EQUITIES
TAIEX closes up 62.96 points
The TAIEX yesterday closed higher despite turnover remaining thin ahead of the conclusion of a US Federal Reserve policymaking meeting later in the day. The bellwether electronics sector continued to drive gains on the broader market after recouping earlier losses, as uncertainty over the Fed’s decision weakened old economy and financial stocks. The TAIEX closed up 62.96 points, or 0.48 percent, at the day’s high of 13,100.17, Taiwan Stock Exchange data showed. Turnover on the main board totaled NT$154.277 billion (US$4.8 billion), with foreign institutional investors selling a net NT$519 million of shares on the main board, the exchange said.
ELECTRONICS
HTC posts NT$980m net loss
HTC Corp (宏達電) on Tuesday reported that losses expand in the third quarter despite efforts to develop new virtual reality devices and extend its reach to the emerging “metaverse” concept. In the July-to-September period, HTC posted a net loss of NT$980 million, compared with NT$748 million in the second quarter, with losses per share of NT$1.19. In the first nine months of the year, HTC’s losses per share were NT$3.01, compared with NT$2.86 a year earlier. Gross margin improved to 39.4 percent from 39.2 percent in the second quarter after consolidated sales rose 7.2 percent from a quarter earlier to NT$1.08 billion, company data showed.
LOGISTICS
ITIC to invest in Willbox
An investment arm of the Hsinchu-based Industrial Technology Research Institute (工業技術研究院) is to invest NT$153 million to help Japanese digital logistics start-up Willbox enter the Taiwanese market. Industrial Technology Investment Corp (ITIC, 創新工業技術移轉) is supporting Willbox due to its ability to fuse information technology with logistics upgrades, ITIC president Michel Chu (瞿志豪) said on Tuesday. The Yokohama-based start-up plans to set up a branch in Taiwan next year, with the aim of helping local firms looking to integrate logistics resources. Willbox executive Satoi Wang (王哲瑋) said he has been in talks with more than 70 logistics service providers serving Taiwan’s four major commercial ports to forge business opportunities for both sides.
CONSTRUCTION
CHC posts NT$2.65bn profit
Continental Holdings Corp (CHC, 欣陸投控) on Tuesday reported NT$2.65 billion in net profit for the first three quarters of the year, representing record-high earnings per share of NT$3.21, as revenue soared 41.5 percent year-on-year to NT$24.48 billion. The Taipei-based group attributed the growth to improvement at its three business units — Continental Development Corp (CDC, 大陸建設), HDEC Corp (欣達環工) and Continental Engineering Corp (大陸工程). CDC, its real-estate development arm, registered the most advancement among the three units after recognizing profits from the sale of a luxury apartment complex in Taipei, CHC said.
SEMICONDUCTORS
TSMC preps Arizona fab
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is next month to hold a ceremony to install the first batch of production equipment in its Arizona fab, the chipmaker said on Tuesday. TSMC said the step represents a milestone for the company’s US expansion, about 18 months after the start of construction. It said the first batch of advanced equipment would be installed in the plant, which is expected to enter mass production in 2024.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
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