TAIEX bounces back
The TAIEX yesterday recouped almost all of the losses suffered in the previous session, as concerns over the debt crisis in the eurozone eased after European leaders guaranteed that financially troubled Greece would stay in the eurozone, dealers said.
Following a 2.61 percent increase in the Philadelphia Semiconductor Index overnight, investors scrambled to pick up high tech stocks, in particular semiconductor shares, but buying also spread to other sectors until the end of the session, dealers said.
The TAIEX closed up 157.21 points, or 2.17 percent, at 7,385.68, after moving between 7,348.21 and 7,430.29, on turnover of NT$101.14 billion (US$3.41 billion).
External debt paid off
Taiwan has no external debt after repaying the last installment of US$238,238 to Saudi Arabia yesterday, the Ministry of Finance said in a statement.
The ministry said the government borrowed US$15.76 million from Saudi Arabia in 1976 to build the Zhongsha Bridge in central Taiwan.
The government has outstanding domestic debts of NT$4.6 trillion as of the end of last month, which is about 34.67 percent of average annual GNP for the last three years, the ministry said.
Firms to move into HBSP
A total of 12 firms have been approved to take up residence in the Hsinchu Biomedical Science Park (HBSP) with NT$1.62 billion (US$54 million) in investments, park authorities said yesterday.
The 12 firms are the first investors to enter the science park, said Hsinchu Science Park (HSP), which currently operates the biomedical park.
HSP said the 12 investors would be located in the biomedical park’s biotech building, where they would develop technology including artificial tooth roots, orthopedic implants, drug delivery systems and other high-end medical products.
Inventec employees killed
Notebook contract maker Inventec Corp (英業達) yesterday said 11 employees died and 13 were injured in a bus crash in Shanghai on Wednesday night.
A company shuttle bus carrying 24 employees was heading back to the staff dormitory after completing maintenance work at a client’s facility, Inventec said in a statement.
The bus collided with the vehicle in front and then flipped over after running into the protective railing.
Fubon Life buys real estate
Fubon Life Insurance Co (富邦人壽) purchased NT$1.59 billion in real estate in Taipei city yesterday, parent company Fubon Financial Holding Co (富邦金控) said in a statement to the Taiwan Stock Exchange.
The life insurer also plans to buy shares in the Hong Kong listing of CITIC Securities Co (中信證券) and Tenfu (Cayman) Holdings Ltd (天福開曼控股), Fubon Financial said in separate statements to the stock exchange, without providing further details.
NT dollar falls back
The New Taiwan dollar fell against the US dollar yesterday, shedding NT$0.01, to close at NT$29.635 after the greenback recouped early losses with local central bank intervention, dealers said.
The greenback’s rebound also reflected lingering concerns over the debt crisis in Europe, although European leaders guaranteed that financially-troubled Greece would stay in the eurozone.
The fall of the South Korean won and the Japanese yen added downward pressure on the NT dollar, they added.
Turnover totalled US$838 million during the trading session.
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
SECTOR LEADER: TSMC can increase capacity by as much as 20 percent or more in the advanced node part of the foundry market by 2030, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to lead its peers in the advanced 2-nanometer process technology, despite competition from Samsung Electronics Co and Intel Corp, TrendForce Corp analyst Joanne Chiao (喬安) said. TSMC’s sophisticated products and its large production scale are expected to allow the company to continue dominating the global 2-nanometer process market this year, Chiao said. The world’s largest contract chipmaker is scheduled to begin mass production of chips made on the 2-nanometer process in its Hsinchu fab in the second half of this year. It would also hold a ceremony on Monday next week to
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