TSMC releases finances
The Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) board yesterday approved financial statements for the first half of this year, with consolidated revenue totaling NT$139.815 billion (US$4.241 billion) in the six months ending June.
Consolidated net income reached NT$44.323 million over the same period, the world's largest contract chipmaker said in a statement released yesterday.
The board approved capital appropriations totaling US$59.8 million for development of 12-inch-wafer level-packaging technology and the capacity to meet market demand, TSMC spokesperson and vice president Lora Ho (何麗梅) said in the statement.
The board also gave the green light to capital appropriations totaling US$22.8 million for upgrading a monthly capacity of 12,600 eight-inch wafers in a 0.18 micron logic process to 11,100 eight-inch wafers capable of high voltage, radio frequency and BiCMOS processes, according to the statement.
No rise for DRAM chips
Global computer memory-chip prices will probably peak next month, earlier than predicted, because of slowing sales in China, according to the operator of Asia's largest semiconductor spot market.
DRAM computer chips "have not experienced an upswing" on the spot market even as contract market prices rose 3 percent to 5 percent this month, Taiwan's Dramexchange.com (集邦科技) said in an e-mailed statement yesterday.
The average price of the benchmark DRAM chip fell 0.9 percent to close at US$2.15 yesterday.
HSBC to sell insurance
HSBC Holdings Plc's insurance arm has obtained approval from the Financial Supervisory Commission to sell life and investment-linked insurance in Taiwan.
HSBC will sell insurance policies as part of its range of wealth management products, HSBC Insurance (Asia Pacific) Holdings Ltd said in a statement.
"As Taiwan becomes more prosperous and as people live longer, the need to provide financial certainty for the future, for ourselves and our families, becomes more and more important," the firm's managing director, John Holden, said in the statement.
HSBC Insurance will commence sales of insurance through HSBC's eight bank branches in Taiwan, HSBC spokeswoman Deborah Chang (章純如) said.
Taiwan Coop's ratings affirmed
Fitch Ratings Corp yesterday affirmed Taiwan Cooperative Bank's (合作金庫銀行) ratings at "BBB+" for its long-term issuer default rating and "AA-(twn)" for its national long-term rating, with a stable outlook.
Fitch said Taiwan Cooperative's ratings primarily reflected its adequate capitalization, asset quality and liquidity profile, according to a statement issued yesterday.
Despite strong support from the government, Taiwan Cooperative has relatively weak core profitability and operational efficiency compared with local peers, Fitch said.
Bonds continue their advance
Bonds advanced for a third day on signs the central bank will halt its interest-rate increases on concern losses in the US mortgage market will slow the global economy.
"The central bank's attitude appears to be softening," said Bono Huang, a bond trader at President Securities Corp (統一證券). "The market looks nice today."
The benchmark 10-year bond price climbed 0.2199, or NT$219.9 per NT$100,000 face amount, to 95.7486, while the 10-year bond yield declined 2.6 basis points to 2.376 percent, according to the GRETAI Securities Market.
The NT dollar inched lower against its US counterpart,closing down NT$0.003 at NT$32.968 on the Taipei Forex Inc.
BUSINESS UPDATE: The iPhone assembler said operations outlook is expected to show quarter-on-quarter and year-on-year growth for the second quarter Hon Hai Precision Industry Co (鴻海精密) yesterday reported strong growth in sales last month, potentially raising expectations for iPhone sales while artificial intelligence (AI)-related business booms. The company, which assembles the majority of Apple Inc’s smartphones, reported a 19.03 percent rise in monthly sales to NT$510.9 billion (US$15.78 billion), from NT$429.22 billion in the same period last year. On a monthly basis, sales rose 14.16 percent, it said. The company in a statement said that last month’s revenue was a record-breaking April performance. Hon Hai, known also as Foxconn Technology Group (富士康科技集團), assembles most iPhones, but the company is diversifying its business to
Apple Inc has been developing a homegrown chip to run artificial intelligence (AI) tools in data centers, although it is unclear if the semiconductor would ever be deployed, the Wall Street Journal reported on Monday. The effort would build on Apple’s previous efforts to make in-house chips, which run in its iPhones, Macs and other devices, according to the Journal, which cited unidentified people familiar with the matter. The server project is code-named ACDC (Apple Chips in Data Center) within the company, aiming to utilize Apple’s expertise in chip design for the company’s server infrastructure, the newspaper said. While this initiative has been
GlobalWafers Co (環球晶圓), the world’s No. 3 silicon wafer supplier, yesterday said that revenue would rise moderately in the second half of this year, driven primarily by robust demand for advanced wafers used in high-bandwidth memory (HBM) chips, a key component of artificial intelligence (AI) technology. “The first quarter is the lowest point of this cycle. The second half will be better than the first for the whole semiconductor industry and for GlobalWafers,” chairwoman Doris Hsu (徐秀蘭) said during an online investors’ conference. “HBM would definitely be the key growth driver in the second half,” Hsu said. “That is our big hope
The consumer price index (CPI) last month eased to 1.95 percent, below the central bank’s 2 percent target, as food and entertainment cost increases decelerated, helped by stable egg prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. The slowdown bucked predictions by policymakers and academics that inflationary pressures would build up following double-digit electricity rate hikes on April 1. “The latest CPI data came after the cost of eating out and rent grew moderately amid mixed international raw material prices,” DGBAS official Tsao Chih-hung (曹志弘) told a news conference in Taipei. The central bank in March raised interest rates by