TAIEX closes up 0.24 percent
The TAIEX closed up 18.49 points, or 0.24 percent, at 7,621.72 points yesterday. Turnover totaled NT$76.590 billion (US$2.54 billion) during the trading session.
Among the top performing sectors, electronics shares advanced 0.5 percent and computer and peripherals stocks finished up 1.17 percent, while financial stocks shed 0.63 percent.
Milk powder tariff cut
Minister of Finance Lee Sush-der (李述德) said yesterday the customs tariff committee would discuss a temporary reduction of tariffs for milk powder at its meeting on Monday next week.
Last week, several lawmakers said the ministry should temporarily reduce the customs tariff on infant milk powder to reduce the burden on parents and help increase the nation’s fertility rate.
Taichung to Hanoi route opens
The maiden flight of Mandarin Airlines’ (華信航空) new service between Greater Taichung and Hanoi departed yesterday morning amid hopes direct flights would attract more international visitors to the city.
The flight was the first to depart from Greater Taichung Airport for an international capital, Greater Taichung Deputy Mayor Tsai Ping-kun (蔡炳坤) said at a ceremony.
Many Taichung-based manufacturers have investments in Vietnam, so the new service would provide local businesspeople with a much needed service, Tsai said.
Taishin net income surges
Taishin Financial Holding Co (台新金控) said yesterday it earned NT$800 million in net income last month, surging 77.78 percent from September on improving profitability at its banking arm.
Taishin International Bank (台新銀行) saw its net income gain NT$310 million to NT$710 million last month, as the local bourse -recovered some lost ground, Taishin Financial said.
Cumulative earnings rose to NT$8.3 billion as of last month at Taishin Financial, translating into earnings per share of NT$1.12, the group said.
Oil purchases slid last month
The nation purchased less crude oil last month after industrial output slowed. Shipments declined 1.7 percent from a year earlier to 24.4 million barrels last month, the Ministry of Finance said yesterday. The nation’s oil bill climbed 38 percent to US$2.62 billion last month, the ministry said in a statement.
Meanwhile, the nation imported 1.3 million tonnes of liquefied natural gas last month for US$1.04 million, according to data from the Directorate-General of Customs.
The amount was 73 percent higher than about 747,000 tonnes bought a year earlier, according to customs data.
Mega Financial profits fall
Mega Financial Holding Co (兆豐金控) yesterday posted NT$1.19 billion in net profits last month, 15.86 percent lower than a month earlier and 6.24 percent year-on-year, as bearish sentiment continued to weaken earnings at its securities brokerage unit, its statement indicated.
Net income totaled NT$15.48 billion for the first 10 months, or earnings per share of NT$1.37, the statement said.
Bank scraps bond sale
Far Eastern International Bank (遠東國際商銀) scrapped a plan to issue as much as US$200 million in five-year overseas convertible bonds because of the European debt crisis and slowdown in the US economy, the lender said in a statement to the Taiwan Stock Exchange yesterday.
NT dollar falls retreats
The New Taiwan dollar fell against the US dollar yesterday, declining NT$0.083 to close at NT$30.108.
Contract chipmaker United Microelectronics Corp (UMC, 聯電) yesterday said it has signed a memorandum of understanding (MOU) with Polar Semiconductor LLC to collaborate on the production of 8-inch wafers in the US. The collaboration aims to strengthen 8-inch wafer manufacturing in the US amid Washington’s efforts to increase onshore manufacturing of semiconductors, contribute to supply chain resilience against shifting geopolitical dynamics, and ensure a secure domestic supply of power semiconductors critical to automotive, electric grids, robotic manufacturing and data centers, the companies said in a joint statement. Under the MOU, Polar and UMC will identify devices for Polar to manufacture at
TECH TITANS: Amazon’s latest chip joins Google in competing for the 90 percent market share held by Nvidia, which claims it is ‘a generation ahead of the industry’ Amazon Web Services (AWS) on Tuesday launched its in-house-built Trainium3 artificial intelligence (AI) chip, marking a significant push to compete with Nvidia Corp in the lucrative market for AI computing power. The move intensifies competition in the AI chip market, where Nvidia dominates with an estimated 80 to 90 percent market share for products used in training large language models that power the likes of ChatGPT. Google last week caused tremors in the industry when it was reported that Facebook-parent Meta Platforms Inc would employ Google AI chips in data centers, signaling new competition for Nvidia. This followed the release last month of
INSULATED: The company said it is less exposed to global complications, as it has built a strong footprint worldwide, and has multiple sources of rare earths and raw minerals Merck Group yesterday said it would ramp up production next year at its new flagship facility in Kaohsiung’s Lujhu District (路竹) to satisfy growing demand for advanced semiconductor materials and specialty gases, and to address supply resilience issues amid mounting geopolitical risks. Merck made the remarks during a news conference before the inauguration of its 500 million euros (US$582.1 million) facility, which is also to supply other markets in the Asia-Pacific region, it said. Merck executive board deputy chair and electronics CEO Kai Beckmann told reporters the company adopted a “local-for-local” strategy about seven years ago to address the cycle time of
Two companies wholly owned by the daughter of the founder of Hon Hai Precision Industry Co (鴻海精密) on Monday reported to the Taiwan Stock Exchange that they would dispose of all of the Hon Hai shares they hold. In filings with the exchange, Hong Wei Investment Co (鋐維) said it would sell the 2.771 million Hon Hai shares it holds and Frontier Investment Corp (承鋒投資) said it would sell its 2.409 million Hon Hai shares from tomorrow until Jan. 3 next year. The two companies are wholly owned and chaired by Shirley Gou (郭曉玲), the eldest daughter of Hon Hai founder Terry
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