Taiwan's key stock index posted its biggest drop in two weeks, led by VIA Technologies Inc (
The TWSE Index dropped 112.17, or 2.6 percent, to 4176.93, its biggest one-day percentage drop since Aug. 24. Five stocks fell for every one that rose. The total value of trade today was NT$32.67 billion (US$942 million), up from NT$27 billion yesterday, though more than 50 percent below this year's average daily trade.
"Clearly Intel is determined to stop what it sees as patent violations and is not prepared to allow VIA an easy ride to dominance as happened in 1999," said Ben Akrigg, who helps manage about US$2.5 billion in Asian stocks outside of Japan at Morley Fund Management in Singapore.
Stocks also fell after two US Federal Reserve Bank presidents said the US economy is likely to recover at a slower rate than anticipated. The US is Taiwan's biggest export market, buying more than a fifth of the nation's exports.
VIA Technologies dropped NT$7, or 6.9 percent, to NT$94, down 55 percent in the last six months. There is concern the chipset seller may lose a lawsuit Intel Corp filed in a US court last week. Intel said VIA infringed its Pentium 4 microprocessor patents.
Cathay Life Insurance Ltd (
Computer parts makers declined on concern demand remains muted for their products because of slow global growth, high inventories and a drop in spending by companies and customers.
International Data Corp said last week computer shipments will fall this year by 1.6 percent from last year.
Acer Inc (宏電), a computer maker, fell NT$0.90, or 6.7 percent, to NT$12.55. Asustek Computer Inc (華碩電腦), Taiwan's biggest motherboard maker, fell NT$2, or 1.5 percent, to NT$130. Compal Electronics Inc (仁寶電腦), a notebook computer maker, fell NT$0.10, or 0.3 percent, to NT$32.40. Hon Hai Precision Industry Ltd (鴻海精密), which makes everything in a computer except chips, fell NT$0.50, or 0.4 percent, to NT$112.50. Quanta Computer Inc (廣達電腦), Taiwan's biggest notebook computer maker, fell NT$2.50, or 3.1 percent, to NT$77. Yageo Corp (國巨), the biggest maker of parts that control the flow of electricity in computer and mobile phone circuits, fell NT$1.50, or 6.6 percent, to NT$21.30.
Chipmakers fell after the widely watched Philadelphia Stock Exchange Semiconductor Index, a price-weighted index of 16 companies involved in the design and manufacture of chips, fell 0.9 percent yesterday and is down 12 percent this year.
CELEBRATION: The PRC turned 75 on Oct. 1, but the Republic of China is older. The PRC could never be the homeland of the people of the ROC, Lai said The People’s Republic of China (PRC) could not be the “motherland” of the people of the Republic of China (ROC), President William Lai (賴清德) said yesterday. Lai made the remarks in a speech at a Double Ten National Day gala in Taipei, which is part of National Day celebrations that are to culminate in a fireworks display in Yunlin County on Thursday night next week. Lai wished the country a happy birthday and called on attendees to enjoy the performances and activities while keeping in mind that the ROC is a sovereign and independent nation. He appealed for everyone to always love their
FIVE-YEAR WINDOW? A defense institute CEO said a timeline for a potential Chinese invasion was based on expected ‘tough measures’ when Xi Jinping seeks a new term Most Taiwanese are willing to defend the nation against a Chinese attack, but the majority believe Beijing is unlikely to invade within the next five years, a poll showed yesterday. The poll carried out last month was commissioned by the Institute for National Defense and Security Research, a Taipei-based think tank, and released ahead of Double Ten National Day today, when President William Lai (賴清德) is to deliver a speech. China maintains a near-daily military presence around Taiwan and has held three rounds of war games in the past two years. CIA Director William Burns last year said that Chinese President Xi Jinping
MAKING PROGRESS: Officials and industry leaders who participated in a defense forum last month agreed that Taiwan has the capabilities to work with the US, the report said Taiwan’s high-tech defense industry is to enhance collaboration with the US to produce weapons needed for self-defense, the Ministry of National Defense said in a report to the Legislative Yuan. Deputy Minister of National Defense Hsu Yen-pu (徐衍璞) discussed building regional and global industry alliances with US partners at the US-Taiwan Defense Industry Conference in Philadelphia held from Sept. 22 to Tuesday last week, the ministry said in the declassified portion of the report. The visit contributed to maintaining bilateral ties, facilitated Taiwan’s efforts to acquire weapons and equipment, and strengthened the resilience of the two nation’s defense industries, it said. Taiwan-US ties
CONCERNS: Allowing the government, political parties or the military to own up to 10 percent of a large media firm is a risk Taiwan cannot afford to take, a lawyer said A Chinese Nationalist Party (KMT) legislator has proposed amendments to allow the government, political parties and the military to indirectly invest in broadcast media, prompting concerns of potential political interference. Under Article 1 of the Satellite Broadcasting Act (衛星廣播電視法), the government and political parties — as well as foundations established with their endowments, and those commissioned by them — cannot directly or indirectly invest in satellite broadcasting businesses. A similar regulation is in the Cable Radio and Television Act (有線廣播電視法). “The purpose of banning the government, political parties and the military from investing in the media is to prevent them from interfering
RSS