TAIEX gains 1.13 percent
Taiwanese shares closed higher yesterday, with the TAIEX increasing 93.42 points, or 1.13 percent, to close at 8,289.98.
The bourse opened at 8,245.86 and traded between 8,313.94 and 8,237.67 during the session.
A total of 4.83 billion shares changed hands on market turnover of NT$146.08 billion (US$4.6 billion).
Gainers outnumbered losers 2,086 to 1,019, with 275 stocks remaining unchanged. Foreign institutional investors were net buyers of NT$10.6 billion in shares.
TSMC plans to hire 3,000
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday said it planned to hire more than 3,000 new engineers this year to cope with capacity expansion and technology development.
The announcement came after handset chip designer MediaTek Inc said it planned to add 10 percent to its workforce this year.
The Hsinchu-based chipmaker plans to hold several recruitment meetings in Hsinchu and Tainan from today through March 20, a company statement said.
Cathay Financial books gain
Cathay Financial Holding Co (國泰金控) said its banking unit booked a gain of NT$6.7 million in a NT$440 million land sale in Taichung, a stock exchange filing showed yesterday.
This news came after Cathay Financial, the nation’s biggest financial services provider, said last Friday that its insurance unit would acquire land and a building in Taipei for NT$960 million.
The company posted a preliminary net profit of NT$11.05 billion last year, compared with a net profit of NT$2.2 billion in 2008.
Nomura increases Asia hiring
Nomura Holdings Inc, Japan’s biggest investment bank, will add as many as 125 people to its fixed-income teams in Asia outside Japan this year as part of a plan to increase revenue from the region by at least 30 percent.
The Tokyo-based lender will focus on expansion in South Korea, Taiwan, China and India, while also hiring in Singapore and Hong Kong, said Jai Rajpal, Asia ex-Japan head of fixed income.
“The focal point is how do we get closer to our clients, especially in Asia, which is a highly fragmented market,” Rajpal said in an interview in Singapore. “The only way to do that is by being local.”
Key forum starts next week
Economists and entrepreneurs from across Asian have been invited to attend the CommonWealth Economic Forum in Taipei on Monday and Tuesday to exchange views on new engines of economic growth in Asia after the global financial crisis.
The two-day event will feature three keynote speakers: former Singaporean deputy prime minister Tony Tan (陳慶炎); Economist executive editor Daniel Franklin; and Taiwan Semiconductor Manufacturing Company (台積電) chairman Morris Chang (張忠謀).
Topics to be discussed at the six sessions include a new development model for the economy; innovation and branding; the rise of Asian enterprises; opportunities and challenges in Greater China’s economic circle; economic cooperation across the Taiwan Strait; and the future of the financial sector.
Local currency gains ground
The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.054 to close at NT$31.755.
A total of US$537 million changed hands during the day’s trading.
The local currency opened at NT$31.809 and fluctuated between NT$31.736 and NT$31.809.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
EARLY TALKS: Measures under consideration include convincing allies to match US curbs, further restricting exports of AI chips or GPUs, and blocking Chinese investments US President Donald Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under former US president Joe Biden to limit Beijing’s technological prowess. Trump officials recently met with their Japanese and Dutch counterparts about restricting Tokyo Electron Ltd and ASML Holding NV engineers from maintaining semiconductor gear in China, people familiar with the matter said. The aim, which was also a priority for Biden, is to see key allies match China curbs the US
NOT TO WORRY: Some people are concerned funds might continue moving out of the country, but the central bank said financial account outflows are not unusual in Taiwan Taiwan’s outbound investments hit a new high last year due to investments made by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other major manufacturers to boost global expansion, the central bank said on Thursday. The net increase in outbound investments last year reached a record US$21.05 billion, while the net increase in outbound investments by Taiwanese residents reached a record US$31.98 billion, central bank data showed. Chen Fei-wen (陳斐紋), deputy director of the central bank’s Department of Economic Research, said the increase was largely due to TSMC’s efforts to expand production in the US and Japan. Investments by Vanguard International
STRUGGLING TO SURVIVE: The group is proposing a consortium of investors, with Tesla as the largest backer, and possibly a minority investment by Hon Hai Precision Nissan Motor Co shares jumped after the Financial Times reported that a high-level Japanese group has drawn up plans to seek investment from Elon Musk’s Tesla Inc to aid the struggling automaker. The group believes the electric vehicle (EV) maker is interested in acquiring Nissan’s plants in the US, the newspaper reported, citing people it did not identify. The proposal envisions a consortium of investors, with Tesla as the largest backer, but also includes the possibility of a minority investment by Hon Hai Precision Industry Co (鴻海精密) to prevent a full takeover by the Apple supplier, the report said. The group is
RSS