Taipei Times | Taiwan Business Quick Take
EQUITIES
TAIEX jumps 170.09 points
The TAIEX yesterday rose sharply by about 170 points, as the bellwether electronics sector continued to gain momentum on the back of a rally by US tech stocks at the end of last week. Contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) drove the broader market, while downstream tech stocks, flat-panel makers and some large-cap old-economy stocks also attracted buying interest, dealers said. The TAIEX ended up 170.09 points, or 1.04 percent, at 16,475.97, on turnover of NT$323.26 billion (US$11.32 billion). Foreign institutional investors bought a net NT$8.74 billion of shares on the main board, Taiwan Stock Exchange data showed.
EQUITIES
Foreigners sell TSMC, CAL
Foreign investors last week sold a net NT$39.68 billion of shares after selling a net NT$45.03 billion a week earlier, the Taiwan Stock Exchange said yesterday. The top three stocks sold by foreign investors were Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), China Airlines Ltd (CAL, 中華航空) and Pegatron Corp (和碩), while the top three bought were HannStar Display Corp (瀚宇彩晶), Cathay Financial Holding Co (國泰金控) and Innolux Corp (群創), the exchange said in a statement. As of Friday last week, the market capitalization of shares held by foreign investors was NT$22.32 trillion, or 44.87 percent of total market capitalization, it said.
COMPUTERS
Clevo net profit falls 37.9%
Computer maker Clevo Co (藍天電腦) yesterday reported that net profit last year fell 37.9 percent annually to NT$667 million, while revenue dipped 8 percent to NT$20.2 billion. Earnings per share were NT$1.12, down from NT$1.75 in 2019. The company’s board of directors has proposed to distribute a cash dividend of 0.6 per share, representing a payout ratio of 53.57 percent. The company said that laptop shipments last year rose 8 percent year-on-year to 1.52 million units, while laptop sales increased 5 percent to NT$16.2 billion, despite shortages of key components. As distance learning remains strong and high-end models are likely to benefit from replacement demand, laptop shipments this year are expected to rise 15 percent to 1.75 million units, it said.
RESTAURANTS
TTFB net profit rises 2.5%
Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團), which operates six restaurant chains in Taiwan and China, yesterday reported that net profit last year increased 2.5 percent year-on-year to NT$369 million. Earnings per share were NT$15.95, a record high, it said. Tai Tong said that it is upbeat about its outlook for the year and plans to accelerate store expansion plans in Taiwan. The company’s board of directors has proposed to distribute a cash dividend of NT$14.5 per share, which represents a payout ratio of 90.91 percent and a dividend yield of 6.6 percent based on yesterday’s closing share price of NT$241.5.