Foreigners sell net NT$34bn
Foreign investors last week sold a net NT$34.07 billion (US$1.21 billion) of local shares after selling a net NT$86.22 billion the previous week, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold an accumulated net NT$578.95 billion of local shares since the beginning of this year, the exchange said. Last week, the top three shares sold by foreign investors were United Microelectronics Corp (聯電), China Steel Corp (中鋼) and AU Optronics Corp (友達光電), while the top three bought were CTBC Financial Holding Co (中信金控), Evergreen Marine Corp (長榮海運) and Yang Ming Marine Transport Corp (陽明海運), the exchange said. As of Friday, the market capitalization of shares held by foreign investors was NT$22.17 trillion, or 43.61 percent of total market capitalization, it said.
FOOD AND BEVERAGE
Wowprime to hike prices
Restaurant chain operator Wowprime Corp (王品集團) yesterday said it would raise the prices of some of its brands by about 5 percent from Oct. 25 to reflect increases in raw materials and wages. Wowprime operates 15 restaurant brands in Taiwan and China, including Wang Steak (王品台塑牛排), Tasty (西堤) and 12 Sabu (石二鍋). The company said that it has since last year faced price increases for beef, pork, fish and chicken items, as well as cooking oil and sugar, citing a UN Food and Agriculture Organization report that global food prices have risen 40 percent in the past 15 months and that prices last month were the highest in 10 years. A rise in the minimum wage in Taiwan would also increase the firm’s financial burden, Wowprime said. From 2018 to this year, Taiwan’s minimum monthly wage has risen 9.1 percent, while the hourly wage has risen 14.3 percent, it added.
CSC total revenue edges up
China Steel Co (CSC, 中鋼), Taiwan’s largest steel mill, yesterday said that consolidated revenue last month totaled NT$41.98 billion, up 0.64 percent from a month earlier and 60.67 percent from a year earlier. Rising steel prices, and recovered output at its units in Malaysia and Vietnam, helped its third-quarter revenue rise 8.77 percent quarterly and 68.83 percent annually to NT$125.58 billion, the firm said. Kaohsiung-based CSC said it expects infrastructure plans in the US and Europe, and China’s efforts to achieve carbon neutrality to continue to bolster prices in this quarter. In the first nine months of the year, cumulative revenue increased 49.15 percent year-on-year to NT$338.85 billion — the highest for the nine-month period in the company’s history.
FSC fines Chubb NT$6m
The Financial Supervisory Commission (FSC) on Thursday fined Chubb Corp Taiwan (美商安達產險) NT$6 million for breaches of the Insurance Act (保險法), as the insurer sold products on the Web sites of two local airlines without regulatory approval. Since 2018, the company has partnered with Mandarin Airlines Ltd (華信航空) and Tigerair Taiwan Ltd (台灣虎航), offering its tourism insurance products on their Web sites, the commission said. “Insurance policies involve consumers’ confidential information, so selling them on the airlines’ Web sites could be risky as far as cybersecurity is concerned,” Insurance Bureau Deputy Director Lin Chih-hsien (林志憲) told a videoconference. The commission has demanded that Chubb Taiwan suspends the sale of its tourism insurance policies for six months, Lin said.
SELF-SUFFICIENCY: Alibaba is one of a number of Chinese firms that has answered Beijing’s call to invest in the development of cutting-edge technologies Alibaba Group Holding Ltd (阿里巴巴) yesterday unveiled a new server chip that is based on advanced 5-nanometer technology, marking a milestone in China’s pursuit of semiconductor self-sufficiency. The Chinese tech giant’s newest chip is based on micro-architecture provided by the SoftBank Group Corp-owned Arm Ltd, it said. Alibaba, which is holding its annual cloud summit in Hangzhou, China, said that the chip is to be used in its own data centers in the “near future” and would not, for the time being, be sold commercially. “Customizing our own server chips is consistent with our ongoing efforts toward boosting our computing capabilities with better
Production at Taiwan Semiconductor Manufacturing Corp’s (TSMC, 台積電) fabs was not affected by a fire at a construction site for a water recycling facility in the Southern Taiwan Science Park in Tainan. The world’s biggest contract chipmaker said that the construction site is not adjacent to its fabs, which were unaffected. CTCI Corp (中鼎工程) is responsible for the construction of the facility, which it is to operate itself once it is completed, the chipmaker said. The facility caught fire at about 11am, and the blaze was brought under control about 30 minutes after the incident was reported, the Southern Taiwan Science Park Administration
‘SHORT-TERM ECONOMIC PAIN’: A military takeover would only temporarily weigh on wafer production on both sides of the Taiwan Strait, IC Insights said Taiwan has more chip manufacturing capacity than any other economy in the world, US-based market information advisory firm IC Insights said in a research paper last week, cautioning that the nation’s strength could prompt China to attempt to take over Taiwan. Taiwan commanded 21.4 percent of global installed IC capacity, ahead of South Korea’s 20.4 percent, Japan’s 15.8 percent and China’s 15.3 percent, North America’s 12.6 percent and Europe’s 5.7 percent, IC Insights said. Taiwan is one of two countries that uses 10-nanometer technology or better to produce wafers, holding 62.8 percent of global capacity, with South Korea holding the remaining 37.2
AGGRESSIVE STEP: With the new processors, Apple is aiming at the high-end chips Intel has provided for the MacBook Pro and other top-end Macs for about 15 years Apple Inc on Monday took the most aggressive step yet to strip Intel Corp chips from its computers, announcing more powerful homegrown Mac processors alongside a total revamp of its MacBook Pro laptop computers. The company showcased the chips at an event called “Unleashed,” which also included its latest audio products. The new components, called the M1 Pro and M1 Max chips, are 70 percent faster than its M1 predecessors, Apple said. It also unveiled a redesigned MacBook Pro, adding larger screens, MagSafe charging and better resolution. With the new processors and devices, Apple is aiming squarely at the high-end chips that Intel has