EQUITIES
Shih vows re-energization
The Taiwan Stock Exchange’s (TWSE) newly appointed chairman, Shih Jun-ji (施俊吉), yesterday said he would work to re-energize local capital markets and further enhance the average price-to-earnings ratio of stocks listed on the main bourse and the over-the-counter exchange. Shih made the remarks during a handover ceremony in Taipei, where he received the official seal from his predecessor, Lee Sush-der (李述德). Shih, formerly a minister without portfolio, said one of his goals is to raise the stock market’s average daily turnover to between NT$100 billion and NT$120 billion (US$3.1 billion and US$3.7 billion). The TWSE also aims to expand ties with its foreign peers, he said.
EQUITIES
TWSE signs memorandum
The Taiwan Stock Exchange has signed a memorandum of understanding with Bursa Malaysia Bhd that commits the two sides to cooperating more closely. It was the second memorandum inked by the TWSE and Bursa Malaysia to strengthen their strategic partnership. The first was signed in 1999 and covered trading information exchanges.
EQUITIES
TPEX to focus on small firms
Former Securities and Futures Bureau deputy director-general Chang Li-chen (張麗真) yesterday took over as acting chairman and president of the Taipei Exchange (TPEX), which is in charge of the nation’s over-the-counter bourse and serves bond trading in Taiwan. Taking over from her predecessor, Lee Chi-hsien (李啟賢), Chang said at a handover ceremony that the TPEX would make efforts to become the cradle of small and medium-sized enterprises, the key driving force of the local bonds market and the advocate of innovative industries. The exchange would also develop platforms for creative products, Chang added.
E-COMMERCE
Momo.com to open facility
Momo.com Inc (富邦媒), an online, TV and catalogue shopping subsidiary of Taiwan Mobile Co (台灣大哥大), is to open a new automated logistics center in Taoyuan in the second quarter of next year, the firm said in a statement yesterday. This is to be the company’s first wholly owned logistics center, Momo.com said, adding that it would help reduce delivery times and warehouse rental costs. The company said it plans to expand its operational scope by investing in two more logistics centers in central and southern Taiwan in the next few years. In the first five months of the year, cumulative sales totaled NT$11.44 billion, up by 9.2 percent from the same period last year, company data showed.
ELECTRONICS
Sampo reports rise in sales
Home appliance maker Sampo Corp (聲寶) yesterday said sales for last month would total about NT$1.1 billion, up from NT$1.08 billion in May, due to the summer peak season for the home appliances and consumer electronics industry. Second-quarter sales are likely to be higher than the first quarter’s NT$2.65 billion and could increase from a year ago, Sampo spokesman Peter Chiang (江全田) told an investors’ conference in Taipei. As Hon Hai Precision Industry Co (鴻海精密) has acquired Japan’s Sharp Corp and is to be fully in charge of sales and marketing of Sharp products in Taiwan, Sampo plans to end its joint venture with the Japanese firm, Sharp Corp Taiwan (夏寶), if it gains shareholders’ approval in a meeting on Tuesday next week, Chiang said.
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Artificial intelligence (AI) agents would supplant smartphones as the center of people’s digital lives, fundamentally reshaping personal devices and driving a major computing upgrade cycle, Qualcomm Inc CEO Cristiano Amon said yesterday. In his keynote speech for this year’s Computex trade show in Taipei, Amon said that the rise of "agentic AI" — AI systems capable of reasoning, planning and carrying out tasks autonomously — would transform how people interact with technology across phones, PCs, vehicles and wearable devices. Describing the technology as the next major evolution in computing, Amon said that "2026 is the year of agents.” For decades, smartphones have sat
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