EQUITIES
TAIEX tails falling US tech
The TAIEX yesterday moved sharply lower, more than 100 points, as investors took cues from losses suffered by tech stocks on the US markets to cut their holdings in electronics shares, while non-tech stocks came under pressure throughout the session. The selling reflected caution as the main board moved closer to the critical level of 13,000 points, where high technical hurdles prompted investors to pocket recent gains amid fear of further volatility, dealers said. By the end of the session, the TAIEX had fallen 104.02 points, or 0.8 percent, to 12,872.74 on turnover of NT$186.806 billion (US$6.37 billion). Foreign institutional investors sold a net NT$9.87 billion shares on the main board, Taiwan Stock Exchange data showed.
TECHNOLOGY
Stadium gets E Ink displays
E Ink Holdings Inc (元太科技), the world’s sole supplier of e-paper displays for e-readers and electronic shelf labels, yesterday said that it collaborated with Rakuten Kobo Inc and e-reader maker Netronix Inc (振曜科技) to add e-paper display applications to the Taoyuan International Baseball Stadium. Hallways leading to seating areas have two 32-inch e-paper displays, in the shape of oversized e-readers, that show information about the playing teams, the company said.
ELECTRIC SCOOTERS
Sales goal for 2024 urged
Smart Mobility Association Taiwan (台灣智慧移動產業協會) members, including Gogoro Inc (睿能創意), yesterday urged the government to set a sales goal of 1 million electric scooters by 2024. It would keep the government on track to reach its target of having electric scooter sales make up 35 percent of new scooter sales by 2030, the association said, adding that electric scooter sales have so far totaled 400,000 units.
PHARMACEUTICALS
Coland to delist from bourse
Coland Holdings Ltd (康聯控股), which develops and distributes pharmaceuticals, is to suspend trading of its shares on the Taiwan Stock Exchange from Oct. 22, when a merger would make the company a wholly owned subsidiary of Oceanic World Sub Corp, the exchange said yesterday. Coland said that it would delist its shares on the bourse from Oct. 30. In July, China-based Coland decided to go private and reconfigure its operational structure, after the firm’s business in China fared worse than expected.
ELECTRONICS
FIT Hon Teng spurs start-ups
FIT Hon Teng Ltd (鴻騰), a Hon Hai Precision Industry Co (鴻海) subsidiary, on Tuesday announced the creation of a US$74 million venture fund in China. The goal of the fund is to engage in new investments and promote new technology development, an announcement posted on the company’s Web site said. China-based Shenzhen Capital Group Co (深圳市創新投資集團) would provide 40 percent of the backing needed for the venture fund.
FOOD DELIVERY
Foodpanda enters Japan
Delivery Hero SE’s Foodpanda yesterday launched operations in Japan, expanding its Asian footprint into the world’s No. 3 economy. The first phase of the company’s launch would introduce meal delivery services in six cities, including Kobe, Yokohama and Nagoya, Foodpanda’s Asia Pacific CEO Jakob Angele told Bloomberg TV. The firm would initially invest 20 million euros (US$23.5 million) in the effort, he said. Japan’s food delivery market is at a nascent stage compared with more mature markets like Taiwan and Hong Kong, Angele said.
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
‘FAILED EXPORT CONTROLS’: Jensen Huang said that Washington should maximize the speed of AI diffusion, because not doing so would give competitors an advantage Nvidia Corp cofounder and chief executive officer Jensen Huang (黃仁勳) yesterday criticized the US government’s restrictions on exports of artificial intelligence (AI) chips to China, saying that the policy was a failure and would only spur China to accelerate AI development. The export controls gave China the spirit, motivation and government support to accelerate AI development, Huang told reporters at the Computex trade show in Taipei. The competition in China is already intense, given its strong software capabilities, extensive technology ecosystems and work efficiency, he said. “All in all, the export controls were a failure. The facts would suggest it,” he said. “The US
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
French President Emmanuel Macron has expressed gratitude to Hon Hai Precision Industry Co (鴻海精密) for its plan to invest approximately 250 million euros (US$278 million) in a joint venture in France focused on the semiconductor and space industries. On his official X account on Tuesday, Macron thanked Hon Hai, also known globally as Foxconn Technology Group (富士康科技集團), for its investment projects announced at Choose France, a flagship economic summit held on Monday to attract foreign investment. In the post, Macron included a GIF displaying the national flag of the Republic of China (Taiwan), as he did for other foreign investors, including China-based
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