TAIEX edges up 61.84 points
The local bourse ended in positive territory yesterday as market heavyweights staged a technical rebound following a steep decline in the previous session, dealers said.
Turnover was thin as many investors took to the sidelines, watching closely how foreign institutional investors would move after dumping a big chunk of local shares a day earlier, dealers said.
The TAIEX closed up 61.84 points, or 0.78 percent, at 8,029.46, after moving between 7,978.74 and 8,033.22.
Turnover totaled NT$81.68 billion (US$2.76 billion) during the session.
The plastics and chemical sectors scored the highest gains among the market’s eight largest sectors, finishing up 1 percent, while the paper and pulp sector closed down 0.4 percent.
MediaTek ranking slips to 22
MediaTek Inc (聯發科), one of Taiwan’s leading integrated circuit designers, was the 22nd-largest chip supplier in the world last year, dropping three notches from 19th place in 2010, according to a report from market advisory firm iSuppli.
The report, released on Monday, showed MediaTek’s market share fell to 0.9 percent last year after its sales dropped 16.9 percent to US$2.95 billion.
iSuppli said US-based Intel Corp retained the largest chip supplier last year by generating US$48.72 billion in sales, which rose 20.6 percent from a year earlier.
Last year, Intel grasped a 15.6 percent share of the global chip market, compared with 13.1 percent recorded in 2010, iSuppli said.
Samsung Electronics Co of South Korea came in second as it took a 9.2 percent share of the global chip market last year, iSuppli said.
Samsung posted US$28.56 billion in sales last year, up 0.6 percent from a year earlier, iSuppli said.
Elpida shares drop to ￥1
Elpida Memory Inc closed at ￥1 in Tokyo trading before a delisting that will wipe out shareholders in a company that was valued at more than US$1.1 billion before it filed for bankruptcy last month.
The chipmaker, whose customers include Apple Inc, will be delisted today after seeking court protection with ￥448 billion (US$5.4 billion) of liabilities last month. Elpida, which went public in November 2004, failed after losses in the past five quarters, exacerbated by falling chip prices and a rising yen, left it unable to repay debt.
Customers may have to pay more for chips if Elpida is liquidated, as the industry would lose 12 percent of capacity, according to TrendForce Corp, a Taipei-based research company.
In Taipei trading, Elpida’s Taiwan depositary receipts (TDRs) — which will also be delisted on the Taiwan Stock Exchange today — dropped 6.98 percent to NT$1.6 yesterday.
Formosa Plastics raises NT$6bn
Formosa Plastics Corp (台塑), the nation’s largest maker of polyvinyl chloride, yesterday raised NT$6 billion via a bond sale that was priced at the tight end of expectations, according to data collected by underwriters.
The company sold NT$4 billion in five-year bonds at a yield of 1.26 percent and NT$2 billion in seven-year bonds at 1.42 percent.
NT rises against greenback
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.038 to close at NT$29.584.
Turnover totaled US$518 million during the trading session.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
WORLD DOMINATION: TSMC’s lead over second-placed Samsung has grown as the latter faces increased Chinese competition and the end of clients’ product life cycles Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) retained the No. 1 title in the global pure-play wafer foundry business in the third quarter of this year, seeing its market share growing to 64.9 percent to leave South Korea’s Samsung Electronics Co, the No. 2 supplier, further behind, Taipei-based TrendForce Corp (集邦科技) said in a report. TSMC posted US$23.53 billion in sales in the July-September period, up 13.0 percent from a quarter earlier, which boosted its market share to 64.9 percent, up from 62.3 percent in the second quarter, the report issued on Monday last week showed. TSMC benefited from the debut of flagship
A former ASML Holding NV employee is facing a lawsuit in the Netherlands over suspected theft of trade secrets, Dutch public broadcaster NOS said, in the latest breach of the maker of advanced chip-manufacturing equipment. The 43-year-old Russian engineer, who is suspected of stealing documents such as microchip manuals from ASML, is expected to appear at a court in Rotterdam today, NOS reported on Friday. He is accused of multiple violations of the sanctions legislation and has been given a 20-year entry ban by the Dutch government, the report said. The Dutch company makes machines needed to produce high-end chips that power
Taiwan would remain in the same international network for carrying out cross-border payments and would not be marginalized on the world stage, despite jostling among international powers, central bank Governor Yang Chin-long (楊金龍) said yesterday. Yang made the remarks during a speech at an annual event organized by Financial Information Service Co (財金資訊), which oversees Taiwan’s banking, payment and settlement systems. “The US dollar will remain the world’s major cross-border payment tool, given its high liquidity, legality and safe-haven status,” Yang said. Russia is pushing for a new cross-border payment system and highlighted the issue during a BRICS summit in October. The existing system
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