The nation’s machine-tool exports fell 20.5 percent to US$634.44 million in the first quarter from US$798.22 million a year ago as nine out of the 10 biggest exports markets declined, according to data compiled by the Taiwan Machine Tool & Accessory Builders’ Association (TMBA).
Among all machine tool products, exports of metal cutting machines fell 22.6 percent year-on-year to US$521.22 million in the January-to-March quarter, while those of metal-forming machinery also dropped by an annual rate of 9.1 percent to US$113.22 million, TMBA said in a statement on Tuesday.
By destination, machine-tool exports to China, the sector’s main export destination, fell 28.6 percent year-on-year to US$178.78 million in the first three months of the year from US$250.33 million, the Taichung-based trade association said.
Analysts said that many local manufacturers are not immune to a slowdown in China’s economic growth this year, which accounted for 28.2 percent of Taiwan’s total machine-tool shipments in the first quarter.
Exports to the US, the second-largest overseas market for Taiwan’s goods, declined by an annual rate of 16.8 percent to US$74.16 million from US$89.16 million a year ago, while outbound shipments to Turkey, the third-largest market, fell 17.1 percent to US$41.97 million from US$50.63 million, TMBA’s data showed.
The latest data showed Taiwan’s machine-tool exports registered an across-the-board annual decline in the first quarter, except for the Indian market.
Taiwanese goods sold to India slightly rose 4.2 percent annually to US$20.61 million from US$19.78 million.
India was the eighth-largest destination for Taiwan’s machine-tool exports, accounting for 2.5 percent of the total, data showed.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
‘ONE-STOCK SHOW’: Turnover hit an all-time high as TSMC continued to determine the local market’s direction and surpassed Visa in market capitalization The TAIEX early yesterday hit an all-time intraday high on the back of soaring Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares, before tumbling back to the previous day’s close as the contract chipmaker could not single-handedly prop up the index. The TAIEX rose more than 400 points in the first 20 minutes of trading to hit a record 13,031.7 points, but later pared its gains to close down 0.01 percent at 12,586.73. Turnover was NT$343.252 billion (US$11.63 billion), the highest in the Taiwan Stock Exchange’s history. TSMC continued to dictate the market’s direction, as its early surge by the daily
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion