EQUITIES
TAIEX sheds 70.95 points
Local shares yesterday closed lower as investors cut their holdings in heavyweights in the bellwether electronics sector in the wake of losses suffered by US technology stocks overnight. The TAIEX closed down 70.95 points, or 0.68 percent, at 10,429.12, while turnover declined to NT$88.717 billion (US$2.82 billion), from NT$97.42 billion the previous session. Foreign institutional investors sold a net NT$5.85 billion of shares on the main board, Taiwan Stock Exchange data showed.
CHIPMAKERS
TSMC sells SMIC shares
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it has sold about 9.44 million shares of Semiconductor Manufacturing International Corp (SMIC, 中芯) for about HK$876 million (US$112 million). That would generate about HK$31 million in asset gains, according to a filing with the Taiwan Stock Exchange on Monday. After the sale, TSMC owns 11.67 million SMIC shares, or a 0.2 percent stake in China’s largest chipmaker, the filing said. TSMC was offered 1.79 billion SMIC shares, or an 8 percent stake, in 2009 from the Shanghai-based chipmaker to settle a patent infringement lawsuit.
ELECTRONICS
Machvision sales increase
Machvision Inc (牧德科技), a supplier of printed circuit board inspection equipment, yesterday said that last month’s sales grew 3.13 percent year-on-year and 2.48 percent month-on-month to NT$5260 million as the company continued to receive orders related to new semiconductor applications. The company said it retains a positive outlook for the rest of this year as its South Korean unit has started operations and preparations for a joint venture in China are underway. Cumulative revenue in the first five months totaled NT$1.19 billion, up 15.22 percent year-on-year.
CHIP TESTERS
Ardentec breaks ground
Ardentec Corp (欣銓科技), a wafer testing solutions provider, yesterday broke ground on the construction of a plant at an industrial park in Hsinchu County’s Hukou Township (湖口). The company said it would spend NT$1 billion on the project, which is expected to be completed by the end of next year. The company said the project includes a plant and an office building. Ardentec plans to install production equipment in 2021 and the project is expected to create 500 job opportunities, it said.
SOLAR WAFERS
SAS to buy Crystalwise stake
Solar wafer and module maker Sino-American Silicon Products Inc (SAS, 中美晶) yesterday said it is to spend NT$204 million on shares in sapphire substrate maker Crystalwise Technology Inc (兆遠電子). Crystalwise’s private placement plans to raise NT$419 million to strengthen its working capital and to expand its business. The government-owned National Development Fund also plans to spend NT$204 million to acquire 21 million Crystalwise shares and become a strategic investor.
ENERGY
CPC dismantling oil depot
State-run oil refiner CPC Corp, Taiwan (台灣中油) yesterday said that it started to dismantle its oil depot in Hsinchu two weeks ago and aims to dismantle all 11 oil tanks by September. Four oil tanks have been dismantled, it said. The company said that it aims to complete soil replenishment and water pollution assessment by the end of December. The Hsinchu City Government plans to develop the site into an innovation park.
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
STILL HOPEFUL: Delayed payment of NT$5.35 billion from an Indian server client sent its earnings plunging last year, but the firm expects a gradual pickup ahead Asustek Computer Inc (華碩), the world’s No. 5 PC vendor, yesterday reported an 87 percent slump in net profit for last year, dragged by a massive overdue payment from an Indian cloud service provider. The Indian customer has delayed payment totaling NT$5.35 billion (US$162.7 million), Asustek chief financial officer Nick Wu (吳長榮) told an online earnings conference. Asustek shipped servers to India between April and June last year. The customer told Asustek that it is launching multiple fundraising projects and expected to repay the debt in the short term, Wu said. The Indian customer accounted for less than 10 percent to Asustek’s
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
RSS