TAIEX retreats 0.36 percent
The TAIEX took a breather yesterday, falling back from a recent rally driven by the US Federal Reserve’s third round of quantitative easing, dealers said.
Trading volume shrank as some investors stayed on the sidelines amid fears that technical resistance near the 7,800-point mark would slow the market’s advance, they said.
The weighted index closed down 27.96 points, or 0.36 percent, at 7,734.26, after moving between 7,714.43 and 7,757.04, on turnover of NT$93.59 billion (US$3.19 billion).
CSC joins a Dow Jones index
China Steel Corp (CSC, 中鋼), the nation’s largest steelmaker, has been added to the Dow Jones Sustainability Asia-Pacific Index (DJSI Asia-Pacific), making it the first Taiwanese company to be listed on the index under the basic resources category, the company said in a statement yesterday.
The Greater Kaohsiung-based China Steel joins as one of the 154 components of the DJSI Asia-Pacific Index, which the company described as a reflection of its achievements in corporate governance and commitment to sustainable development.
On Monday, flat-panel maker AU Optronics Corp (AUO, 友達) announced it was listed on the Dow Jones Sustainability World Index (DJSI-World) for the third consecutive year. The company said it had been selected as one of 340 components of the DJSI-World this year.
Port design winner announced
Taiwan International Ports Corp (臺灣港務公司) on Monday announced the winner of a design competition for Keelung Port’s new terminal complex and expressed optimism that the new building would become a landmark of the port city.
The joint design submitted by Los Angeles-based Neil M. Denari Architects and Taiwanese architectural firm Fei and Cheng Associates (宗邁建築師事務所) beat 31 entries from 12 countries, the company’s Port of Keelung office said.
The office said the total budget for the new complex has been set at NT$6.2 billion. The project will break ground next year and construction of the three-story terminal is expected to be completed in 2015, while work on the complex’s office building is to be finished in 2017, the office said.
Sargent to give talks in Taiwan
Nobel economics laureate Thomas Sargent will deliver two lectures in Taiwan this week that are to touch on the eurozone debt crisis and inflation.
Sargent, who was awarded his Nobel Prize last year, is to give a talk on the “Global Economy under European Debt Crisis” in Taipei tomorrow, the event’s organizers said in a statement.
The next day, the US economist will go to central Taiwan and share his insights on inflation in a speech at Asia University titled “Inflation: New Challenge for Global Economy.”
The 69-year-old economist is a professor of economics at New York University and a senior fellow at Stanford University’s Hoover Institution.
NT dollar drops on intervention
The New Taiwan lost ground against the US dollar yesterday, declining NT$0.061 to close at NT$29.460 after the central bank intervened to support the greenback and help the currency reverse early losses, dealers said.
The continued intervention from the central bank showed the bank’s determination to slow the pace of NT dollar’s appreciation against the greenback in a bid to make Taiwan-made goods more competitive in the global market, they said.
The US unit opened at NT$29.440 and moved between NT$29.25 and NT$29.47 before the close. Turnover totaled US$846 million.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors