SERVICES
Sentiment index gains
The service sector showed signs of improvement in March, with an index gauging industry sentiment indicating accelerated momentum, according to a survey conducted by the Commerce Development Research Institute. The survey showed that the index rose to 104, up 1 point from a month earlier, the Taipei-based think tank said in a statement on Friday. The institute said the index could show steady growth for last month as the sector continues to benefit from rising consumption resulting from continued outbound sales growth.
SMARTPHONES
HTC revenue down
HTC Corp (宏達電) on Friday reported consolidated revenue of NT$4.71 billion (US$156 million) for last month, down 18.03 percent year-on-year and 9.4 percent month-on-month as demand for its smartphones remained weak. During the first four months of the year, HTC’s revenue totaled NT$19.24 billion, down 6.5 percent from a year earlier, the company’s filing with the Taiwan Stock Exchange said. HTC is forecast to remain in the red for the first quarter. It is to release its financial results tomorrow. Net losses for last year totaled NT$10.56 billion.
FREIGHT
T3EX income up by 367.1%
Freight forwarder and logistics operator T3EX Global Holdings Corp (台驊國際投資控股) reported its net income surged 367.1 percent year-on-year to NT$29.59 million in the first quarter, with earnings per share of NT$0.27. It attributed the increase to rising air and sea freight sales amid a gradual global economic recovery, as well as a better customer mix and improving operational efficiency. T3EX said it is upbeat about sales, as global trade is expected to continue to improve from last year.
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
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
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
Protectionism: US trade chief Katherine Tai said the hikes would help to counter unfair trade practices from China, while boosting domestic clean energy investments US Trade Representative Katherine Tai (戴琪) defended stiff tariff hikes against countries such as China, saying that paired with investment, they were a “legitimate and constructive” tool for reinvigorating domestic industries. Tai’s comments come a week after sharp tariff increases on Chinese electric vehicles (EVs), EV batteries and solar cells took effect — with levies down the line on other products also recently finalized. The latest moves targeting US$18 billion in Chinese goods come weeks before next month’s US presidential election, with Democrats and Republicans pushing a hard line on China as competition between Washington and Beijing intensifies. In an interview on Thursday