Taiwan Chip Packager to Stop Production for 48 Hours Due to Pandemic Resurgence: Reuters

• Taiwanese chip packager, King Yuan Electronics, will stop production for two days from today after several employees contracted COVID-19 amid rising cases in the global chip hub, Reuters reports.

• The rising cases have triggered concerns about the worsening of the semiconductor chip crisis that has hampered global industry ranging from auto to electronics.

• Intel Corp (NASDAQ: INTC) and Samsung Electronics Co Ltd (OTC: SSNLF) feature amongst King Yuan’s essential customers.

• The halt is estimated to affect 4% - 6% of its June output and up to 6% of its June revenue. King Yuan saw no significant business impact in 2021.

• Sixty-seven employees, mainly from the Philippines and working at a King Yuan factory in the Miaoli city, tested positive.

• Taiwan reported 472 new domestic COVID-19 cases today, down from the 583 domestic infections reported on Thursday.

• Taiwan reported 10,446 cases since the pandemic began, including 187 deaths.

• Price action: INTC shares traded higher by 2.17% at $57.46 during the market session on the last check Friday.

See more from Benzinga

• Click here for options trades from Benzinga

• FBI Draws Parallels Between Ransomware Investigation and 9/11 Attacks: WSJ

• Red Cat Names Subsidiary CEO Allan Evans as Company COO

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.