Taiwan's key stock index posted its biggest drop in a month, led by United Microelectronics Corp (UMC,
The TAIEX fell 161.49, or 3 percent, to 5,244.05, its biggest one-day fall in percentage terms since April 2. Seven stocks fell for every one that rose. Trade at NT$62.4 billion (US$1.9 billion) was the ninth consecutive day the index has traded below this year's daily average of NT$84.6 billion. The index dropped 3.2 percent in the week.
"The consensus is that the second quarter will be the bottom for semiconductor makers but the recovery will be very mild," said Chang Wei-Min, head of research at ING Barings in Taiwan.
UMC fell NT$2.50, or 4.6 percent, to NT$51.50, its biggest one-day fall in percentage terms since March 1, after John Hsuan (
Taiwan Semiconductor Manu-facturing Co (TSMC,
World Wiser Electronics Inc (欣興) fell NT$3.40, or 6.9 percent, to NT$45.60, its biggest one-day fall in percentage terms since March 19, after it said it will pay NT$36.4 billion (US$1.1 billion) in shares and assumed debt to buy three rivals in an effort to become one of the top three printed circuit board makers. World Wiser said yesterday it will issue about 600 million new shares and assume the NT$7 billion of debts to takeover Unicap Electronics Industrial Corp (耀文) and two closely held companies, Bestmult Industry Co (恆業) and UniMicron Technology Co (群策). The new company will be called UniMicron Corp (聯耀). Unicap rose NT$1.70, or 6.6 percent, to NT$27.30.
Computer-memory chipmakers declined. Thomas Weisal Partners, a brokerage, said the spot price of the 64-megabyte dynamic random access memory (DRAM) chip fell 1 percent to US$1.99 yesterday. The spot price of the 128-megabyte DRAM fell 0.8 percent to US$3.86. Prices of the 64-megabyte DRAM were US$2.18 and the 128-megabyte DRAM were US$4.19 last week.
Mosel Vitelic Inc (茂矽電子) fell NT$0.90, or 3.8 percent, to NT$23. Powerchip Semiconductor Corp (力晶半導體) fell NT$1.50, or 4.6 percent, to NT$30.80. ProMos Technologies Inc (茂德科技) fell NT$1.70, or 4.8 percent, to NT$34.10. Winbond Electronics Corp (華邦電子) fell NT$2, or 4.9 percent, to NT$38.80.
WHAT WAS ALL THAT FOR? Jaw Shaw-kong said that Cheng Li-wen had pushed for more drastic cuts and attacked him, just for the outcome to be nearly identical to his bill The legislature yesterday passed a supplementary budget bill to fund the purchase of separate packages of US military equipment, with the combined amount of spending capped at NT$780 billion (US$24.8 billion). The Chinese Nationalist Party (KMT) and Taiwan People’s Party (TPP) used their legislative majority to pass the bill, which runs until 2033 and has two main funding provisions. One was for NT$300 billion of arms sales already approved by the US for Taiwan on Dec. 17 last year, the other was for NT$480 billion for another arms package expected to be announced by Washington. The bill, which fell short of the NT$1.25
Taiwanese shares yesterday posted a record daily gain of more than 1,700 points to close above 40,000 points for the first time, led by large-cap semiconductor stocks such as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and MediaTek Inc (聯發科) amid optimism about the artificial intelligence (AI) boom. The TAIEX ended up 1,778.51 points, or 4.57 percent, at 40,705.14 after moving between 39,228.39 and 40,755.52, while the New Taiwan dollar closed up NT$0.038 at NT$31.610 per US dollar, ending three consecutive sessions of declines. Turnover on the main board totaled NT$1.007 trillion (US$31.9 billion), with foreign institutional investors buying a net NT$66.98 billion
A former television news host and six military personnel — active and retired — have been indicted on espionage charges, Kaohsiung prosecutors said yesterday. Lin Chen-you (林宸佑), a former CTi News host and YouTuber, last year allegedly made videos at the direction of a Chinese agent criticizing the Democratic Progressive Party’s recall campaign, the Ciaotou District Prosecutors’ Office told a news conference in Kaohsiung. He allegedly received 4,325 tether coins for the videos from an unidentified person surnamed Huang (黃), believed to be an agent of a hostile foreign power, they said. Lin, also known as Ma Te (馬德), has a show named
NON-INTERFERENCE: The US called Taiwan a trusted and capable partner, while an African Union leader urged nations to reflect on respect for sovereign choices Taiwan is a “trusted and capable” partner of the US and Taipei’s global relationships, including with Eswatini, provide significant benefits, the US Department of State said of President William Lai’s (賴清德) trip to the southern African kingdom. Lai arrived in the former Swaziland on Saturday on a surprise visit after a planned trip last month was canceled when Seychelles, Mauritius and Madagascar denied overflight permission for his aircraft due to Chinese pressure. “Taiwan is a trusted and capable partner of the United States and many others, and its relationships around the world provide significant benefits to the citizens of those countries,
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