Foreigners sell more shares
Foreign investors last week sold a net amount of NT$107.81 billion ($3.63 million) in local stocks after selling a net amount of NT$41.45 billion the week before, said the Taiwan Stock Exchange in a statement yesterday. On Friday, foreign investors had sold NT$890.04 billion in local stocks since the start of the year, the exchange said. The top three stocks sold by foreign investors last week were United Microelectronics Corp (聯電), Yuanta Financial Holding Co (元大金控) and Taiwan Semiconductor Manufacturing Co (台積電), while the top three stocks bought by foreign investors were Innolux Corp (群創光電), CTBC Financial Holding Co (中信金控) and Unmicron Technology Corp (欣興電子), he said. On Friday, the market capitalization of stocks held by foreign investors was NT$19.61 trillion, or 40.34 percent of the total market capitalization, it said.
Hotai signs a “green” agreement
Hotai Finance Co (和潤企業), a car loan and insurance services unit of Hotai Motor Co (和泰汽車), yesterday signed a sustainability-related loan agreement with 18 banks to promote investments in green energy and achieve net zero carbon emissions. The three-year NT$15 billion syndicated loans were led by CTBC Bank (中國信託銀行), Hotai Finance said, adding that it signed NT$24 billion in sustainability-related loans over the past two years. last years.
TSMC Kids School Plans
An international school in Japan plans to build additional space to accommodate an expected influx of Taiwanese students when Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) completes a new factory in Kumamoto Prefecture, according to a report. When TSMC begins mass production at its first factory in Japan in December 2024, around 600 Taiwanese employees and their families, including 150 schoolchildren, are expected to move to Kumamoto, state broadcaster NHK reported on Friday. The international school will start building a space of around 3,500 m2 later this year, which it aims to complete by 2024, NHK said.
Cathay launches eye policy
Cathay Life Insurance Co (國泰人壽) launched the country’s first eye-related insurance policies on Wednesday, as the number of Taiwanese affected by eye diseases rises due to the growing use of cellphones and electronic devices. The new product covers policyholders against four major eye conditions: cataracts, glaucoma, macular degeneration and retinal detachment, he said. The company said it will compensate policyholders once they need to undergo surgery. However, the new product would only be available to people between the ages of 40 and 70, he said.
Ta Chen overall optimistic
Ta Chen Stainless Pipe Co (大成不銹鋼) said yesterday that it remains positive about its long-term business outlook, although it faces short-term headwinds due to fluctuating commodity prices. Ta Chen said aggressive interest rate hikes by the US Federal Reserve would affect consumer demand in the near term, but would not have a significant impact on the business as it is primarily focused on engineering, infrastructure and industrial markets. The American market represents nearly 80% of the company’s total sales. Shareholders yesterday approved the company’s dividend payout of NT$1.9 per share, with a payout ratio of 32.99% based on last year’s earnings per share of NT$5.76.
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