The TAIEX fell, led by Chunghwa Telecom Co (
Hua Nan Financial Holdings Co (
The TAIEX slid 10.96, or 0.2 percent, to 4,530.40. The key index moved between a 0.4 percent loss and a 0.5 percent gain in intra-day trading. The value of trade was NT$43.6 billion, almost a third less than the daily average in the past three months.
For the week, the index added 0.7 percent, its second weekly gain in three weeks.
MSCI Taiwan futures for April delivery in Singapore fell 0.1 percent to 193.90. The Taiwan Futures Index rose 0.1 percent to 4,516.
Chunghwa Telecom fell NT$2.50, or 4.8 percent, to NT$50. The government sold 4.5 percent of the 500 million shares of Chungwha Telecom on offer at NT$50 a share yesterday. The auction will continue to April 16.
"We aren't very positive on the stock," said Tom Lin, head of research at Franklin Templeton First Taiwan Securities Investment Trust Enterprise, that manages the equivalent of about US$143 million in equities. Lin cited price competition and falling call rates as damping the share's growth.
First Financial, owner of the nation's fourth-largest bank by assets, rose 50 cents, or 2.3 percent, to NT$22.40. Hua Nan Financial, owner of country's fifth-largest bank by assets, rose 50 cents, or 2.3 percent, to NT$22.30.
Moody's said it upgraded its ratings of the lenders to reflect their strong retail base, their importance as of the nation's major commercial banks and the supportive regulatory environment.
"Funds may be parking in bank stocks, whose price levels seem to be a buying opportunity now," said Lai Jan-hong, who helps manage the equivalent of US$29 million of stock at EnTrust Investment Trust Corp (
"Their profits after loss provisions are estimated to be even better next year," Lai said.
Hon Hai Precision Industry Co (鴻海精密) rose NT$1, or 0.9 percent, to NT$118. The country's biggest maker of electronic products for other companies said March sales rose 35 percent to NT$22.12 billion from a year earlier.
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
An Indian factory producing iPhone components resumed work yesterday after a fire that halted production — the third blaze to disrupt Apple Inc’s local supply chain since the start of last year. Local industrial behemoth Tata Group’s plant in Tamil Nadu, which was shut down by the unexplained fire on Saturday, is a key linchpin of Apple’s nascent supply chain in the country. A spokesperson for subsidiary Tata Electronics Pvt yesterday said that the company would restart work in “many areas of the facility today.” “We’ve been working diligently since Saturday to support our team and to identify the cause of the fire,”
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
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