Thu, Jul 14, 2016 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies


NSF owns NT$5.49bn

The state-run National Stabilization Fund (NSF, 國安基金), which in April said it would exit the stock market, owned NT$5.49 billion (US$1780.6 million) in shares as of the end of last month, compared with NT$18.7 billion as of the end of March, the Ministry of Finance said yesterday in a statement. In the April-to-June quarter, the fund had booked gains valued at NT$1.15 billion with unrealized gains of NT$69.42 million, the ministry said. The ministry said the fund is on track to exit the stock market, despite the UK’s vote to leave the EU on June 23.


Foundry capacity to grow 5%

Global foundry capacity is expected to grow 5 percent annually to reach 6 million wafers per month next year, boosted mainly by Taiwan and China, Semiconductor Equipment and Materials International (SEMI) said yesterday. Taiwan will have the largest foundry capacity in the world, accounting for more than 55 percent of 12-inch foundry capacity, thanks to capacity expansion from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and United Microelectronics Corp (聯電), SEMI said in a news release. China is to grab a 20 percent share of global foundry market next year, given a rapid capacity expansion primarily from Semiconductor Manufacturing International Corp (中芯), SEMI said.


TSMC denies China listing

TSMC yesterday denied reports it was considering going public on China’s stock market. TSMC made the remark after Chinese-language Commercial Times reported the possibility in a front-page story, which cited a Chinese official on Tuesday as saying that Taiwan-based high-tech firms were being encouraged to list on the Chinese market.


Flytech earns NT$1.42bn

Flytech Technology Co (飛捷科技), a leading point-of-sale (POS) system manufacturer, on Monday reported record-high revenue of NT$1.42 billion in the second quarter, thanks in part to contribution of NT$76 million from its newly acquired Box Technologies Ltd last month. Flytech, which also produces medical panel PCs, said the UK subsidiary would help it to expand its presence in the UK and Europe and expects its total revenue in the second half to be higher than the first half’s NT$2.76 billion.


Central bank auctions CDs

The central bank yesterday said it had auctioned NT$30 billion in two-year certificates of deposit (CDs) at an average interest rate of 0.413 percent, marking the lowest level in the bank’s history, as the market remained awash in liquidity. The latest CD sale came after the bank last month cut its benchmark interest rates by 12.5 basis points. Coupled with the bank’s recent sale in 364-day CDs to absorb excess funds from the banking system, the bank has sold NT$2.44 trillion of the notes, which would have the same effect as hiking the required reserve ratio by raising interest rates by nearly 7.5 percentage points.


Chinese exports near record

China’s steel exports climbed to the second-highest level on record last month, as shipments ramp up amid escalating trade tensions. Sales advanced 23 percent from a year earlier to 10.94 million tonnes, China’s General Administration of Customs said. Exports in the first six months were 57.12 million tonnes, the seventh on-year increase in a row and the most ever for the period.

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