Samsung Electronics Co. is cutting memory chip production after reporting its slimmest profit since the 2009 global financial crisis, a significant step for the industry after oversupply caused prices to crater. Shares rose.
The Ministry of Economic Affairs yesterday launched a green energy leasing project to help small businesses and commercial building owners access renewable energy more easily.
Cathay Life Insurance Co (國泰人壽) and Shin Kong Life Insurance Co (新光人壽), two of the nation’s largest office landlords, support the government’s green energy initiatives and are signing agreements with private energy suppliers to buy green energy or renewable energy certificates (RECs), the ministry said.
The insurers plan to lease the renewable energy they procure to companies renting their office buildings in Taipei’s downtown areas.
Private energy suppliers are to start supplying renewable power next quarter at
EQUITIES
<strong>TSMC boosts TAIEX</strong>
The TAIEX yesterday reversed earlier losses and closed slightly higher as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) gained and stabilized the broader market, dealers said. The TAIEX ended the day up 48.83 points, or 0.27 percent, at 18,288.21. Turnover totaled NT$302.773 billion (US$10.94 billion), with foreign institutional investors buying a net NT$2.23 billion of shares on the main board, Taiwan Stock Exchange data showed. TSMC rose 1.24 percent to close at NT$651. Its gains contributed more than 65 points to the TAIEX, and boosted the electronics index by 0.08 percent and the semiconductor subindex by 0.42