SEMICONDUCTORS
<strong>Silicon Motion mulls sale</strong>
Silicon Motion Technology Corp (慧榮科技) is exploring a potential sale amid takeover interest, people familiar with the matter have said. The semiconductor company is working with advisers as it holds talks with potential buyers, the people said. Silicon Motion makes NAND flash controllers for solid-state storage devices, its Web site says. It also supplies data centers, and makes specialized industrial and automotive solid-state drives. The company’s American depositary receipts have fallen about 19 percent this year, giving it a market value of US$2.7 billion, although its share price has risen amid the takeover speculation. Founded in 1995
EQUITIES
<strong>US rally spurs investors</strong>
Shares in Taiwan yesterday staged a rebound as investors were encouraged by an overnight rally in semiconductor stocks on US markets and focused on the bellwether electronics sector, dealers said. Buying also extended to old economy stocks, especially in the shipping and commodities sectors, as China began easing COVID-19 lockdowns in major cities, leading to hopes of improved demand, they said. The TAIEX closed up 94.53 points, or 0.56 percent, to 16,993.40. Turnover totaled NT$226.694 billion (US$7.76 billion), with foreign institutional investors buying a net NT$2.13 billion of shares after a net sell of NT$19.41 billion on
EQUITIES
<strong>TAIEX falls 0.62 percent</strong>
The TAIEX yesterday closed lower as market sentiment remained cautious due to lingering concerns over moves by central banks worldwide to tighten monetary policy, dealers said. Selling was seen across the board, focusing particularly on transportation and financial shares, while the bellwether electronics sector was somewhat resilient, they said. Bucking the downturn on the TAIEX, biotechnology stocks attracted buying on a spike in domestically transmitted COVID-19 cases, they added. The TAIEX closed down 105.31 points, or 0.62 percent, at 16,898.87. Turnover totaled NT$228.800 billion (US$7.84 billion), with foreign institutional investors selling a net NT$10.42 billion of shares,
EQUITIES
<strong>TAIEX rebounds 300 points</strong>
The TAIEX yesterday recovered more than 300 points to return above 17,000 points after having fallen below it on Tuesday, but turnover remained relatively low. The TAIEX closed up 310.74 points at 17,301.65. Turnover totaled NT$260.958 billion (US$8.972 billion), with foreign institutional investors selling a net NT$10.09 billion of shares, Taiwan Stock Exchange (TWSE) data showed. However, turnover on the main board remained low at NT$260.958 billion, which included NT$114.87 billion in the electronics sector and NT$57.42 billion in the transportation sector. Of the past 16 trading days, the main board has only had three days when
EQUITIES
<strong>Foreign selling spikes</strong>
Foreign investors last week sold a net NT$83.02 billion (US$2.86 billion) of local shares after selling a net NT$7.2 billion a week earlier, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold NT$45.52 trillion of local shares from the beginning of the year, it said. Last week, the top three shares foreign investors sold were United Microelectronics Corp (聯電), Innolux Corp (群創) and Taiwan Semiconductor Manufacturing Co (台積電), while the top three shares they bought were CTBC Financial Holding Co (中信金控), EVA Airways Corp (長榮航空) and China Development Financial Holding Corp