Tue, Jan 29, 2019 page11

• Taiwan Business Quick Take

  • Staff writer, with CNA
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  STOCK MARKETS

  Shares break 10,000

  Local shares continued momentum from the previous two sessions to close higher yesterday, breaching 10,000 points for the first time since Dec. 5. The TAIEX closed up 43.72 points, or 0.44 percent, at 10,013.33, on turnover of NT$92.609 billion (US$3.01 billion). Foreign institutional investors bought a net NT$6.21 billion, Taiwan Stock Exchange data showed. The market closed higher than the quarterly moving average of 9,770 points and the monthly moving average of 9,746 points, analysts said, adding that if turnover increases, the market is expected to continue rising until it closes for the Lunar New Year holiday tomorrow.

  CHIPMAKERS

  MediaTek to invest in fund

  Mobile phone chip designer MediaTek Inc (聯發科) yesterday received approval from the Investment Commission to invest US$44.9 million in a Chinese investment arm and new technology fund. The company’s investment caught the attention of commission members yesterday, as it is unusual for a chipmaker to tap into the fund industry. MediaTek would attempt to gain a clearer picture of trends in global technology by investing in Chinese technology start-ups, a move considered acceptable, commission spokesperson Huang Ho-ting (黃荷婷) said. The commission would monitor whether MediaTek’s Chinese investments adversely affect Taiwan, Huang said.

  AUTOPARTS

  Actron to ship MOSFETs

  Actron Technology Corp (朋程), an automotive electronic diode supplier, is expected to start shipping high-efficiency diodes, ultra-high-efficiency diodes and automotive MOSFETs this year, the Chinese-language Commercial Times reported yesterday, citing Actron chairman Lu Ming-kuang (盧明光). MOSFETs are transistors that can change conductivity with the amount of applied voltage, and can be used to amplify or switch electronic signals. Actron revenue is forecast to increase by 10 percent this year from last year and annual revenue could increase to NT$10 billion in five years, the paper quoted Lu as saying. Revenue last year fell 2.03 percent year-on-year to NT$3.59 billion.

  ELECTRONICS

  Pegatron hosts pricey ‘weiya’

  Key iPhone assembler Pegatron Corp (和碩) allocated more than NT$90 million to reward the 7,500 employees who attended its annual year-end banquet, or weiya (尾牙), on Sunday, with those who did not win any of the major prizes still receiving a NT$12,000 cash prize. This year’s top prize was a car worth NT$800,000, which was won by Pegatron chairman Tung Tzu-hsien (童子賢), while there were a number of cash prizes, including 10 each for NT$200,000, NT$250,000 and NT$300,000, as well as 30 for NT$100,000. The company reported consolidated revenue of NT$1.34 trillion last year, the fifth consecutive year revenue has passed NT$1 trillion.

  ECONOMY

  M1B grows 5.69%

  Last month’s M1B — a measure of the money in circulation — grew 5.69 percent year-on-year, accelerating from a 5.09 percent increase in November, while M2 — which includes the M1B, time deposits, foreign-currency deposits and mutual funds — saw annual growth slow to 3.07 percent from 3.09 percent due to the outflow of net foreign capital, the central bank said in a statement on Thursday last week. Last year, the average annual growth rate was 5.32 percent for M1B and 3.52 percent for M2, the central bank said.
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