TAIEX dips on high-tech sell-off
The stock market extended its losses yesterday as investors sold Apple Inc supply chain stocks after a local media report said the US consumer electronics giant was cutting its orders, dealers said.
Concern over the eurozone debt crisis also lingered despite a pledge by Italian Prime Minister Silvio Berlusconi to step down, lifting Wall Street overnight, they said.
The TAIEX closed down 38.93 points, or 0.51 percent, at the day’s low of 7,561.86 and off a high of 7,654.15, on turnover of NT$82.81 billion (US$2.75 billion).
Asustek revenue up 16%
Asustek Computer Inc (華碩), the world’s No. 5 PC brand, posted unconsolidated revenue of NT$31.3 billion last month, flat from the prior month, but up 16 percent from last year.
Total unconsolidated sales for the first 10 months of the year advanced 5.68 percent from last year to NT$263.24 billion, according to a company statement yesterday.
Pegatron Corp (和碩) and Unihan Corp (永碩) — Asustek’s manufacturing arms — reported combined revenues of NT$56.62 billion last month, up 5.3 percent from September and a jump of 45 percent from a year ago.
Their total sales for the first 10 months of the year rose 10.3 percent to NT$394.56 billion.
Chimei revenues fall 3.2%
Chimei Innolux Corp (奇美電子), the nation’s biggest LCD panel maker, yesterday said revenues dropped 3.2 percent to NT$40.16 billion last month from NT$41.47 billon in September, joining local rivals such as AU Optronics Corp (友達光電) in reporting a decline in revenues.
Last month’s sales were the lowest since February’s NT$37.4 billion.
Shipments of LCD panels used in PCs and TVs shrank 11.4 percent month-on-month.
Shipments of flat panels used in tablets and mobile devices expanded 12.5 percent last month to 43.09 million units, from 38.31 million in the previous month.
ITC to probe VIA’s complaint
The US International Trade Commission (ITC) on Tuesday said it had voted to launch an investigation into a complaint filed by Taiwan-based chip designer VIA Technologies Inc (威盛電子) for patent infringement against US-based Apple Inc.
The ITC said the complaint covers three patents related to the functionality of microprocessors used in mobile phones and tablet computers.
According to the complaint, which was filed in September, VIA has asked the ITC to issue orders to ban importation and sale of certain Apple products in the US market.
The commission said it would set a target date for completing the probe within 45 days from the launch of the investigation.
FPCC schedules maintenance
Formosa Petrochemical Corp (FPCC, 台塑石化) plans to shut refinery units in April and October next year to carry out scheduled maintenance, company spokesman Lin Keh-yen (林克彥) said.
The refiner will halt a crude distillation unit, a residual catalytic cracker and a residual desulfurization system at its Mailiao (麥寮) complex in Yunlin County for 40 days in April, Lin said.
A second residue desulfurizer will close in October for 35 days, he said.
The company also plans maintenance at its No. 1 ethylene plant, Lin said. The naphtha cracker may shut in August for 40 to 45 days, he said.
NT dollar gains ground
The New Taiwan rose against the US dollar yesterday, adding NT$0.04 to close at NT$30.066 on turnover of US$472 million.