EQUITIES
TAIEX sheds 0.1 percent
Local shares yesterday closed slightly lower amid lingering concerns over trade frictions between the US and China. With turnover on the decline, large-cap shares across the board appeared in the doldrums, but select small and mid-cap technology shares related to 5G technology development got a boost, lending some support to the broader market. The TAIEX closed down 10.67 points, or 0.1 percent, at 10,919.02, on turnover of NT$105.647 billion (US$3.4 billion). Foreign investors bought a net NT$1.55 billion of shares on the main board, Taiwan Stock Exchange data showed.
SEMICONDUCTORS
Phoenix to build facilities
Silicon wafer recycler Phoenix Silicon International Corp (昇陽半導體) plans to spend NT$1.41 billion on new manufacturing facilities and research equipment after the company’s board approved the capital expenditure proposal on Friday last week. Phoenix Silicon plans to implement the spending proposal next year, it said in a regulatory filing. The board also approved a proposal to issue up to NT$1 billion in non-collateral convertible bonds to fund its capital spending needs. Phoenix Silicon posted record revenue of NT$252 million last month, with cumulative revenue in the first eight months rising 29.97 percent year-on-year to NT$1.76 billion.
NOTEBOOKS
Compal remains No. 1
Compal Electronics Inc (仁寶電腦) remained the world’s largest notebook computer assembler in the second quarter, according to a report released by International Data Corp (IDC). Compal’s shipments accounted for 30.5 percent of the global notebook computer assembly market during the second quarter, up from 26 percent in the previous quarter, the report said. According to IDC, a total of 39.7 million notebooks were produced last quarter, up 11.4 percent from a quarter earlier, translating to about 12.11 million units assembled by Compal. Quanta Computer Inc (廣達電腦) was the second-largest notebook producer with a 21 percent market share, up from a 20.3 percent in the first quarter, the report said.
STEELMAKERS
CSC president appointed
China Steel Corp (CSC, 中鋼) yesterday appointed company executive vice president Wang Shyi-chin (王錫欽) as its new president to fill the vacancy left by Lin Horng-nan (林弘男). The personnel adjustments are to take effect on Monday next week, when Lin finishes his one-year term. Wang has been working for CSC for 38 years, the company said, adding that he has worked for subsidiary Dragon Steel Corp (中龍), CSC’s technology division, and its research and development division.
BANKING
HKEX pushes LSE takeover
Hong Kong Exchanges & Clearing Ltd (HKEX) has started working with UBS Group AG and HSBC Holdings PLC as it begins its charm offensive to convince London Stock Exchange Group PLC (LSE) shareholders about the merits of its takeover bid, people familiar with the matter said. The banks have been brought in as advisers and are helping HKEX arrange meetings with LSE shareholders, said the people, who asked not to be identified because the information is private. The Hong Kong bourse was already working with US boutique investment bank Moelis & Co on the US$37 billion bid.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
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],”