Taiwan stocks fell, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after a chip-equipment trade association said orders as a ratio of sales fell in North America in July to the lowest since March.
The TAIEX declined 31.47, or 0.6 percent, to 4887.79. More than three stocks fell for every two that rose. The total value of trade was NT$46.76 billion (US$1.38 billion).
TSMC, whose US-traded shares fell 6.8 percent to US$9.33 yesterday, dropped NT$1.5, or 2.8 percent, to NT$53.
"The outlook for orders is very unclear, so investors are very cautious about the third and fourth quarters," said Kevin Hsiao (蕭正義), who manages NT$580 million (US$17 million) in stocks at President Investment Trust Corp (統一投信).
President Chain Store Corp (統一超商) rose NT$3.50, or 6.4 percent, to NT$58 after reports said that US-based 7-Eleven Inc selected Taiwan's biggest convenience store operator to run 7-Eleven stores in Beijing.
Union Bank of Taiwan (聯邦銀行) rose NT$0.10, or 1.6 percent, to NT$6.20. Morgan Stanley and Union Bank will form a joint venture to buy bad loans from Union Bank and other lenders.
‘TOO TIRED’: The former mayor’s political party said that he had been questioned for nearly 19 hours, so he declined to be questioned at night, as he felt exhausted Taiwan People’s Party (TPP) Chairman Ko Wen-je (柯文哲) was arrested early yesterday morning after being questioned by prosecutors over his alleged role in a corruption scandal concerning the Core Pacific City redevelopment project during his tenure as Taipei mayor. The arrest was made after Ko refused to be questioned at night and attempted to leave the prosecutors’ office, the Taipei District Prosecutors’ Office said. Prosecutors were worried that he would collude with others involved in the case to make false statements if they allowed him to leave, so they issued an order to arrest him, the office said. Ko yesterday sought a court
ECONOMIC RESILIENCE: Only 11.4 percent of Taiwan’s overseas investments last year were in China, and businesses are dispersing their investments elsewhere, Lai said China’s ambition to annex Taiwan is based on a desire to change the rules-based international order, rather than a desire for territorial gains, President William Lai (賴清德) said in an interview. During an appearance on the talk show The View With Catherine Chang, aired last night, Lai said China aimed to achieve hegemony, and that peace and stability in the Taiwan Strait was an issue of worldwide concern. During the interview, Lai also discussed his “four-pillar plan” for peace and prosperity, which he first outlined in an article published by the Wall Street Journal on July 4 last year. That
‘REGRETTABLE’: TPP lawmaker Vivian Huang said that ‘we will continue to support Chairman Ko and defend his innocence’ as he was transferred to a detention facility The Taipei District Court yesterday ruled that Taiwan People’s Party (TPP) Chairman Ko Wen-je (柯文哲) be detained and held incommunicado over alleged corruption dating to his time as mayor of Taipei. The ruling reversed a decision by the court on Monday morning that Ko be released without bail. After prosecutors on Wednesday appealed the Monday decision, the High Court said that Ko had potentially been “actively involved” in the alleged corruption and ordered the district court to hold a second detention hearing. Ko did not speak to reporters upon his arrival at the district court at about 9:10am yesterday to attend a procedural
Thirty Taiwanese firms, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and ASE Technology Holding Co (日月光投控), yesterday launched a silicon photonics industry alliance, aiming to accelerate the medium’s development and address the energy efficiency of artificial intelligence (AI) devices like data centers. As the world is ushering in a new AI era with tremendous demand for computing power and algorithms, energy consumption is emerging as a critical issue, TSMC vice president of integrated interconnect and packaging business C.K. Hsu (徐國晉) told a media briefing in Taipei. To solve this issue, it is essential to introduce silicon photonics and copackaged optics (CPO)
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