■ TAIEX up 5.59 points
Share prices closed flat yesterday as profit-taking eroded early gains made on the back of Wall Street's overnight rally, dealers said.
They said year-end window-dressing activities continued to support the local bourse while there appeared to be no immediate impact from the strong earthquake that struck Taiwan on Tuesday evening.
Although some complaints were voiced about difficulties accessing the Internet, dealers said trade was largely unaffected.
The TAIEX closed up 5.59 points at 7,733.18, on turnover of NT$107.51 billion (US$3.29 billion). Decliners led gainers 654 to 516, with 185 stocks unchanged.
■ Gas prices lowered
Formosa Petrochemical Corp (台塑), the nation's second-biggest fuel supplier, lowered gasoline prices for the second time this month, matching a move by rival Chinese Petroleum Corp (中油).
Domestic wholesale gasoline prices fell by NT$0.10 a liter, effective 9am, Mailiao-based Formosa Petrochemical said in a statement yesterday on its Web site.
■ Biomedical park under way
A biomedical park within Hsinchu Science Park (新竹科學園區) will be inaugurated in January 2008, officials from the Science Park Administration said yesterday.
Administration officials said the infrastructure for the biomedical park was currently being put in place, adding that the work was scheduled to be completed by the end of next year.
The park will mainly serve companies in the medical equipment and manufacturing sectors.
An international vaccine producer and a pharmaceutical protein manufacturer have contacted the administration about setting up plants in the park.
■ Fubon not to buy stakes
Goldman Sachs Group Inc and Fubon Financial Holding Co (富邦金控) are not in talks to buy stakes in Chinatrust Financial Holding Co (中信金控), a Chinatrust executive said yesterday, denying a media report.
"Again it's newspaper speculation," Chinatrust executive vice president Jason Wang (王正新) said in a telephone interview.
The Economic Daily News reported that Goldman might join with Fubon to buy part of Chinatrust, but did not cite any source.
Fubon also denied the report.
"There is no such talk, and Goldman didn't approach Fubon," Fubon president Victor Kung (龔天行) said in a phone interview.
Kung said that Fubon had bought some financial shares because of the improving profit outlook for banks. He didn't specify what stocks Fubon had purchased.
■ Evergreen promotes president
Evergreen Marine Corp (長榮海運), operator of Asia's largest container shipping line, will promote president Arnold Wang (王龍雄) to chairman, replacing Chang Kuo-cheng (張國政).
Starting on Monday, Chang will become the first vice chairman of the Evergreen Group, parent of the shipping company, the group said in a statement on Tuesday.
Chang will answer to his father Chang Yung-fa (張榮發), chairman and founder of the Taipei-based group, which controls EVA Airways Corp (長榮航空), the country's second-biggest air carrier. Other interests of the group include hotels and a symphony orchestra.
■ NT dollar down
The NT dollar traded lower against its US counterpart yesterday, declining NT$0.049 to close at NT$32.699 on the Taipei Forex Inc.
Traders said the NT dollar didn't follow gains of other Asian currencies because the trading system was not stable after Tuesday's earthquakes.
Turnover was US$585 million, up from US$476 million the previous day.
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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