TAIEX surges past 7,600 points
The TAIEX closed above 7,600 points yesterday, as bargain hunters pushed the index back into positive territory toward the end of the session, dealers said.
Investors picked up select technology stocks, in particular flat-panel and solar firms offering either better profitability or relatively low valuations, they said.
However, strong selling in many old economy stocks as investors took profit capped the market’s upside, they added.
The weighted index closed up 1.07 points, or 0.01 percent, at the day’s high of 7,600.98, on turnover of NT$89.4 billion (US$3.1 billion).
Intel unveils memory array
US chip giant Intel Corp yesterday said it expected the technology to make a new type of energy- efficient memory chips, or three-dimension (3D) chips, would be ready next year, bringing it one more stop closer to the mass production of the chips.
Intel made the remarks in Taipei after kicking off a US$15-million 3D chip program in collaboration with local research powerhouse Industrial Technology Research Institute (ITRI) in December, last year.
Intel yesterday showcased a series of experimental memory array in Taipei after the research program unveiled around a year ago and set up an Intel lab in Taiwan jointly with the National Taiwan University.
Next year, those memory chips would be tested on mobile devices such as Ultrabooks and tablets, Intel chief technology officer Justin Rattner said.
By creating memory with the new architecture, devices will be able to achieve longer battery life, faster integration of mobile data and improved graphics with higher resolution.
HP sues CPT, Tatung
Hewlett-Packard Co (HP) has accused LCD panel makers Chunghwa Picture Tubes Ltd (CPT, 中華映管) and Tatung Company of America Inc of price-fixing.
The scheme cost HP more than US$1 billion in damages from overcharges, it said in an antitrust complaint filed in San Francisco’s federal court.
HP said in the filing that the two companies and other LCD makers conspired to set prices and restrict output for panels from 1998 to 2006. The company is seeking treble damages, according to the complaint filed on Friday.
iPhone pre-orders start
Taiwan Mobile Co (台灣大哥大) and Far EasTone Telecommunications Co (遠傳電信) yesterday started accepting pre-orders online for the iPhone 5 after Apple Inc said on Monday that the latest version of its smartphone series would hit Taiwan on Friday next week.
Pre-orders on Chunghwa Telecom Co’s (中華電信) Web site is also set to begin today.
Tax agreement signed
Taiwan and Thailand on Friday signed a pact to prevent double taxation and income tax evasion.
The two sides first signed an agreement on July 9, 1999, but Bangkok failed to have it approved and signed into law.
The amended version of the agreement was finally passed in June this year at a meeting of Thailand’s Cabinet. The agreement will become effective in the near future after both sides exchange official letters, officials said.
NT edges up against US dollar
The New Taiwan dollar edged up NT$0.005 to close at NT$29.116 against the US dollar. Turnover was US$678 million.
NOTABLE SHIFT: By 2030, 50% of all laptops would be assembled in Southeast Asia, while Taiwan would still mostly focus on research and development, a report said Global laptop and desktop computer supply chains are expected to shift significantly away from China in the next 10 years, a Market Intelligence & Consulting Institute (MIC, 產業情報研究所) report said. By 2030, only 40 percent of global laptop production would remain in China, said the report, which was released on Thursday. “The reshuffling of the global supply chain will be one of the most important trends in the next 10 years,” the institute said in the report. “In the long run, key component makers will follow laptop assemblers in moving out of China.” The Taipei-based institute predicted most key component makers
Yageo Corp (國巨), the world’s third-largest supplier of multilayer ceramic capacitors, has formed a strategic alliance with Hon Hai Precision Industry Co (鴻海精密) to develop key electronic components for electric vehicles and digital healthcare, it said yesterday. The alliance is to help Yageo boost its revenue from high-end components for vehicles and industrial, medical and aerospace devices, as well as those used in 5G and Internet-of-Things devices, the company said. The companies signed the strategic alliance agreement at Yageo’s headquarters in New Taipei City’s Sindian District (新店). Their cooperation is to start this quarter, the companies said in a joint statement. “Through the cooperation
SUPPLY CONSTRAINTS: The transferred orders might not provide an immediate revenue boost given local chipmakers’ high utilization rates, a senior analyst said Shares of local contract chipmakers yesterday rose as much as the 10 percent daily limit, as investors bet on orders being transferred from Semiconductor Manufacturing International Corp (SMIC, 中芯國際) after the US imposed export restrictions on the Chinese chipmaker. United Microelectronics Corp (UMC, 聯電) shares soared 10 percent to close at NT$27.5 as 380 million shares changed hands on the Taiwan Stock Exchange. UMC is the world’s No. 3 foundry by revenue, followed by SMIC, according to data from market researcher TrendForce Corp (集邦科技). UMC has product and customer portfolios similar to those of SMIC, TrendForce said, adding that UMC offers 14-nanometer and
‘IMPORTANT MILESTONE’: The firm expects to launch the generic of Revlimid in the US after March 2022. It has already launched the product in some European countries Lotus Pharmaceutical Co Ltd (美時化學製藥) has received tentative approval from the US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA) for lenalidomide, the company said in a statement on Friday. The ANDA approval is for 2.5mg, 5mg, 10mg, 20mg and 25mg capsules of lenalidomide, which is a generic version of blood cancer drug Revlimid developed by Celgene Corp. It is the first product fully developed and manufactured in Lotus’ facilities in Taiwan. Lotus expects to launch the product in the US — based on its patent litigation settlement with Celgene last year — some time after March