■ TAIEX falls on oil price hike
Share prices closed 0.83 percent lower yesterday, as exporters such as Hon Hai Precision Industry Co (鴻海精密) fell after crude oil prices rose, raising concern that production costs would rise and overseas consumers would have less to spend. The TAIEX fell 55.04 points to the day's low of 6,631.51, on turnover of NT$75.59 billion (US$2.33 billion). Hon Hai Precision, the nation's largest electronics exporter, dropped 1.7 percent to NT$206. Asia Optical Co (亞光), which supplies lenses used in digital cameras, fell after Citigroup Inc cut its price target, citing a disappointing outlook for this year. It plunged 6.9 percent to NT$155.
■ Chi Mei plans new China plant
Chi Mei Optoelectronics Corp (奇美電子) plans to build its second factory in China to make liquid-crystal display modules. "We are planning a second module plant in China to meet rising demand and Shenzhen is one of the possible locations we would consider," Eddie Chen (陳彥松), a company spokesman said yesterday. "The timetable and investment amount haven't been finalized." The firm may build the factory in Shenzhen, where many LCD-TV makers are located, the Chinese-language Economic Daily News reported yesterday, citing Chi Mei chairman Liao Chin-hsiang (廖錦祥).
■ NT dollar loses ground
The New Taiwan dollar traded lower against its US counterpart on the Taipei foreign exchange market yesterday, declining NT$0.083 to close at NT$32.483. Trading during the day totaled US$977 million.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) halted shipments to a customer this month after its semiconductors were sent to China’s Huawei Technologies Co (華為), potentially breaching US sanctions, a government official said. The US slapped sanctions on Huawei in 2019, and expanded them the following year, over fears its technology could be used for Beijing’s espionage operations. The restrictions prevent TSMC from selling semiconductors to Huawei. However, TSMC discovered on Oct. 11 that chips made for a “specific customer” had ended up with the Chinese company, a Taiwanese official with knowledge of the incident said on the condition of anonymity. TSMC “immediately activated
US SANCTIONS: The Taiwan tech giant has ended all shipments to China-based Sophgo Technologies after one of their chips was discovered in a Huawei phone Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) suspended shipments to China-based chip designer Sophgo Technologies Ltd (算能科技) after a chip it made was found on a Huawei Technologies Co (華為) artificial intelligence (AI) processor, according to two people familiar with the matter. Sophgo had ordered chips from TSMC that matched the one found on Huawei’s Ascend 910B, the people said. Huawei is restricted from buying the technology to protect US national security. Reuters could not determine how the chip ended up on the Huawei product. Sophgo said in a statement on its Web site yesterday that it was in compliance with all laws
TECH TITANS: Nvidia briefly overtook Apple again on Friday after becoming the world’s largest company for a short period in June, as Microsoft fell to third place Nvidia Corp dethroned Apple Inc as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence (AI) chips. Nvidia’s stock market value briefly touched US$3.53 trillion, slightly above Apple’s US$3.52 trillion, London Stock Exchange Group data showed. Nvidia ended the day up 0.8 percent, with a market value of US$3.47 trillion, while Apple’s shares rose 0.4 percent, valuing the iPhone maker at US$3.52 trillion. In June, Nvidia briefly became the world’s most valuable company before it was overtaken by Microsoft Corp and Apple. The tech trio’s market capitalizations have been
Shares of Starlux Airlines Co (星宇航空) surged more than 53 percent on its debut on the Taiwan stock exchange yesterday. Starlux shares closed up 53.75 percent at NT$30.75 from its initial public offering price of NT$20 after retreating in late trading from a 60 percent rise. China Airlines Ltd (CAL, 中華航空) rose 0.90 percent to close at NT$22.35, while EVA Airways Corp (長榮航空) gained 0.40 percent to close at NT$37.70. In Taiwan, a newly listed stock is allowed to go beyond the 10 percent maximum increase or decline in its first five trading sessions. At the listing ceremony, Starlux chairman Chang Kuo-wei (張國煒) said
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