Taiwan stocks were mixed as gains by United World Chinese Commercial Bank (
United World Chinese Commercial Bank surged by its 6.8 percent daily limit to NT$25.20. Cathay Financial Holding Co (國泰金控) will buy Taiwan's 10th largest lender by assets for NT$29.50 per share, a 25 percent premium to the lender's closing price on Friday, the local Chinese-language media reported.
"It's good news for United World, but the financial stocks will have to wait until next year to perform better because they're writing off bad debt this year," said Margaret Lin, who manages NT$800 million ($24 million) in stocks at Truswell Securities Investment Trust (富鼎投信). "I'm buying a bit of everything because the market's so weak, we need to be balanced right." Hon Hai Precision shed NT$3.50, or 2.7 percent, to NT$126.
Taiwan's largest computer-parts maker reported sales in July fell 1 percent from the previous month to NT$21.4 billion, the first monthly drop since February. It's difficult to say whether the computer industry is recovering, the Economic Daily News reported, citing Hon Hai Chairman Terry Kuo (郭台銘).
The total value of trade was NT$56 billion, 17 percent below the three-month daily average.
Quanta Computer Inc (廣達電腦) fell NT$1.50, or 2 percent, to NT$75.Elitegroup Computer Systems Co (菁英電腦) fell NT$1.50, or 1.7 percent, to NT$84.50 while Winbond Electronics Corp (華邦電子) gained NT$0.10, or 0.5 percent, to NT$19.50.
The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
VERTICAL INTEGRATION: The US fabless company’s acquisition of the data center manufacturer would not affect market competition, the Fair Trade Commission said The Fair Trade Commission has approved Advanced Micro Devices Inc’s (AMD) bid to fully acquire ZT International Group Inc for US$4.9 billion, saying it would not hamper market competition. As AMD is a fabless company that designs central processing units (CPUs) used in consumer electronics and servers, while ZT is a data center manufacturer, the vertical integration would not affect market competition, the commission said in a statement yesterday. ZT counts hyperscalers such as Microsoft Corp, Amazon.com Inc and Google among its major clients and plays a minor role in deciding the specifications of data centers, given the strong bargaining power of
RSS