Foreigners sell NT$17.04bn
Foreign investors last week sold a net NT$17.04 billion (US$569.63 million) of local shares after selling a net NT$1.9 billion a week earlier, the Taiwan Stock Exchange said yesterday. As of Friday, foreign investors had sold NT$972.02 billion of local shares since the beginning of the year, the exchange said in a statement. The top three shares sold by foreign investors last week were CTBC Financial Holding Co (中信金控), China Steel Corp (中鋼) and E.Sun Financial Holding Co (玉山金控), while the top three shares foreign investors bought were EVA Airways Corp (長榮航空), Chunghwa Telecom Co (中華電信) and Evergreen Marine Corp (長榮海運), it said. As of Friday, the market capitalization of shares held by foreign investors was NT$18.48 trillion, or 40.77 percent of total market capitalization, it said.
Phoenix profit falls 15%
Silicon wafer recycler Phoenix Silicon International Corp (昇陽半導體) yesterday reported that net profit last month fell 15 percent annually to NT$24 million. That represented earnings per share of NT$0.17. Revenue grew 19.6 percent year-on-year to NT$254 million last month, the company said in a regulatory filing. Net profit in the second quarter rose 126.3 percent to NT$93 million, with earnings per share of NT$0.66, the company said. Phoenix Silicon released the earnings and revenue data at the request of the Taiwan Stock Exchange due to an unusual spike in its stock price. Its shares have surged about 26 percent since the beginning of the year.
CSC posts NT$4.3bn profit
China Steel Corp (CSC, 中鋼), the nation’s biggest steelmaker, yesterday reported NT$4.297 billion in pre-tax profit for last month, down 3.2 percent from a month earlier and 48.3 percent from a year earlier, as raw material prices continued to rise despite increased shipments. Pre-tax earnings per share were NT$0.27 in the month, it said. In the second quarter, it made NT$14.4 billion in pre-tax profit, sliding 0.7 percent from the previous quarter and 34.9 percent from a year earlier, with pre-tax earnings per share of NT$0.91, it said. In the first six months, pre-tax profit decreased 18 percent year-on-year to NT$28.902 billion, or NT$1.83 per share, it added.
FSC signs Israel MOU
The Financial Supervisory Commission (FSC) has signed a memorandum of understanding (MOU) with the Israel Securities Authority on bilateral cooperation. The MOU is to provide a framework for cooperation and referrals in financial technology, innovation and investment, the commission said on Wednesday. A referral mechanism under the MOU is expected to help referred innovator businesses gain a better understanding of the regulatory regimes in the different jurisdictions, the commission said.
TCC showcases new cement
Taiwan Cement Corp (TCC, 台灣水泥) last week unveiled its first commercially available ultra-high-performance concrete (UHPC) battery storage container, with the opening of a DC charging station at a 7-Eleven store in Tainan’s Anping District (安平). The store is to offer DC/DC power from Molicel-branded batteries housed within the container, TCC said. UHPC provides a high-quality alternative to traditional concrete or metal, while its compressive strength and fire resistance properties make it an excellent choice for battery storage, TCC said.
UNCONVINCING: The US Congress questioned whether the company’s Chinese owners pose a national security risk and how the app might influence young users TikTok chief executive officer Shou Chew (周受資), confronted with an unforgiving, distrustful US Congress, tried to give answers in his testimony on Thursday that avoided offending either the US government or China. However, his evasiveness left Congress unsatisfied, with representatives hungrier than ever to punish TikTok for ties to its parent company ByteDance Ltd (字節跳動), based in Beijing. He did not bring his company any closer to a resolution. Politically, TikTok is in a tougher spot. Its executives had been discussing divesting from ByteDance to resolve US national security concerns, people familiar with the matter told Bloomberg. However, China this week said
Sanofi SA’s drug Dupixent succeeded in a late-stage trial for chronic obstructive pulmonary disease (COPD), raising the odds that the blockbuster would be the first biologic medicine cleared to treat the lung disorder. Dupixent, which is already prescribed for asthma and some skin conditions, showed a 30 percent reduction in the rate at which patients’ COPD worsened compared with those who received a placebo during the stage-three Boreas trial, the company said in a statement yesterday. The positive data could herald a new era of cutting-edge treatments for the life-threatening respiratory affliction and provide another major boost in demand for the French
Microsoft Corp has threatened to cut off access to its Internet search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence (AI) chat products, people familiar with the dispute have said. The software maker licenses the data in its Bing search index — a map of the Internet that can be quickly scanned in real time — to other companies that offer Web search, such as Apollo Global Management Inc’s Yahoo and DuckDuckGo. Last month, Microsoft integrated a cousin of ChatGPT, OpenAI’s AI-powered chat technology, into Bing. Rivals
SEMICONDUCTOR EQUIPMENT: The international trade group said the sector would recover from a slump, with spending expected to rise 4.2 percent to US$24.9 billion Taiwan is to retain its position as the top spender on semiconductor front-end equipment and facilities next year, with spending expected to increase 4.2 percent year-on-year to US$24.9 billion, international trade group SEMI said yesterday. The spending forecast matches an expected recovery in global semiconductor equipment and facilities investment next year, it said. International equipment spending is to return to growth next year, SEMI said in a report, forecasting 21 percent growth to US$92 billion. The expansion would manly be driven by robust demand for semiconductors in the automotive and high-performance computing segments, the association said. “This quarter’s SEMI World Fab Forecast update