EQUITIES
Foreign selling spikes
Foreign investors last week sold a net NT$83.02 billion (US$2.86 billion) of local shares after selling a net NT$7.2 billion a week earlier, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold NT$552.81 billion of local shares from the beginning of the year, it said. Last week, the top three shares foreign investors sold were United Microelectronics Corp (聯電), Innolux Corp (群創) and Taiwan Semiconductor Manufacturing Co (台積電), while the top three shares they bought were CTBC Financial Holding Co (中信金控), EVA Airways Corp (長榮航空) and China Development Financial Holding Corp (中華開發金控), the exchange said. As of Friday, the market capitalization of shares held by foreign investors was NT$21.97 trillion, or 41 percent of total market capitalization, it said.
COMPUTERS
Ennoconn hits record sales
Industrial computer maker Ennoconn Corp (樺漢科技) yesterday reported that sales for last month were a record for March, bringing cumulative sales in the first quarter to a record high, despite headwinds such as the Russia-Ukraine war and raw material shortages. Consolidated revenue increased 41.4 percent month-on-month and 15.7 percent year-on-year to NT$9.56 billion, the company said in a statement. First-quarter revenue was up 20 percent annually to NT$24.22 billion. Ennoconn said the growth was across the board for its three major business units: with the design and manufacturing segment contributing 18.2 percent to the company’s total revenue, systems integration 40 percent and brand business 41 percent, it said.
E-COMMERCE
Momo sales rise 23.3%
E-commerce operator Momo.com Inc (富邦媒體) yesterday reported consolidated revenue of NT$7.53 billion for last month, up 23.3 percent from a year earlier and hitting a record for March. The online shopping business, which has benefited from a changing consumer pattern amid the COVID-19 pandemic, saw sales increase 25.5 percent on the back of robust demand for health and leisure products, cosmetics and household goods, the company said in a statement. In addition, sales of scooters and motorbikes surged during the back-to-school season, it said. Online shopping contributed 94.8 percent to last month’s total revenue, the company said. First-quarter revenue totaled NT$22.94 billion, up 24.9 percent from a year earlier and the second-highest quarterly revenue on record, it said.
ELECTRONICS
Hon Hai ups EV investment
Hon Hai Precision Industry Co (鴻海精密) has poured more funds into an electric vehicle (EV) subsidiary, as it continues to explore business opportunities in this market. In a regulatory filing on Friday, Hon Hai said it has invested an additional US$39 million in Foxconn EV Technology Inc, taking about a 17 percent stake in the subsidiary. The new investments would allow Hon Hai to control a 100 percent stake in Foxconn EV Technology, which has served as a major investor, signing an agreement with Ohio-based pickup maker Lordstown Motors Corp to develop the Endurance electric pickup model. Separately, Hon Hai said its Longhua production site in Shenzhen in China’s Guangdong Province has obtained UL 2799 “Gold Level Certification” for its “Zero Waste to Landfill” efforts, making the complex “the world’s first comprehensive eco-park.”
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
Artificial intelligence (AI) agents would supplant smartphones as the center of people’s digital lives, fundamentally reshaping personal devices and driving a major computing upgrade cycle, Qualcomm Inc CEO Cristiano Amon said yesterday. In his keynote speech for this year’s Computex trade show in Taipei, Amon said that the rise of "agentic AI" — AI systems capable of reasoning, planning and carrying out tasks autonomously — would transform how people interact with technology across phones, PCs, vehicles and wearable devices. Describing the technology as the next major evolution in computing, Amon said that "2026 is the year of agents.” For decades, smartphones have sat
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