TAIEX extends losses
Taiwan’s stock market extended losses yesterday from the previous two sessions, as market attention was caught by a newly released report in the US that cast doubts over the pace of the economic recovery, dealers said.
Jitters also remained amid uncertainty over the financial crisis in the eurozone, after a meeting of G20 financial ministers came up with no solutions to deal with the debt problems, dealers said.
The TAIEX closed down 109.05 points, or 1.48 percent, at 7,244.32, after moving between 7,240.15 and 7,361.22, on turnover of NT$78.19 billion (US$2.58 billion).
Fubon HK eyes Chinese shares
Fubon Bank Hong Kong Ltd (富銀香港) plans to buy 42.878 million new shares of Xiamen Bank Co (廈門銀行) in a rights issue for 116.2 million yuan (US$18.2 million) to maintain a 19.99 percent stake in the Chinese lender, parent Fubon Financial Holding Co (富邦金控) said in a statement to the Taiwan Stock Exchange yesterday.
ABC Taiwan buys Aoba stake
ABC Taiwan Electronics Corp’s (千如電機工業) board approved the purchase of a 70 percent stake in Aoba Technology Sdn for NT$140 million, the company said in an exchange statement yesterday.
The company plans to raise up to NT$100 million from selling five-year convertible bonds to fund the acquisition, it said in a separate statement.
Taiwanese win Red Herrings
Four Taiwanese Internet startup companies on Wednesday were winners in the Red Herring 100 Asia competition.
Red Herring, a technology business magazine, annually selects the 100 most innovative companies in the Asian, European, North American and global regions.
The four Taiwanese winners were Q.L.L. (Quick Language Learning) Inc (快速語言學習系統設計) in the field of digital language learning; NX (Bounty Hunter) (獎金獵人比賽資訊站), a platform that collates information on various competitions held across Taiwan; Wantoto Inc (瑞策國際), a mobile application developer whose apps are among the top downloads in Taiwan; and Xinosys Co (錫諾系統), developer of the cloud-based commercial transaction platform Patisco.com.
Former Red Herring winners include Facebook, Twitter, Google, Skype, YouTube and eBay.
Tax revenues higher: Lee
Minister of Finance Lee Sush-der (李述德) confirmed on Wednesday a newspaper report that the treasury will receive higher-than-targeted tax revenues this year.
The excess is mainly the result of increased collection of corporate income tax thanks to a gradual recovery in the market, he said.
The Chinese-language Economic Daily News said on Thursday last week that tax revenues were expected to surpass their target for this year by at least NT$50 billion because revenues for the first nine months had already reached NT$1.38 trillion.
The nine-month figure represented a growth of NT$127.2 billion, or more than 10 percent, compared with the same period of last year, the paper said.
The targeted tax figure for this year stands at NT$1.695 trillion. As of the end of last month, 81.5 percent of the goal had been reached, the ministry said.
NT dollar closes lower
The New Taiwan dollar lost ground against its US counterpart yesterday, declining NT$0.169 to close at NT$30.269 in reflection of a weakening euro amid renewed concerns over the debt problems in the eurozone, dealers said.
Large selling by foreign institutional investors in the TAIEX also added downward pressure on the NT dollar, they said.
Turnover totaled US$1.235 billion during the trading session.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies advanced chips to Nvidia Corp and Apple Inc, yesterday reported NT$1.046 trillion (US$33.1 billion) in revenue for last quarter, driven by constantly strong demand for artificial intelligence (AI) chips, falling in the upper end of its forecast. Based on TSMC’s financial guidance, revenue would expand about 22 percent sequentially to the range from US$32.2 billion to US$33.4 billion during the final quarter of 2024, it told investors in October last year. Last year in total, revenue jumped 31.61 percent to NT$3.81 trillion, compared with NT$2.89 trillion generated in the year before, according to
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