Foreigners still net buyers
Foreign investors last week bought a net NT$7.02 billion (US$253.8 million) of local shares after they bought a net NT$26.46 billion the previous week, the Taiwan Stock Exchange said in a statement yesterday. The top three shares bought by foreign investors last week were Shin Kong Financial Holding Co (新光金控), Yang Ming Marine Transport Corp (陽明海運) and CTBC Financial Holding Co (中信金控), while the top three sold were United Microelectronics Co (聯電), AU Optronics Corp (友達光電) and Innolux Corp (群創), the exchange said. As of Friday last week, the market capitalization of shares held by foreign investors was NT$22.83 trillion, or 44.21 percent of total market capitalization, it said.
Trading will not cease
The Taiwan Stock Exchange yesterday said that it would not cease trading even though the nation has faced an increasing number of locally transmitted COVID-19 cases. It is important to maintain properly functioning capital markets, the exchange said in a statement, adding that it has an all-encompassing “business continuity plan,” and has implemented work-from-home and off-site working as precautionary measures. In addition, there are also two backup trading systems in separate locations to safeguard uninterrupted operations, the exchange said. “With the cooperation of listed companies and market participants, the exchange firmly believes the capital markets can provide the reliable support the economy needs in this COVID period,” it said.
IKKA shares soar on debut
Shares of IKKA Holdings (Cayman) Ltd (第一化成控股), a maker of precision plastic injection-molded components, yesterday rose as much as 125 percent on its debut on the Taiwan Stock Exchange. British Cayman Islands-registered IKKA is the first Japanese company to have a primary listing in Taiwan. Its shares opened at NT$152, compared with an initial offering price of NT$76, and continued moving higher before closing at NT$159, up 109.21 percent. There is no restriction on daily price movements for newly listed shares. Auto parts account for 60.9 percent of IKKA’s sales, with Japanese firms such as Toyota Motor Corp, Honda Motor Co and Nissan Motor Co among its customers.
FocalTech net profit surges
FocalTech Systems Co (敦泰電子), a supplier of drivers and touch display driver ICs used in flat panels, yesterday reported a net profit of NT$721 million for April, up 2,937 percent from a year earlier, or earnings per share of NT$3.34. The company’s revenue grew 102 percent year-on-year to NT$1.91 billion, the most in the company’s history, on the back of rising prices and shipments, FocalTech said. Revenue in the first four months grew 62.43 percent to NT$6.26 billion, while net profit was NT$1.56 billion, or earnings per share of NT$7.58.
Wan Hai orders new ships
Wan Hai Lines Ltd (萬海航運) yesterday said that it has placed an order for four container vessels with South Korea’s Samsung Heavy Industries Co for between NT$13.08 billion and NT$13.8 billion as the company plans to adjust its fleet to cope with its business needs. The four 13,100 twenty-foot-equivalent unit container ships are to be delivered from the second quarter of 2023, Wan Hai said. The price includes potential equipment upgrades on the vessels, it said.
‘FINGERPRINTING’: The ‘private relay’ feature hides a user’s IP address by rerouting the Web connection through a third party, making it impossible to infer their identity Apple Inc on Monday said a new “private relay” feature designed to obscure a user’s Web browsing behavior from Internet service providers and advertisers would not be available in China for regulatory reasons. The feature was one of a number of privacy protections Apple announced at its annual software developer conference on Monday, the latest in a years-long effort by the company to cut down on the tracking of its users by advertisers and other third parties. Apple’s decision to withhold the feature in China is the latest in a string of compromises the company has made on privacy in a country
SUPPLY CHAIN RESHUFFLE: The chipmaker was ‘cautious’ in not making commitments too early in building production in the US, citing ‘geopolitical factors,’ Nikkei Asia said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is considering building an advanced IC packaging plant in the US following a massive investment to set up a wafer fab in Arizona, Nikkei Asia reported. TSMC was considering the plant in response to “Washington’s desire to bring more of the tech supply chain onto home turf,” the report said. TSMC increasingly faces the need to expand in the US, which accounts for about 62 percent of its total sales, Nikkei Asia said, citing three sources who declined to be named. The potential US plant would be equipped with the latest 3D stacking technologies to arrange chips
Apple Inc has hired Ulrich Kranz, a former senior executive at BMW AG’s electric vehicle (EV) division, to help lead its own vehicle efforts, people familiar with the situation said. The tech giant hired Kranz in recent weeks, about a month after he stepped down as CEO of Canoo Inc, a developer of self-driving EVs. Before cofounding Canoo, Kranz was senior vice president of the group that developed the i3 and i8 cars at BMW, where he worked for 30 years. Kranz is one of Apple’s most significant automotive hires, a clear sign that the iPhone maker is determined to build a
PLEDGE: The contract chipmaker said it would issue at least NT$2.5 a share each quarter and no less than NT$10 per share for the whole of this year Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday raised its proposed cash dividend for last quarter to NT$2.75 per share from NT$2.5 a year earlier, given the company’s increased earnings. That represents a payout ratio of about 51 percent based on its earnings per share of NT$5.39 in the first three months of this year. TSMC said that its board of directors approved the cash dividend distribution yesterday. The Hsinchu-based chipmaker reassured its investors that it intends to maintain a stable and sustainable dividend policy. The company said that it would issue at least NT$2.5 a share