Shares of transportation-related stocks rose on the government’s mega-plan to develop the area surrounding Taiwan Taoyuan International Airport into an aerotropolis.
The transportation sub-index climbed 2.12 percent to close at 78.44 points yesterday, outperforming the benchmark TAIEX’s 0.62 percent rise, Taiwan Stock Exchange data showed.
“The transportation stocks with an asset story in the Taoyuan area may get the most benefit from the Taoyuan Aerotropolis Project,” Capital Securities Corp (群益證券) said in a daily research note yesterday.
Shares of Farglory Free Trade Zone Investment Holding Co (遠雄自貿港投資控股), an air cargo and warehouse unit of Farglory Group (遠雄集團), which plans to develop a free-trade zone in Taoyuan, rose by the daily limit of 7 percent to NT$21.65.
Evergreen International Storage & Transport Corp (長榮國際儲運) — a subsidiary of Evergreen Group (長榮集團), which is engaged in cargo transportation, warehousing, oil distribution and passenger transportation business — also rose by the daily limit to NT$20.85.
Three major listed airlines in Taiwan saw shares soar yesterday: China Airlines Ltd (CAL, 中華航空), Taiwan’s largest international carrier in terms of fleet size, gained 3.81 percent to NT$12.25; EVA Airways Corp (長榮航空) rose 2.69 percent to NT$17.2; and TransAsia Airways Corp (復興航空) increased 3.86 percent to NT$14.8.
Meanwhile, the project may bring more people to the area and spur business at Novotel Taipei Taoyuan International Airport (華航諾富特桃園機場飯店), the airline’s subsidiary, Liu said.
In the long-term, Liu said he expected real-estate costs in the area to go up because of the project.
On Tuesday, Minister of Transportation and Communications Mao Chi-kuo (毛治國) said the Cabinet had approved the ministry’s plan to invest NT$336.6 billion (US$11.46 billion) in the Taoyuan Aerotropolis (桃園航空城) project, with the private sector injecting NT$126.4 billion.
The project, which is scheduled to be completed by 2030, includes the expansion of Taiwan Taoyuan International Airport, as well as the construction of a new hotel, international convention center and residential buildings. It is expected to generate NT$2.3 trillion in economic benefits and create thousands of jobs, the ministry said.
In the Global Competitiveness Report 2012-2013, released by the World Economic Forum (WEF) earlier this month, Taiwan saw its overall infrastructure quality ranking slip to No. 27 this year among 144 countries, from No. 25 last year. Within the infrastructure category, Taiwan’s ranking in air transport infrastructure improved to 44th place from 51st and its railway, roads and ports infrastructure rankings moved up to 11th, 21st and 29th place, from 12th, 25th and 35th.
Additional reporting by Kevin Chen
Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. He credits Salvadoran President Nayib Bukele’s decision to bank on bitcoin three years ago with changing his life. “Before I was unemployed... And now I have my own business,” said the 39-year-old businessman, who uses an app to charge for rides in bitcoin and now runs his own car rental company. Three years ago the leader of the Central American nation took a huge gamble when he put bitcoin
TECH RACE: The Chinese firm showed off its new Mate XT hours after the latest iPhone launch, but its price tag and limited supply could be drawbacks China’s Huawei Technologies Co (華為) yesterday unveiled the world’s first tri-foldable phone, as it seeks to expand its lead in the world’s biggest smartphone market and steal the spotlight from Apple Inc hours after it debuted a new iPhone. The Chinese tech giant showed off its new Mate XT, which users can fold three ways like an accordion screen door, during a launch ceremony in Shenzhen. The Mate XT comes in red and black and has a 10.2-inch display screen. At 3.6mm thick, it is the world’s slimmest foldable smartphone, Huawei said. The company’s Web site showed that it has garnered more than
Demand for artificial intelligence (AI) chips should spur growth for the semiconductor industry over the next few years, the CEO of a major supplier to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said, dismissing concerns that investors had misjudged the pace and extent of spending on AI. While the global chip market has grown about 8 percent annually over the past 20 years, AI semiconductors should grow at a much higher rate going forward, Scientech Corp (辛耘) chief executive officer Hsu Ming-chi (許明琪) told Bloomberg Television. “This booming of the AI industry has just begun,” Hsu said. “For the most prominent
PARTNERSHIPS: TSMC said it has been working with multiple memorychip makers for more than two years to provide a full spectrum of solutions to address AI demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it has been collaborating with multiple memorychip makers in high-bandwidth memory (HBM) used in artificial intelligence (AI) applications for more than two years, refuting South Korean media report's about an unprecedented partnership with Samsung Electronics Co. As Samsung is competing with TSMC for a bigger foundry business, any cooperation between the two technology heavyweights would catch the eyes of investors and experts in the semiconductor industry. “We have been working with memory partners, including Micron, Samsung Memory and SK Hynix, on HBM solutions for more than two years, aiming to advance 3D integrated circuit
RSS