Taiwan's key stock index fell, led by Quanta Computer Inc (
Taiwan Semiconductor Manu-facturing Co (TSMC,
The TWSE Index fell 5.93, or 0.2 percent, to 3811.20, its third decline in 10 days. The index had risen 11 percent since Oct. 4. The total value of trade was NT$35.6 billion (US$1.03 billion), a quarter less than the six-month daily average of NT$47.4 billion. Within the index, 255 stocks fell and 168 rose.
"After the recent share price rebound, maybe we should focus on the fundamentals again and face the reality that there's no final demand at all and visibility's still very low," said Steven Hsieh, who manages approximately NT$2.5 billion (US$72 million) in stocks at Dresdner Asset Manage-ment Taiwan Ltd.
Computer makers fell on concern anthrax scares in the US will further sap consumer demand for personal computers.
Electronics make up the biggest share of the nation's exports.
Global PC sales dropped 12 percent to 30.6 million units in the third quarter, according to Gartner Inc's Dataquest.
Quanta Computer, the country's biggest notebook computer maker, fell NT$3.50, or 4.8 percent, to NT$69.50. Asustek Computer Inc (華碩電腦) fell NT$2, or 1.7 percent, to NT$114.50. Hon Hai Precision Industry Co (鴻海精密), which makes everything in a computer except chips, shed NT$4.50, or 3.6 percent, to NT$121.
TSMC rose NT$1.50, or 2.6 percent, to NT$59.50 on optimism the biggest made-to-order chipmaker's profit will rise in the fourth quarter from the preceding quarter. The stock has gained more than a third since Oct. 4.
"Lots of local and foreign institutional investors are returning to the stock because they were underweight before," said Steve Chu, a fund manager at ING CHB Securities & Investment Trust Ltd.
Airline shares rose after the government approved a Ministry of Transportation and Communications proposal to extend to Dec. 25 a plan to provide insurance for airlines to help cover liabilities caused by terrorist acts or acts of war. The plan still requires parliamentary approval. China Airlines Co (
Cathay Life Insurance Co (國泰人壽) fell NT$0.30, or 0.8 percent, to NT$36.30. Taiwan's largest insurer said it agreed to buy Capital Securities Corp (群益證券) and is mulling a bid for United World Chinese Commercial Bank (世華銀行). Capital Securities climbed NT$0.75, or 6.6 percent, to NT$12.05.
China Chemical & Pharmaceutical Co (
Compeq Manufacturing Co (華通電子) fell NT$2.50, or 6.7 percent, to NT$34.60. The maker of printed circuit boards for customers such as Intel Corp and Nokia Oyj said in a statement to the stock exchange sales may trough in the first quarter next year as slowing economic growth and the effects of the Sept. 11 terrorist attacks crimp demand.
Delta Electronics Inc (
A magnitude 7.8 earthquake struck off the southern coast of Mindanao in the Philippines at 7:38am today, prompting the US Tsunami Warning System to issue an alert for neighboring countries, including Taiwan. The system issued a purple alert indicating a "tsunami threat." The potential threat zone includes Taiwan, the Philippines, Papua New Guinea, Yap and Palau. Philippine authorities were assessing the damage from the quake, with the office of civil defense seeking to verifying initial reports that 15 people had been killed and 129 injured in the region, mostly from falling debris. Arlene Hollero, disaster chief of Maasim town in the Philippines' Sarangani Province,
RESILIENCE: Taiwan plays a key role in semiconductors, energy, information infrastructure and advanced manufacturing, AIT Director Raymond Greene said Taiwan’s continued investment in deterrence and resilience remains vital, especially in uncrewed systems and other emerging technologies, American Institute in Taiwan (AIT) Director Raymond Greene said yesterday. Greene made the remarks at the annual National Strategic Summit on Supply Chain Resilience held by the Research Institute for Democracy, Society and Emerging Technology (DSET), a government-backed think tank. As Taiwan last year became the US’ fourth-largest trading partner and supply chain security is becoming more important, cooperation in emerging technologies continues to deepen between the two countries, he said. The US is committed to accelerating innovation, building key infrastructure, strengthening cooperation
The National Chungshan Institute of Science and Technology yesterday showcased its locally developed variants of the Vision 60 robotic patrol dog, which it plans to deploy on the nation’s outlying territories in the South China Sea. The variants were produced under the Joint Lab project — created by the institute and domestic companies — and assembled with domestically produced motors, lenses and artificial intelligence (AI) systems alongside licensed tech from the US, Missile and Rocket Systems Research Division deputy director Jen Kuo-kang (任國光) told the media event at a military base in Taipei’s Dazhi (大直) area. Taiwan has built up its strengths
RIGHT DIRECTION: Taiwan’s efforts to prevent forced labor include a proposal to ‘fully prohibit’ employers from withholding workers’ documents, an official said Taiwan is to establish a mechanism to restrict imports of goods linked to forced labor, the Executive Yuan said yesterday, after the US proposed imposing additional tariffs on Taiwanese goods over labor concerns. “The Ministry of Labor and the Ministry of Economic Affairs are to establish an interministerial review procedure,” Executive Yuan spokesperson Michelle Lee (李慧芝) said at a news briefing in Taipei. “The government is to use the Foreign Trade Act [貿易法] as the legal basis to restrict imports of goods produced with forced labor” and bring its supply chain governance more in line with international standards on human rights, resilience
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