EQUITIES
TAIEX down on US data
The TAIEX yesterday took a beating, plunging nearly 200 points, as investors took their cues from heavy losses on US markets caused by weaker-than-expected economic data. Selling again focused on large-cap electronics stocks, driving the broader market lower, while the transportation sector also came under pressure, led by shipping heavyweights. The TAIEX closed down 199.79 points, or 1.29 percent, at 15,240.13. Turnover totaled NT$243.465 billion (US$8.2 billion), with foreign institutional investors selling a net NT$5.94 billion of shares on the main board, Taiwan Stock Exchange data showed.
CONSTRUCTION
Private firms up investment
The Ministry of Finance yesterday said that the private sector’s participation in public construction totaled NT$195.4 billion in the first half of this year, exceeding last year’s total investment of NT$188.8 billion. Based on the scale of investment projects currently under negotiation, valued at NT$40 billion, the total investments for this year could hit a new record, the ministry said. An investment conference focusing on the private sector’s participation in public construction projects is to take place at the Taipei Nangang Exhibition Center tomorrow, it said. NT$224.5 billion of public construction projects are planned for the second half of this year and the first half of next year would be the focus of the conference, it said.
TECHNOLOGY
HTC optimistic about VR
HTC Corp (宏達電) said it remains upbeat about the overall virtual reality (VR) market, adding that it is still growing, especially the business-to-business segment. Telecoms are expected to support the development of the market, HTC Asia-Pacific general manager Charles Huang (黃昭穎) said on Tuesday while launching the company’s latest HTC Desire 22 Pro handset. The company is working with the Kaohsiung City Government to introduce the latest updates to its open-source metaverse platform Viverse to various sectors in the city, enabling anyone to jump into the virtual world at any time from any place via their smartphone or any other device that has a Web browser able to run VR experiences, Huang said. The company is also cooperating with the Taoyuan City Government to offer VR services after the third quarter, he said. HTC is working with several companies in Taiwan to launch metaverse services. For instance, in collaboration with Taiwan’s three major telecoms, HTC plans to offer a range of services designed to be compatible with its metaverse platform, Huang said. It would also work closely with the banking and financial industry, he added.
MINING
Tianqi planning HK listing
Tianqi Lithium Corp (天齊鋰業), a Chinese supplier of the key material used in batteries, is planning to raise as much as US$1.7 billion in what is set to be Hong Kong’s biggest listing this year. The Chengdu-based company, which is already listed in Shenzhen, is offering 164.1 million shares at HK$69 to HK$82 each, it said in a news release yesterday. The price range offers a maximum 52 percent discount on its A-share price at yesterday’s close. If an over-allotment option is exercised, proceeds could increase to nearly US$2 billion. The company intends to use the proceeds for working capital, repaying debt and funding the construction of a plant, among other things, the release said. Pricing is expected on Wednesday, and the shares are set to begin trading in Hong Kong on July 13.
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
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
SK Hynix Inc warned of increased volatility in the second half of this year despite resilient demand for artificial intelligence (AI) memory chips from big tech providers, reflecting the uncertainty surrounding US tariffs. The company reported a better-than-projected 158 percent jump in March-quarter operating income, propelled in part by stockpiling ahead of US President Donald Trump’s tariffs. SK Hynix stuck with a forecast for a doubling in demand for the high-bandwidth memory (HBM) essential to Nvidia Corp’s AI accelerators, which in turn drive giant data centers built by the likes of Microsoft Corp and Amazon.com Inc. That SK Hynix is maintaining its
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