ELECTRONICS
HTC denies Xiaomi rumors
HTC Corp (宏達電) yesterday rejected rumors that it plans to sell its struggling smartphone unit to Chinese rival Xiaomi Inc (小米) after the Lunar New Year holidays next year. The rumors originated on Professional Technology Temple, the nation’s largest college bulletin board system. Analysts downplayed the rumor, saying Xiaomi’s sales have been lagging in recent quarters. Other analysts said that acquisitions by Chinese companies are not likely to receive the approval of the Democratic Progressive Party administration.
STOCK EXCHANGE
TAIEX shares edge up
Shares on the Taiwan Stock Exchange yesterday closed 0.49 percent higher, rising above their quarterly moving average of 9,159, on the strength of the bellwether electronics sector, dealers said. The market was also boosted by a record high on the Dow Jones Industrial Average overnight. The TAIEX ended up 44.84 points, or 0.49 percent, at 9,178.23, after moving between a low of 9,146.72 and a high of 9,202.72. Turnover totaled NT$74.138 billion (US$2.33 billion) during the session. The electronics sub-index closed up 0.64 percent, while the financial sub-index finished 0.24 percent higher.
ECONOMY
Average wealth rises
Taiwan’s average wealth per adult this year stands at US$172,800, which is well above most countries in the Asia-Pacific region and similar to that of Western Europe, according to Credit Suisse Research Institute’s Global Wealth Report. The report published on Tuesday said that wealth per adult this year increased by 59 percent from US$108,600 in 2000. According to the report, the richest nations, with wealth per adult of more than US$100,000, are in North America, Western Europe and among the rich Asia-Pacific and Middle Eastern countries.
STOCKS
FDC shares rise 3.2 percent
Shares in FDC International Hotels Corporation (FDC, 雲品國際), a major hotel and restaurant operator, yesterday closed up 3.2 percent at NT$51.6 on its debut on the Taiwan Stock Exchange. The operator of the five-star Fleur de Chine hotel near Sun Moon Lake and banquet facility Gala de Chine in New Taipei City opened high at NT$55.7, an increase of 11.44 percent from the initial public offering price of NT$50. The rally somewhat moderated toward the end of the say after some investors apparently cashed out. FDC executives aim to achieve earnings of NT$3 per share this year after net profits totaled NT$138 million for the first nine months, representing earnings per share of of NT$2.3. The company said it is upbeat about meeting the target after receiving reservations of up to 8,500 tables of corporate banquets this quarter.
PHARMACEUTICALS
Colorectal drug unveiled
Taiwan Leader Biotech Corp (台灣利得生物科技) yesterday unveiled a new drug for treating colorectal cancer that is based on antrodia cinnamomea, a species of fungus. The company said that the new drug, named LEAC-102, is effective in containing tumor growth when used in combination with chemotherapy. LEAC-102 also diminishes the side effects of chemotherapy, it said. The company has completed pre-clinical trials and said it would be working with the Development Center for Biotechnology (生物技術開發中心) to file Investigational New Drug as and New Drug Applications to expedite commercialization.
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],”
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
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