EQUITIES
TAIEX rallies despite war
The TAIEX yesterday made a significant technical comeback after heavy losses last week triggered by Russia’s invasion of Ukraine. Bargain hunters could be found across the board, with the electronics sector — which had been hard hit — in focus. Buying also rotated to raw material stocks on the back of rising product prices, as well as shipping stocks due to hopes of high cash dividends, dealers said. However, the TAIEX failed to reach 18,000 during the session, as high technical hurdles remained above that level, the dealers added. The TAIEX closed up 246.07 points, or 1.39 percent, at 17,898.25. Turnover totaled NT$357.919 billion (US$12.77 billion), with foreign institutional investors buying a net NT$6.33 billion of shares, Taiwan Stock Exchange data showed.
EQUITIES
Foreign buyers offload tech
Foreign investors last week sold a net NT$166.54 billion of local shares after selling NT$6.31 billion a week earlier, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold NT$195.02 billion of local shares from the beginning of the year, it said. Last week, the top three shares foreign investors sold were China Airlines Ltd (中華航空), Taiwan Semiconductor Manufacturing Co (台積電) and United Microelectronics Corp (聯電), while the top three bought were Evergreen Marine Corp (長榮海運), Tatung Co (大同) and Macronix International Co (旺宏), the exchange said. The market capitalization of shares held by foreign investors was NT$23.38 trillion, or 42.74 percent of total market capitalization, it said.
SEMICONDUCTORS
Inergy rises 3% on debut
Shares in Inergy Technology Inc (廣閎科技), a fabless IC design firm that provides green energy solutions, yesterday rose 3.02 percent on the firm’s Taipei Exchange trading debut, following a well-received share sale last month. The shares opened at NT$122.5 and rose as high as NT$129.5 in the morning session before paring gains to close the day at NT$119.5, which was 3.02 percent higher than the initial offering price of NT$116 per share. Inergy was established in 2007 and is based in Hsinchu County’s Jhubei City (竹北). It offers integrated power components that are optimized for system applications, as well as integrated power modules for motor drives and hall sensors. It reported net profit of NT$74.093 million in the first three quarters of last year, down from NT$17.613 million a year earlier, or earnings per share of NT$1.82. Revenue last year rose 40.9 percent to NT$1.212 billion from NT$860.44 million in 2020.
INVESTMENTS
Scams rose 72% in 2021
The number of investment scams last year rose 72 percent annually to 4,904 cases, with total financial losses doubling to NT$2.08 billion, the Financial Supervisory Commission (FSC) said on Thursday last week, citing data compiled by the National Policy Agency (NPA). The figure accounted for 19.7 percent of total scams that the Criminal Investigation Bureau addressed last year, second only to online shopping scams at 22.8 percent, NPA data showed. The bureau has categorized three main types of investment scams: online gambling, cryptocurrency investments and overseas investments, Banking Bureau Chief Secretary Phil Tong (童政彰) said. Firms attending a financial crime seminar on Wednesday in Taipei had proposed that the NPA and the commission should have a platform to exchange information and crack down on such scams.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
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