An exchange-traded note (ETN) tracking top suppliers to Apple Inc is to be the first ever ETN to be traded on the Taiwan Stock Exchange (TWSE) when it is launched at the end of April, Fubon Securities Co (富邦證券) said yesterday.
Like exchange-traded funds, ETNs are designed to track an underlying index or an underlying stock, but they have a maturity date, like bonds.
They represent a type of financial derivative that authorities are hoping can diversify the product mix of local equity markets.
Fubon Securities, a fully owned subsidiary of Fubon Financial Holding Co (富邦金控), said that the ETN would trace the TIP Customized Big Apple Total Return Index compiled and managed by Taiwan Index Plus Corp (TIP, 台灣指數), a wholly owned subsidiary of TWSE that compiles indices.
The index is comprised of the nation’s 10 biggest Apple suppliers by free-flow market capitalization that meet liquidity conditions and are financially stable.
Included in the index are smartphone camera lens maker Largan Precision Co (大立光), power management solution supplier Delta Electronics Inc (台達電), integrated circuit packaging and testing firm ASE Technology Holding Co (日月光), contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) and iPhone assembler Hon Hai Precision Industry Co (鴻海).
The remaining five are metal casing maker Catcher Technology Co (可成), Apple Watch assembler Quanta Computer Inc (廣達), chip resistor maker Yageo Corp (國巨), iPhone assembler Pegatron Corp (和碩) and computer peripheral maker Lite-On Technology Corp (光寶科技).
TIP would review the index once a year after Apple updates its list of global suppliers, Fubon Securities said.
The securities house is planning to list another ETN on the Taipei Exchange that would track the TIP Highlight 20 Equal Weight Total Return Index, which is comprised of 20 stocks that have high dividends and growth potential in the electronics, financial and old economy sectors.
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],”
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
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained