EQUITIES
TAIEX jumps 170.09 points
The TAIEX yesterday rose sharply by about 170 points, as the bellwether electronics sector continued to gain momentum on the back of a rally by US tech stocks at the end of last week. Contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) drove the broader market, while downstream tech stocks, flat-panel makers and some large-cap old-economy stocks also attracted buying interest, dealers said. The TAIEX ended up 170.09 points, or 1.04 percent, at 16,475.97, on turnover of NT$323.26 billion (US$11.32 billion). Foreign institutional investors bought a net NT$8.74 billion of shares on the main board, Taiwan Stock Exchange data showed.
EQUITIES
Foreigners sell TSMC, CAL
Foreign investors last week sold a net NT$39.68 billion of shares after selling a net NT$45.03 billion a week earlier, the Taiwan Stock Exchange said yesterday. The top three stocks sold by foreign investors were Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), China Airlines Ltd (CAL, 中華航空) and Pegatron Corp (和碩), while the top three bought were HannStar Display Corp (瀚宇彩晶), Cathay Financial Holding Co (國泰金控) and Innolux Corp (群創), the exchange said in a statement. As of Friday last week, the market capitalization of shares held by foreign investors was NT$22.32 trillion, or 44.87 percent of total market capitalization, it said.
COMPUTERS
Clevo net profit falls 37.9%
Computer maker Clevo Co (藍天電腦) yesterday reported that net profit last year fell 37.9 percent annually to NT$667 million, while revenue dipped 8 percent to NT$20.2 billion. Earnings per share were NT$1.12, down from NT$1.75 in 2019. The company’s board of directors has proposed to distribute a cash dividend of 0.6 per share, representing a payout ratio of 53.57 percent. The company said that laptop shipments last year rose 8 percent year-on-year to 1.52 million units, while laptop sales increased 5 percent to NT$16.2 billion, despite shortages of key components. As distance learning remains strong and high-end models are likely to benefit from replacement demand, laptop shipments this year are expected to rise 15 percent to 1.75 million units, it said.
RESTAURANTS
TTFB net profit rises 2.5%
Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團), which operates six restaurant chains in Taiwan and China, yesterday reported that net profit last year increased 2.5 percent year-on-year to NT$369 million. Earnings per share were NT$15.95, a record high, it said. Tai Tong said that it is upbeat about its outlook for the year and plans to accelerate store expansion plans in Taiwan. The company’s board of directors has proposed to distribute a cash dividend of NT$14.5 per share, which represents a payout ratio of 90.91 percent and a dividend yield of 6.6 percent based on yesterday’s closing share price of NT$241.5.
SHIPPING
Evergreen payout approved
Evergreen Marine Corp’s (長榮海運) board of directors last week proposed to distribute a cash dividend of NT$2.5 per common share, the highest over the past decade, based on last year’s earnings per share of NT$5.06, a company filing with the Taiwan Stock Exchange showed. The proposed cash dividend represents a payout ratio of 49 percent and a dividend yield of 5.71 percent based on yesterday’s closing share price of NT$43.8.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
‘NO DISRUPTION’: A US trade association said that it was ready to work with the US administration to streamline the program’s requirements and achieve shared goals The White House is seeking to renegotiate US CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told reporters. The people, along with a third source, said that the new US administration is reviewing the projects awarded under the 2022 law, meant to boost US domestic semiconductor output with US$39 billion in subsidies. Washington plans to renegotiate some of the deals after assessing and changing current requirements, the sources said. The extent of the possible changes and how they would affect agreements already finalized was not immediately clear. It was not known
A move by US President Donald Trump to slap a 25 percent tariff on all steel imports is expected to place Taiwan-made steel, which already has a 25 percent tariff, on an equal footing, the Taiwan Steel & Iron Industries Association said yesterday. Speaking with CNA, association chairman Hwang Chien-chih (黃建智) said such an equal footing is expected to boost Taiwan’s competitive edge against other countries in the US market, describing the tariffs as "positive" for Taiwanese steel exporters. On Monday, Trump signed two executive orders imposing the new metal tariffs on imported steel and aluminum with no exceptions and exemptions, effective