Tue, Mar 15, 2022 page11

• Taiwan Business Quick Take

  • Staff writer, with CNA
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  EQUITIES

  TAIEX ends flat

  Local shares yesterday closed flat after giving up earlier gains as the bellwether electronics sector came under pressure, dragging down the broader market, dealers said. While select old-economy stocks, in particular in the transportation and steel sectors, as well as the financial sector, remained strong throughout the session, market sentiment was cautious over the ongoing military conflict between Russia and Ukraine, they said. The TAIEX ended down 1.7 points at 17,263.04 after moving between 17,217.58 and 17,363.04. Turnover was NT$286.16 billion (US$10.03 billion), with foreign institutional investors selling a net NT$16.15 billion of shares.

  EQUITIES

  Foreign net sales surge

  Foreign investors last week sold a net NT$180.98 billion of local shares after selling NT$63.44 billion a week earlier, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold NT$439.44 billion of local shares from the beginning of the year, it said. Last week, the top three shares foreign investors sold were Taiwan Semiconductor Manufacturing Co (台積電), United Microelectronics Corp (聯電) and Yuanta Financial Holding Co (元大金控), while the top three shares they bought were Innolux Corp (群創), AU Optronics Corp (友達光電) and Wisdom Marine Lines Co (慧洋海運), the exchange said. The market cap of shares held by foreign investors was NT$22.35 trillion, or 41.75 percent of total market cap, it said.

  ENERGY

  Hsing Mien to invest NT$800m

  Hsing Mien Industry Co (信銘工業) plans to invest NT$800 million to expand its manufacturing facilities in Taiwan, the Ministry of Economic Affairs said on Friday, as it approved the industrial gas provider’s application to join the government’s “Invest in Taiwan” initiative. The company plans to expand capacity at a plant at the Ping Nan Industrial Park (屏南工業區) in Pingtung County and increase production lines at a plant in Kaohsiung’s Dafa Industrial Park (大發工業區), the ministry said. Hsing Mien provides a wide range of industrial bulk gas and liquid gas used in different industrial applications, with customers including semiconductor companies and other high-tech firms.

  TAXES

  Receipt lottery raises wins

  The National Taxation Administration on Friday said it would increase the number of NT$500 prize-winning receipts for its Cloud Uniform Invoice lottery to encourage the use of cloud invoices. Starting with the January-February draw, the number of NT$500 prize winners would be increased from 1 million to 1.65 million. The number of prize-winning receipts for the NT$1 million, NT$2,000 and NT$800 prizes is to remain unchanged at 30, 16,000 and 100,000 respectively, the agency said.

  ELECTRONICS

  Foxconn Industrial profit up

  Foxconn Industrial Internet Co (富士康工業互聯網), Precision Industry Co’s (鴻海精密) Shanghai-listed subsidiary that specializes in industrial Internet-of-Things (IIoT) solutions, yesterday reported that net profit last year grew 14.77 percent from a year earlier to 20.01 billion yuan (US$3.15 billion), it said in a filing with the Shanghai Stock Exchange. That translated into earnings per share of 1.01 yuan, up from 0.88 yuan. Revenue rose 1.8 percent year-on-year to a record high 439.56 billion yuan. Foxconn Industrial attributed the growth to robust demand for cloud computing, IIoT, articificial intelligence and 5G-related applications.
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