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.
On Ireland’s blustery western seaboard, researchers are gleefully flying giant kites — not for fun, but in the hope of generating renewable electricity and sparking a “revolution” in wind energy. “We use a kite to capture the wind and a generator at the bottom of it that captures the power,” said Padraic Doherty of Kitepower, the Dutch firm behind the venture. At its test site in operation since September 2023 near the small town of Bangor Erris, the team transports the vast 60-square-meter kite from a hangar across the lunar-like bogland to a generator. The kite is then attached by a
Leading Taiwanese bicycle brands Giant Manufacturing Co (巨大機械) and Merida Industry Co (美利達工業) on Sunday said that they have adopted measures to mitigate the impact of the tariff policies of US President Donald Trump’s administration. The US announced at the beginning of this month that it would impose a 20 percent tariff on imported goods made in Taiwan, effective on Thursday last week. The tariff would be added to other pre-existing most-favored-nation duties and industry-specific trade remedy levy, which would bring the overall tariff on Taiwan-made bicycles to between 25.5 percent and 31 percent. However, Giant did not seem too perturbed by the
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
TARIFF CONCERNS: Semiconductor suppliers are tempering expectations for the traditionally strong third quarter, citing US tariff uncertainty and a stronger NT dollar Several Taiwanese semiconductor suppliers are taking a cautious view of the third quarter — typically a peak season for the industry — citing uncertainty over US tariffs and the stronger New Taiwan dollar. Smartphone chip designer MediaTek Inc (聯發科技) said that customers accelerated orders in the first half of the year to avoid potential tariffs threatened by US President Donald Trump’s administration. As a result, it anticipates weaker-than-usual peak-season demand in the third quarter. The US tariff plan, announced on April 2, initially proposed a 32 percent duty on Taiwanese goods. Its implementation was postponed by 90 days to July 9, then
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