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Taiwan Business Quick Take
Investors lock in earnings
The TAIEX closed little changed yesterday after investors locked in their earlier gains on the first trading session after the 228 Peace Memorial Day long weekend. Fears of possible further volatility on Wall Street and a likely continued increase in yields of US Treasury bills affected market sentiment, dealers said. The TAIEX ended down 6.92 points, or 0.04 percent, at 15,946.88, on turnover of NT$333.389 billion (US$11.77 billion). Foreign institutional investors sold a net NT$6.78 billion of shares on the main board yesterday.
LIQUOR
KKL increases prices
Kinmen Kaoliang Liquor Inc (KKL, 金門酒廠) yesterday announced a 6 to 12 percent price hike for some of its products, effective immediately. It is its first price hike in nine years. The firm, which boasts a share of more than 80 percent of Taiwan’s white spirits market, said it made the decision to reflect production cost increases. Many of the company’s regio
Taiwan Business Quick Take
TAIEX continues to rise
The TAIEX yesterday extended its momentum from a session earlier, increasing sharply to close above 15,700 points. Market attention focused on the bellwether electronics sector, as investors were encouraged by a strong showing in the tech-heavy NASDAQ overnight and rushed to pick up semiconductor stocks, in particular contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), dealers said. The benchmark index closed up 349.96 points, or 2.27 percent, at 15,760.05, on turnover of NT$306.734 billion (US$10.8 billion). TSMC rose 3.44 percent to close at NT$632. In the first two sessions of this week, TSMC bounced back by 6.94 percent after a plunge of 8.94 percent last week. Foreign institutional investors yesterday bought a net NT$9.29 billion of shares on the main board after a net buy of NT$14.59 billion a day earlier, Taiwan Stock Exchange data showed.
Taiwan Business Quick Take
Investors lock in gains
The TAIEX yesterday closed lower in a volatile session, as investors shifted to the sell side to lock in earlier gains amid concerns over the attitude of foreign institutional investors who have increased short-term futures contracts in recent sessions, dealers said. Market sentiment has also been affected by an increase in domestic COVID-19 cases related to a hospital in Taoyuan, with many investors fearing that an escalation of the disease would hamper economic activity, they said. However, contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remained resilient, preventing the broader market from falling further, they added. The TAIEX ended down 71.19 points, or 0.45 percent, at 15,806.18, on turnover of NT$414.877 billion (US$14.601 billion). Foreign institutional investors sold a net NT$21.55 billion of shares on the main board, Taiwan Stock Exchange data showed. TSMC shares finished up 3.19 percent to clo
Taiwan Business Quick Take
Sercomm sales hit NT$3bn
Telecom equipment maker Sercomm Corp (中磊) yesterday reported revenue of NT$3.31 billion (US$116.43 million) for last month, down 8.62 percent month-on-month and 0.57 percent year-on-year. However, revenue last quarter increased 11 percent year-on-year and 12 percent quarter-on-quarter to NT$10.58 billion, setting a company record, Sercomm said. For the whole of last year, revenue was NT$36.1 billion, up 13.54 percent from NT$31.8 billion in 2019, it said, attributing the increase to the remote-working and distance-learning trends amid the COVID-19 pandemic, as market demand for faster data transmission and larger bandwidth increases.
RESTAURANTS
Hi-Lai sees record revenue
Restaurant operator Hi-Lai Foods Co Ltd (漢來美食) yesterday reported that revenue last month saw record growth for a sixth consecutive month, reaching NT$357 million. Up 3 percent annually, the month lifted last quarter’s sales 6 percent from a ye