TAIEX closes up slightly
The TAIEX closed little changed after profit taking eroded most of its early gains ahead of stiff technical resistance at about the 7,500-point mark, dealers said.
The early gains encouraged many investors to pocket profits as concerns over the global economy continued to affect market sentiment throughout the trading session, they said.
The weighted index closed up 4.23 points, or 0.06 percent, at 7,422.59, after moving between 7,397.80 and 7,442.55 on turnover of NT$83.37 billion (US$2.80 billion).
In yesterday’s trading, the cement sector scored the highest gains among the eight major sectors of the market, finishing up 1 percent.
Housing sales take tumble
Housing sales in New Taipei City (新北市) fell last month for the first time in five months as sales in some districts decreased sharply, according to city government data released on Tuesday.
The number of housing units sold fell 6.7 percent last month from a month earlier to 6,582, data from the city government’s Land Administration Department showed. On a yearly basis, the number marked a 7.2 percent decrease.
The fall was partly caused by a sharp decline in sales in the Lujhou (蘆洲), Zhonghe (中和) and Shulin (樹林) districts, which fell by 28.1 percent, 19.8 percent and 21.4 percent respectively. However, the sharp declines were mitigated by moderate increases in sales in Linkou (林口), Sinjhuang (新莊), Sijhih (汐止) and Tamsui (淡水) districts.
New CSBC chair appointed
Lai Sun-quae (賴杉桂), former -director-general of the Ministry of Economic Affairs’ Small and Medium Enterprise Administration, officially became CSBC Corp, Taiwan (CSBC, 台灣國際造船) chairman yesterday, replacing Paul Tang (譚泰平), the firm said in a statement.
The 66-year-old Tang, who had served as CSBC chairman since December 2010, reached the normal retirement age last year, but was retained by the ministry — the company’s largest shareholder — for one more year.
Under Tang’s leadership the company made a profit of NT$1.74 billion, or NT$2.41 per share, last year, up from NT$1.71 billion, or NT$2.35 per share, recorded in 2010, company statistics showed.
Hon Hai vice president resigns
Hon Hai Group (鴻海集團) yesterday confirmed local media reports that the group vice president Terry Cheng (程天縱) had tendered his resignation, citing health problem.
The group said Cheng was also resigning from his posts as a board director and executive officer at Hong Kong-listed Foxconn International Holdings (FIH, 富士康控股), which is a handset manufacturing arm of Hon Hai Group.
Cheng is not scheduled to leave his current positions until July 31.
Beats acquires MOG assets
Beats Electronics, a unit of Taiwanese handset maker HTC Corp (宏達電), has acquired assets owned by digital music subscription service MOG Inc through subsidiary Daisy LLC, according to an HTC filing with the Taiwan Stock Exchange on Tuesday.
HTC said the US$14 million deal was approved by Beats’ board of directors and the amount “was negotiated by both parties involved.”
HTC declined to comment on the filing or provide further details of the deal.
Taiwan dollar makes ground
The New Taiwan dollar gained ground against the US dollar yesterday, adding NT$0.02 to close at NT$29.866 as improving sentiment toward the global economy drove traders to move their funds out of the greenback, dealers said.
Turnover totaled US$474 million during the trading session.
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
RSS