Cautious sentiment hits TAIEX
Cautious sentiment about corporate earnings dragged down shares on the Taiwan Stock Exchange yesterday ahead of third-quarter earnings reports by several high-tech heavyweights, dealers said.
Investors mostly stayed on the sidelines, which kept turnover low, as they nervously waited for sales guidance later in the day from large-cap electronics firms, such as Taiwan Semiconductor Manufacturing Co (台積電) and flat-panel maker AU Optronics Corp (友達), dealers said.
The TAIEX closed down 52.80 points, or 0.72 percent, at 7,262.08, after moving between 7,260.00 and 7,339.21. Turnover during the session was NT$61.06 billion (US$2.08 billion).
TVBS to build cloud center
Television Broadcasts Satellite (TVBS), a nationwide cable TV network, announced yesterday that it intends to earmark NT$5 billion (US$17 million) to build a cloud media center in New Taipei City’s (新北市) Linkou District (林口), to help give it a leading position in the cultural creative industry.
The center, which covers up to 51,772m2, would integrate TV show production, cultural and tourist attractions, TVBS said.
Although the entertainment company has produced a series of popular variety shows, it lacks drama productions, a segment of the market that is dominated by South Korean soap operas, TVBS TV Network chairman Harvey Chang (張孝威) said.
The center would contain 10 film studios with upgraded facilities, to create drama series that can help the nation win back this sector of the broadcasting market. It is estimated to increase the firm’s revenues by more than 50 percent in five years, Chang said.
US delegation visits Taiwan
A delegation of US officials led by the Office of the US Trade Representative arrived in Taiwan on Monday night for talks with Taiwanese officials on issues of interest to both sides, the American Institute in Taiwan (AIT) said yesterday.
The delegation, which includes officials from the US Department of State, the US Department of Commerce and the US Department of Agriculture, is scheduled to leave today, the AIT said.
The legislature in late July lifted a ban on US beef imports containing a permissible residues of feed additive ractopamine, paving the way for the resumption of talks under Trade Investment and Framework Agreement (TIFA).
US Representative to APEC Atul Keshap announced the visit when he was in Taipei last month, saying the delegation would engage in a wide range of issues, including talks under the TIFA umbrella.
Buying spree to boost HTC
Smartphone vendor HTC Corp (宏達電) is expected to post slightly higher consolidated sales in the fourth quarter of this year, when the traditional Christmas buying sprees take place in the US and in Europe, Mega International Investment Service Corp (兆豐國際投顧) said yesterday.
In a research note, the investment advisory company said HTC is likely to post NT$73.78 billion (US$2.52 billion) in consolidated sales in the fourth quarter, up about 5 percent from NT$70.2 billion in the third quarter, on the back of new model launches.
HTC has scheduled an investors’ conference for today, during which the smartphone maker is expected to give its sales guidance for the fourth quarter and possibly disclose how its new models have been received.
NT dollar gains ground
The New Taiwan dollar yesterday gained ground against the US dollar, adding NT$0.062 to close at NT$29.280.
Turnover totaled US$635 million during the trading session.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained