TAIEX recoups early losses
Share prices recouped early losses to return to positive territory yesterday after -government-run funds resumed buying in large-cap stocks in a bid to offset the impact of the financial crisis in the eurozone and shore up market confidence, dealers said.
While the TAIEX climbed from the day’s low below the 6,900 point mark, turnover remained thin as many investors stayed cautious, watching closely to see if the European financial ministers meeting would decide on new bailout funds for debt-ridden Greece, dealers said.
The TAIEX closed up 33.90 points, or 0.48 percent, at 7,047.87, after moving between 6,889.99 and 7,047.99, on turnover of NT$88.95 billion (US$2.90 billion).
Reference figures out: Chang
The government plans to tax real estate based on transaction prices in stages instead of using reference figures, Deputy Minister of Finance Chang Sheng-ford (張盛和) said by telephone yesterday.
The government now calculates the tax based on its assessment of the property, Chang said, which are usually lower than market prices. There is no fixed timetable for the new levy, he said.
On Monday, Minister of the Interior Jiang Yi-huah (江宜樺) said real-estate tax based on transaction prices, which President Ma Ying-jeou (馬英九) has pledged to achieve gradually, could be implemented in three to five years.
Furukawa to build new plant
Japanese firm Furukawa Electric Co is spending NT$4.6 billion to expand in Taiwan, including building a new plant in Yunlin County to produce electrodeposited copper foils.
The Ministry of Economic Affairs on Monday said that Furukawa would spend NT$2.45 billion in setting up a plant to produce the copper foils, which are used in automobile lithium-ion batteries.
The plant marks Furukawa’s first such overseas facility and is slated for mass production in August next year.
The company is also investing NT$2.1 billion to boost copper foil output for printed circuit boards at an existing facility in Yunlin, the ministry said.
NexPower write-off announced
United Microelectronics Corp (聯電), the world’s second--largest contract chipmaker, said its NexPower Technology Corp (聯相光電) affiliate wrote off NT$1.239 billion from the impairment of assets in the third quarter, the Hsinchu-based chipmaker said a filing to the Taiwan Stock Exchange yesterday.
Chunghwa to introduce platform
Chunghwa Telecom Co (中華電信), the largest telecom operator in Taiwan, will introduce its “-Chunghwa cloud market” service platform tomorrow — the first of its kind in the country.
The cloud market can help independent software vendors find a client base with increased precision and thus help them save on marketing costs, according to Chunghwa officials.
The new service will also enable small and medium-sized enterprises to rent software and hardware on the platform, helping them to lower their operating costs, they added.
The company said the service is part of its plan to establish an integrated platform that speeds up cloud computing applications in the country and creates low-cost and highly efficient services.
NT dollar falls against US
The New Taiwan dollar fell against the US dollar yesterday, down NT$0.093 to close at NT$30.680, a reflection of the weakness of Asian currencies, led by a falling euro, dealers said.
Turnover totaled US$949 million during the trading session.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
Apple Inc increased iPhone production in India by about 53 percent last year and now makes a quarter of its marquee devices there, reflecting the US company’s efforts to avoid tariffs on China. The company assembled about 55 million iPhones in India last year, up from 36 million a year earlier, people familiar with the matter said, asking not to be named because the numbers aren’t public. Apple makes about 220 million to 230 million iPhones a year globally, with India’s share of the total increasing rapidly. Apple has accelerated its expansion in the world’s most populous country in recent years, bolstered
HEADWINDS: The company said it expects its computer business, as well as consumer electronics and communications segments to see revenue declines due to seasonality Pegatron Corp (和碩) yesterday said it aims to grow its artificial intelligence (AI) server revenue more than 10-fold this year from last year, driven by orders from neocloud solutions clients and large cloud service providers. The electronics manufacturing service provider said AI server revenue growth would be driven primarily by the Nvidia Corp GB300 server platform. Server shipments are expected to increase each quarter this year, with the second half likely to outperform the first half, it said. The AI server market is expected to broaden this year as more inference applications emerge, which would drive demand for system-on-chip, application-specific integrated circuits
PROJECTION: TSMC said it expects strong growth this year, with revenue in US dollars projected to grow by about 30 percent, outperforming the industry Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales last month reached NT$317.66 billion (US$9.98 billion), the highest ever for the month of February, driven by robust demand for chips built using the company’s advanced 3-nanometer (3nm) process. Last month’s figure was up 22.2 percent from a year earlier, but fell 20.8 percent from January, the world’s largest contract chipmaker said in a statement. For the first two months of the year, TSMC posted cumulative sales of NT$718.91 billion, up 29.9 percent from a year earlier. Analysts attributed the growth to sustained global demand for artificial intelligence (AI) products
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