Business
Taiwan Business Quick Take – Taipei Times
EQUITIES
Foreigners are always net buyers
Last week, foreign investors bought NT $ 7.02 billion net (US $ 253.8 million) of local stocks after buying NT $ 26.46 billion net the week before, the Taiwan Stock Exchange reported yesterday in a statement. The top three stocks bought by foreign investors last week were Shin Kong Financial Holding Co (), Yang Ming Marine Transport Corp () and CTBC Financial Holding Co (), while the top three stocks sold were United Microelectronics Co (), AU Optronics Corp () and Innolux Corp (), said the exchange. As of Friday, the market capitalization of stocks held by foreign investors stood at NT $ 22.83 trillion, or 44.21% of the total market capitalization, he said.
EQUITIES
Trading will not stop
The Taiwan Stock Exchange said yesterday that it would not cease operations even if the country faces a growing number of locally transmitted COVID-19 cases. It is important to keep capital markets functioning well, the exchange said in a statement, adding that it has a comprehensive business continuity plan and has implemented both home and offsite work as a measure of precaution. In addition, there are also two backup trading systems in separate locations to protect uninterrupted trading, the exchange said. With the cooperation of listed companies and market participants, the exchange firmly believes that capital markets can provide the reliable support the economy needs in this COVID time, he said.
PLASTIC COMPONENTS
IKKA shares soar when they debut
Shares of IKKA Holdings (Cayman) Ltd (), a maker of precision plastic injection molded components, rose 125% yesterday when it debuted on the Taiwan Stock Exchange. IKKA, registered in the British Cayman Islands, is the first Japanese company to have a principal listing in Taiwan. Its shares opened at NT $ 152, from an initial offer price of NT $ 76, and continued to climb before closing at NT $ 159, up 109.21%. There are no restrictions on daily price movements for newly listed stocks. Auto parts account for 60.9% of IKKA’s sales, with Japanese companies such as Toyota Motor Corp, Honda Motor Co and Nissan Motor Co. among its customers.
DISPLAY DRIVERS
FocalTech’s net profit increases
FocalTech Systems Co (), a supplier of drivers and driver integrated circuits for touch screens used in flat panel displays, yesterday reported April net profit of NT $ 721 million, up 2,937% from the previous year. previous year, or earnings per share of NT $ 3.34. The company’s revenue grew 102% year-over-year to NT $ 1.91 billion, the highest level in the company’s history, thanks to higher prices and shipments, a declared FocalTech. Revenues in the first four months increased 62.43 percent to NT $ 6.26 billion, while net profit was NT $ 1.56 billion, or earnings per share of NT $ 7.58 NT.
SHIPPING
Wan Hai orders new ships
Wan Hai Lines Ltd () said yesterday that it has placed an order for four container ships with South Korea’s Samsung Heavy Industries Co for an amount between NT $ 13.08 billion and NT $ 13.8 billion while the company planned to adjust its fleet to meet its business needs. The four 13,100-unit 20-foot-equivalent container ships are due for delivery from the second quarter of 2023, Wan Hai said. The price includes potential improvements to the equipment on the ships, he said.
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