EQUITIES
Foreigners net buyers
Foreign institutional investors last week bought a net NT$46.83 billion (US$1.54 million) of local shares, after selling a net NT$32.46 billion the previous week, the Taiwan Stock Exchange said yesterday. The top three shares bought by foreign investors last week were Wistron Corp (緯創), Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and United Microelectronics Corp (聯電), while the top three sold by foreign investors were CTBC Financial Holding Co (中信金控), Cathay Financial Holding Co (國泰金控) and Shin Kong Financial Holding Co (新光金控), the exchange said in a statement. As of Friday, foreign investors had bought NT$194.3 billion of local shares since the beginning of this year, while the market capitalization of the shares held by foreign investors was NT$20.37 trillion, or 40.85 percent of total market capitalization, it said.
EXHIBITIONS
Trade show attracts 20,000
The Taipei Cycle Show and the Taipei International Sporting Goods Show, which closed on Saturday, attracted 5,400 international buyers from 81 countries, the organizer said in a statement. Being the first trade fair to physically welcome visitors from around the world after Taiwan reopened its borders, the joint show attracted about 20,000 visitors, up 71 percent from a year earlier, the Taiwan External Trade Development Council (TAITRA, 外貿協會) said. The top five buyer countries were Japan, South Korea, the US, Singapore and Germany, in that order, TAITRA said.
SEMICONDUCTORS
Sumitomo to invest NT$1bn
Sumitomo Bakelite (Taiwan) Co (台灣住友培科) has pledged to invest NT$1 billion in Taiwan to expand the production capacity of its semiconductor packaging materials, the Ministry of Economic Affairs said on Friday. The company has gained approval from the InvesTaiwan Service Center to participate in a government incentive program, as it plans to build new manufacturing facilities and install more production lines in Kaohsiung’s Dafa Industrial Park (大發工業區), the ministry said in a statement.
CHIPMAKERS
TSMC rewards executives
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has announced the issuance of 2.11 million shares to CEO C.C. Wei (魏哲家) and 24 other executives as part of its restricted stock awards (RSA) program this year. Wei received 400,000 restricted shares, which are worth about NT$215.6 million based on the company’s closing price of NT$539 on Friday, TSMC said in a statement. The company’s RSA program saw it issue 2.11 million restricted shares, which link employees’ compensation to shareholders’ interests and environmental, social and governance achievements.
HOSPITALITY
FIH unveils dividend plan
Formosa International Hotels Group (FIH, 晶華國際酒店) last week said that it plans to distribute a cash dividend of NT$9 per share, up from last year’s NT$7.09 per share. The proposal came after the hospitality service provider reported that net profit last year increased 30.37 percent annually to NT$1.02 billion, while revenue rose 13.51 percent to NT$5.6 billion. FIH said its food and beverage sales last year beat the pre-pandemic figures by double percentages and that business at its flagship property Regent Taipei (台北晶華酒店) recovered to 90 percent of the pre-pandemic level.
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
NEXT GENERATION: The company also showcased automated machines, including a nursing robot called Nurabot, which is to enter service at a Taichung hospital this year Hon Hai Precision Industry Co (鴻海精密) expects server revenue to exceed its iPhone revenue within two years, with the possibility of achieving this goal as early as this year, chairman Young Liu (劉揚偉) said on Tuesday at Nvidia Corp’s annual technology conference in San Jose, California. AI would be the primary focus this year for the company, also known as Foxconn Technology Group (富士康科技集團), as rapidly advancing AI applications are driving up demand for AI servers, Liu said. The production and shipment of Nvidia’s GB200 chips and the anticipated launch of GB300 chips in the second half of the year would propel
‘MAKE OR BREAK’: Nvidia shares remain down more than 9 percent, but investors are hoping CEO Jensen Huang’s speech can stave off fears that the sales boom is peaking Shares in Nvidia Corp’s Taiwanese suppliers mostly closed higher yesterday on hopes that the US artificial intelligence (AI) chip designer would showcase next-generation technologies at its annual AI conference slated to open later in the day. The GPU Technology Conference (GTC) in California is to feature developers, engineers, researchers, inventors and information technology professionals, and would focus on AI, computer graphics, data science, machine learning and autonomous machines. The event comes at a make-or-break moment for the firm, as it heads into the next few quarters, with Nvidia CEO Jensen Huang’s (黃仁勳) keynote speech today seen as having the ability to
WAIT-AND-SEE: Last month’s consumer price index came in at 2.8%, which boosts expectations that the Fed would proceed cautiously to lower inflation sustainably The US Federal Reserve is widely expected to keep interest rates unchanged at its policy meeting this week, treading carefully amid uncertainty over US President Donald Trump’s economic policies, which include spending cuts and sweeping tariffs. Since January, Trump has imposed levies on major trading partners Canada, Mexico and China, and on steel and aluminum imports, roiling financial markets and fanning fears that his plans could tip the world’s biggest economy into a recession. The Trump administration has also embarked on unprecedented cost-cutting efforts that target staff and spending, while the US president has promised tax reductions and deregulation down the road. However,
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