Fri, May 12, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

EQUITIES

Domestic investors return

The Financial Supervisory Commission yesterday said that the return of domestic investors to the local bourse has helped pushed the TAIEX past the 10,000-point mark. The rally saw significant support from domestic investors instead of foreign institutional investors, Securities and Futures Bureau Deputy Director Chang Chen-shan (張振山) told a news conference in Taipei. He said that foreign institutional investors had accounted for 30.4 percent of trading, but the figure dipped to 27 percent at the end of last month.

ELECTRONICS

Hon Hai still eyeing the US

Hon Hai Precision Industry Co (鴻海精密) and its Japanese subsidiary, Sharp Corp, have not ruled out the possibility of setting up a semiconductor plant in the US, according to Kyodo News. Citing executives from Sharp, Kyodo News yesterday said that the semiconductor investment plan in the US could go ahead as long as Hon Hai and Sharp win a bid to acquire memorychip assets from Toshiba Corp. Hon Hai chairman Terry Gou (郭台銘) visited the White House late last month and confirmed that the company is in talks with US authorities to invest in the US. Hon Hai said it would make an official announcement after the US investment plan is finalized.

ELECTRONICS

Phison net profit soars

Phison Electronics Corp (群聯) yesterday posted an all-time high net profit of NT$1.28 billion (US$42.36 million) for last quarter, supported by strong demand for NAND flash memory chips. Growth in solid-state-drive data storage and better-margin memory chips used in cars and industrial devices also helped boost earnings, Phison said. On an annual basis, net profit surged 38 percent from NT$927 million, with earnings per share rising to NT$6.50 from NT$4.71 last year. Phison said it booked a foreign-exchange loss of NT$347 million last quarter due to a strong New Taiwan dollar.

SEMICONDUCTORS

TSMC monthly sales slump

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) on Wednesday reported a more than 30 percent month-on-month drop in sales for last month. In a statement, the world’s largest contract chipmaker said that its consolidated sales for last month stood at NT$56.87 billion, down 33.8 percent from a month earlier and down 14.9 percent from a year earlier. Last month’s figure was the lowest level in 37 months, as the second quarter is a traditional slow season for the global semiconductor industry. Even so, TSMC said that it has maintained its second-quarter sales forecast, which ranged between NT$213 billion and NT$216 billion. Based on its second-quarter guidance, TSMC is likely to post monthly revenue of NT$78.1 billion to NT$79.6 billion for this month and next month on average, bouncing back from last month’s low.

AUTOMAKERS

Chinese sales plummet

Chinese auto sales shrank last month as demand for most types of vehicles wilted, the Chinese Association of Automobile Manufacturers said yesterday. Sales of passenger cars fell 3.7 percent last month over the same period the previous year to 1.7 million. That was down from 1.7 percent sales growth in March. Total vehicle sales, including buses and trucks, fell 2.2 percent from a year earlier to 2.1 million. “Car production and sales fell significantly last month,” the association said in a statement. “Automotive market demand was weak.”

This story has been viewed 2288 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top