Mon, Aug 13, 2018 - Page 15 News List

Taiwan Business Quick Take

Staff writer, with CNA

ELECTRONICS

Hon Hai sales hit record

Hon Hai Precision Industry Co (鴻海精密) on Friday reported consolidated sales of NT$395.59 billion (US$12.9 billion) for last month, the highest for the month in the company’s history. The figures were 1.46 percent higher than the previous month and up 25.56 percent from a year earlier, Hon Hai said. In the first seven months of this year, cumulative revenue totaled NT$2.504 trillion, up 13.34 percent from a year earlier. Computing products were the main sales drivers during the period, followed by consumer electronics and communication products, it said.

INVESTMENT

Fund outflows continue

Foreign institutional investors last month recorded a net fund outflow of US$2.53 billion, marking the fourth consecutive month of net outflows amid concerns over an escalating trade war between the US and China, the Financial Supervisory Commission said. In addition to unfavorable external factors, foreign institutional investors also repatriated funds after receiving hefty cash dividends from their investments in local stocks, the commission said. In the first seven months of this year, foreign institutional investors sold a net NT$264.96 billion in local shares, it said.

MACROECONOMICS

CPI up 1.75% on tax hike

The nation’s consumer price index (CPI) last month rose 1.75 percent from a year earlier due largely to a spike in the prices of tobacco and betel nuts caused by a tax hike, the Directorate-General of Budget, Accounting and Statistics said on Tuesday last week. Excluding fruit, vegetables and energy, core CPI increased 1.5 percent year-on-year, it said. In the first seven months of this year, CPI increased 1.65 percent annually, it said.

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