EQUITIES
TAIEX tops 12,800 points
The TAIEX yesterday extended its momentum from the previous session to close above 12,800 points as US presidential election results trickled in. The bellwether electronics sector drove the upturn, led by large semiconductor stocks, while old economy and financial stocks were mixed throughout the session, dealers said. The TAIEX ended up 131.89 points, or 1.04 percent, at 12,867.90, on turnover of NT$192.57 billion (US$6.64 billion). Foreign institutional investors bought a net NT$6.15 billion of shares on the main board, down from a net purchase of NT$14.52 billion in the previous session, Taiwan Stock Exchange data showed.
ELECTRONICS
Sinbon’s revenue dips
Sinbon Electronics Co (信邦電子), which produces cables, connectors and modems, yesterday said that China’s national holidays last month reduced its working days and shipments, leading revenue to fall 2.43 percent from September to NT$2.003 billion. Last month’s figure rose 40.94 percent from a year earlier and was second-highest in the firm’s history, driven by sales of automotive, communications and electronic peripheral components, Sinbon said. In the first 10 months of the year, consolidated revenue rose 14.86 percent from a year earlier to NT$17.78 billion, it said.
MANUFACTURING
Airtac revenue up annually
Pneumatic components supplier Airtac International Group (亞德客) yesterday reported consolidated revenue of NT$1.54 billion for last month, up 29.87 percent year-on-year, but down 14.34 percent month-on-month. “Market demand is still recovering steadily, but consolidated revenue was affected by the fewer working days during the eight-day national holiday in China,” Airtac said. A breakdown of sales showed stronger growth in shipments for the electronics, machine tool and battery industries, the firm said. Cumulative revenue from January to last month totaled NT$15.25 billion, up 17.43 percent from a year earlier.
FOOD AND BEVERAGE
Wowprime eyes digital boost
Restaurant chain operator Wowprime Corp (王品) yesterday said that it would invest NT$200 million over three years to digitally transform its business. The firm, which operates 275 restaurants under 21 brands in Taiwan, launched a service app on Feb. 1 and had 1 million registered members by Monday last week. In the first nine months of the year, the firm’s same-store sales grew 3.35 percent from a year earlier, the most in five years, Wowprime said. With the digital investment, the firm said that it expects to see 2 million app members next year and 3.2 million in 2022, making it the largest local restaurant platform.
ELECTRONICS
Acer profit spikes 94.2%
PC brand Acer Inc (宏碁) yesterday reported that its net income for last quarter was the highest in nearly 10 years at NT$2.29 billion, rising 94.2 percent from a year earlier. That translates into earnings per share of NT$0.76, the firm said. The results came as consolidated revenue rose 27.3 percent to NT$80.06 billion, with gross margin improving to 10.5 percent and operating margin to 3.64 percent. The firm attributed the growth to a 94.4 percent increase in Chromebook sales. For the first three quarters of the year, Acer’s net income totaled NT$4.04 billion, up 76.2 percent from last year, with earnings per share of NT$1.34, while consolidated revenue increased 12.6 percent to NT$194.49 billion.
Meta Platforms Inc offered US$100 million bonuses to OpenAI employees in an unsuccessful bid to poach the ChatGPT maker’s talent and strengthen its own generative artificial intelligence (AI) teams, OpenAI CEO Sam Altman has said. Facebook’s parent company — a competitor of OpenAI — also offered “giant” annual salaries exceeding US$100 million to OpenAI staffers, Altman said in an interview on the Uncapped with Jack Altman podcast released on Tuesday. “It is crazy,” Sam Altman told his brother Jack in the interview. “I’m really happy that at least so far none of our best people have decided to take them
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
PLANS: MSI is also planning to upgrade its service center in the Netherlands Micro-Star International Co (MSI, 微星) yesterday said it plans to set up a server assembly line at its Poland service center this year at the earliest. The computer and peripherals manufacturer expects that the new server assembly line would shorten transportation times in shipments to European countries, a company spokesperson told the Taipei Times by telephone. MSI manufactures motherboards, graphics cards, notebook computers, servers, optical storage devices and communication devices. The company operates plants in Taiwan and China, and runs a global network of service centers. The company is also considering upgrading its service center in the Netherlands into a
Taiwan’s property market is entering a freeze, with mortgage activity across the nation’s six largest cities plummeting in the first quarter, H&B Realty Co (住商不動產) said yesterday, citing mounting pressure on housing demand amid tighter lending rules and regulatory curbs. Mortgage applications in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung totaled 28,078 from January to March, a sharp 36.3 percent decline from 44,082 in the same period last year, the nation’s largest real-estate brokerage by franchise said, citing data from the Joint Credit Information Center (JCIC, 聯徵中心). “The simultaneous decline across all six cities reflects just how drastically the market
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