TAIEX up on Wall Street rally
The TAIEX vaulted past the 8,100-point mark yesterday on the back of a Wall Street rally overnight after Washington reported better-than-expected retail sales figures, dealers said.
A US Federal Reserve announcement that most of the largest US banks passed stress tests on their capital levels also lifted sentiment and prompted investors to buy into the local bourse, they said.
Large-cap electronics stocks were the driver for gains during the trading session, as investors witnessed the tech-rich NASDAQ hitting its highest level since Nov. 15, 2000, they added.
The TAIEX closed up 93.75 points, or 1.17 percent, at 8,125.26 after moving between 8,113.76 and 8,170.31 on turnover of NT$123.41 billion (US$4.18 billion).
Philippines’ sales to Taiwan up
The Philippines exported US$149.26 million of products to Taiwan in January, accounting for 3.6 percent of its total exports and putting Taiwan in ninth spot in its list of largest export markets, according to figures released by the Philippines’ National Statistics Office on Tuesday.
Boosted by demand for electronics, the Philippines’ export volume in January rose 3 percent year-on-year to US$4.12 billion and 21 percent month-on-month.
Electronics were the Philippines’ No. 1 export in January, reaching US$2.15 billion and accounting for 52.2 percent of the country’s total exports, the National Statistics Office said.
In second spot was woodcraft and furniture, with US$189.62 million in exports, followed by apparel and clothing accessories, which totaled US$170.87 million.
MediaTek chided in patent case
MediaTek Inc (聯發科), one of the nation’s leading integrated-circuit designers, has been accused by a US rival of patent infringement, according to the US International Trade Commission (ITC).
The ITC said on Tuesday that US-based LSI Corp and its subsidiary Agere Systems Inc have filed a complaint with the commission, alleging MediaTek and several other companies have infringed on technology related to certain audiovisual components and products.
In the same complaint, other companies, including MediaTek USA Inc, MediaTek Wireless Inc and Ralink Technology Corp (雷凌), which are MediaTek subsidiaries, Taiwan-based IC designer Realtek Semiconductor Corp (瑞昱) and Funai Electric Co of Japan were also named as respondents, the ITC said.
MediaTek and Realtek declined to comment on the case.
Auto parts show to expand
The annual Taipei International Auto Parts and Accessories Show, scheduled to open on April 11, is expected to attract 1,100 local and foreign exhibitors, and more than 3,000 overseas buyers — 30 percent more than last year — have registered to attend, the Taiwan External Trade Development Council said yesterday.
Exports of auto parts and accessories totaled NT$168.2 billion in the first 11 months of last year, up 7.44 percent compared with 2010, according to government statistics.
This year’s trade show will expand its scope to 11 product categories from seven last year to provide international buyers a one-stop shopping experience and help diversify Taiwan’s supply chain, the council said.
The event, which coincides with the Taipei International Automobile Electronics Show, will run until April 14 at the Taipei World Trade Center Exhibition Hall 1 and Nangang Exhibition Hall.
NT dollar slips
The New Taiwan dollar fell against the greenback yesterday, shedding NT$0.032 to close at NT$29.560.
Turnover totaled US$757 million during the trading session.
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