Construction, one of China’s “Big Four,” after receiving the green light from the Financial Supervisory Commission, the filing showed.
China alters foreign cargo law
China will ban foreign companies, organizations and individuals from irregular-scheduled cargo sea transportation from Jan 1 next year, the Ministry of Transport said in a statement on its Web site on Wednesday.
NT slips against greenback
The New Taiwan dollar fell against the US currency yesterday, down NT$0.009 to close at NT$28.860. Dealers said the central bank intervened in late trade to reverse the losses posted by the US dollar.
Turnover totaled US$721 million during trading, up from US$606 million the previous session.
PATENTS: MediaTek Inc said it would not comment on ongoing legal cases, but does not expect the legal action by Huawei to affect its business operations Smartphone integrated chips designer MediaTek Inc (聯發科) on Friday said that a lawsuit filed by Chinese smartphone brand Huawei Technologies Co (華為) over alleged patent infringements would have little impact on its operations. In an announcement posted on the Taiwan Stock Exchange, MediaTek said that it would not comment on an ongoing legal case. However, the company said that Huawei’s legal action would have little impact on its operations. MediaTek’s statement came after China-based PRIP Research said on Thursday that Huawei filed a lawsuit with a Chinese district court claiming that MediaTek infringed on its patents. The infringement mentioned in the lawsuit likely involved
Taipei is today suspending work, classes and its US$2.4 trillion stock market as Typhoon Gaemi approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed income trading, statements from its stock and currency exchanges said. Authorities had yesterday issued a warning that the storm could affect people on land and canceled some ship crossings and domestic flights. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) expects its local chipmaking fabs to maintain normal production, the company said in an e-mailed statement. The main chipmaker for Apple Inc and Nvidia Corp said it has activated routine typhoon alert
GROWTH: TSMC increased its projected revenue growth for this year to more than 25 percent, citing stronger-than-expected demand for AI devices and smartphones The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent, as exports and private investment recovered faster than it predicted three months ago. The Taipei-based think tank also expects that Taiwan would see a 8.19 percent increase in exports this year, better than the 7.55 percent it projected in April, as US technology giants spent more money on artificial intelligence (AI) infrastructure and development. “There will be more AI servers going forward, but it remains to be seen if the momentum would extend to personal computers, smartphones and
Catastrophic computer outages caused by a software update from one company have once again exposed the dangers of global technological dependence on a handful of players, experts said on Friday. A flawed update sent out by the little-known security firm CrowdStrike Holdings Inc brought airlines, TV stations and myriad other aspects of daily life to a standstill. The outages affected companies or individuals that use CrowdStrike on the Microsoft Inc’s Windows platform. When they applied the update, the incompatible software crashed computers into a frozen state known as the “blue screen of death.” “Today CrowdStrike has become a household name, but not in