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☆ Asian shares fall after US tech falters, dollar and yields hold gains
▼ + stars: | 2023-07-21 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, heading for a weekly loss of 1.8%. China's bluechips (.CSI300) dipped 0.2% while Hong Kong's Hang Seng index (.HSI) bucked the trend with a gain of 0.4%. The onshore yuan was 0.2% higher at 7.1674 per dollar after the central bank set a much stronger guidance rate than expected. The U.S. dollar index was little changed at 100.78, after advancing 0.5% overnight, the biggest one-day gain since mid-May. The Australian dollar gave up almost all of its gains made after a strong local jobs data release to hover below 68 cents.

Persons: BOJ, Tesla, TSMC, China's, Wanda, Tony Sycamore, Stella Qiu, Lincoln Organizations: Netflix, Fed, ECB, Treasury, U.S . Federal Reserve, Bank of Japan, Japan's Nikkei, Authorities, Nasdaq, Tesla, IG, Microsoft, Apple, Meta, Federal Reserve, U.S, Australian, European Central Bank, TD Securities, Brent, . West Texas, Thomson Locations: SYDNEY, U.S, Asia, Pacific, Japan

☆ Tesla, ABB, TSMC get Q2 earnings off to downbeat start
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +4 min

The news cast a pall over stocks as second-quarter earnings season ramps up. ABB said its orders in China, its second-biggest market, fell 9% in the three months to the end of June, with its electrification, motion and robotics divisions all seeing lower demand. Analysts have warned easing input costs will put pressure on companies to start cutting prices, or they may lose business. Swedish hygiene product maker Essity's (ESSITYa.ST) second-quarter earnings missed market expectations, hit by wage inflation, bigger marketing costs in its consumer goods unit, and lower volumes after price hikes. Investors punished the companies' shares.

Persons: TSMC, Elon Musk, Aly, Musk, Electrolux, Josephine Mason, Sharon Singleton Organizations: ABB, LONDON, Nasdaq, Shanghai, REUTERS, Europe's, Investors, Netflix, Revenue, Reuters, Thomson Locations: China, Germany, Shanghai, Europe, lockdowns, United States

Shares of the electric car maker slid 3.1% in premarket trading after Musk's comments, even as Tesla beat quarterly profit estimates. Netflix (NFLX.O) fell 6.0% after the streaming video company's quarterly revenue forecast also fell short of estimates, while analysts said its new money-making ventures will take time to bring in returns. ET, Dow e-minis were up 61 points, or 0.17%, S&P 500 e-minis were down 4.25 points, or 0.09%, and Nasdaq 100 e-minis were down 98 points, or 0.61%. Investors also await weekly jobless claims data and existing home sales data for the month of June, due later in the day. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Johnson, Elon Musk, markdowns, Joshua Warner, Dow, Goldman Sachs, chipmaker TSMC, Bansari Mayur Kamdar, Johann M, Dhanya Ann Thoppil Organizations: Netflix, Dow, Nasdaq, U.S . Federal Reserve, Enterprise, IBM, Dow e, Airlines, Investors, Thomson Locations: U.S, Bengaluru

☆ TSMC flags 10% fall in 2023 sales, spending at low end of forecast
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

[1/2] A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018. The world's largest contract chipmaker estimated investment spending for this year at the lower end of a previous estimate of $32-$36 billion amid challenges from rising inflationary costs and an uncertain global economic outlook. For the second quarter ended June, TSMC, a major Apple Inc (AAPL.O) supplier, reported a 23.3% fall in net profit - beating forecasts - although it was its first on-year drop in quarterly profit since the second quarter of 2019 when it fell 7.6%. TSMC saw April-June net profit drop to T$181.8 billion ($5.85 billion) from T$237.0 billion a year earlier. TSMC, Asia's most valuable listed company, said second-quarter revenue dropped 13.7% year-on-year to $15.68 billion, in line with the company's previous forecast.

Persons: Tyrone Siu, TSMC, Refinitiv, Yimou Lee, Sarah Wu, Ben Blanchard, Jacqueline Wong Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Ltd, Apple Inc, Thomson Locations: Hsinchu, Taiwan, Arizona, TAIPEI, U.S, TSMC, China, Taipei

☆ Asia stocks gain; US futures slip after Netflix, Tesla earnings
▼ + stars: | 2023-07-20 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, July 20 (Reuters) - Asian stocks rose and sterling stumbled on Thursday as cooling UK inflation lifted risk appetite ahead of central bank meetings next week, while disappointing earnings results from Netflix and Tesla pushed U.S. futures lower. The Bank of England is due to meet in the first week of August but before that central bank meetings in Japan, Europe and the United States will likely grab investors' attention. Overnight, the Dow Jones Industrial Average and S&P 500 index rose modestly, with the blue-chip Dow registering its eighth straight day of gains. But futures fell in Asian trade, with E-mini futures for the S&P 500 0.15% lower and Nasdaq futures down 0.44%after earnings from streaming giant Netflix and EV maker Tesla. In commodities, Chicago wheat futures rose 1.4% to hit a three-week high on growing expectations that an attack on Ukrainian ports after Russia's withdrawal from a Black Sea export deal would have a longer-term impact on global supply.

Persons: Tesla, Hong, HSI, Sterling, Kazuo Ueda, Saira Malik, Malik, Elon Musk, TSMC, Brent, Ankur Banerjee, Sam Holmes Organizations: Netflix, Japan's Nikkei, Bank of England, Traders, European Central Bank, Bank of Japan, Federal, U.S, U.S . Federal, Dow Jones Industrial, Dow, Nasdaq, Tesla, Wall, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, Shanghai, Europe, United States, U.S ., Singapore

One senior Taiwan fund manger told Reuters that third quarter profit would bounce back given expectations for AI demand and launches of new iPhones ahead of the year-end holiday shopping season. The second quarter is traditionally a slow period for sales for the tech industry with demand usually picking up in the third quarter and towards the year-end shopping season. TSMC , Asia's most valuable listed company, posted a surprise rise in net profit for the quarter ended March, up 2% from a year earlier. The company will provide guidance for the third quarter and update previous forecasts on its earnings call at 0600 GMT on Thursday. ($1 = 30.9600 Taiwan dollars)Reporting by Faith Hung and Ben Blanchard Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: TSMC, TSMC's, Faith Hung, Ben Blanchard, Shri Navaratnam Organizations: TAIPEI, Taiwan Semiconductor Manufacturing Co, Nvidia, Reuters, Investment, EV, Thomson Locations: Taiwan, China, Taipei

☆ TSMC founder: Globalisation in technology takes backseat to national priorities
▼ + stars: | 2023-07-04 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

TAIPEI, July 4 (Reuters) - Globalisation is taking a backseat to priorities such as national security and technological leadership, with U.S.-China relations consisting more of competition than cooperation, the retired founder of Taiwanese chipmaker TSMC said on Tuesday. He has previously declared that globalisation in the chip sector dead. TSMC, Asia's most valuable listed company, is referred to in Taiwan as the "sacred mountain protecting the country" because of its economic importance. While TSMC has said its most advanced manufacturing will remain on the island, the company has ramped up expansion abroad in recent years. Beijing views democratically governed Taiwan as its own territory, a claim the government in Taipei strongly rejects.

Persons: chipmaker TSMC, Morris Chang, Chang, TSMC, Sarah Wu, Tom Hogue Organizations: U.S, Taiwan Semiconductor Manufacturing Co, Apple, Taiwan, Thomson Locations: TAIPEI, China, Taipei, Beijing, United States, Taiwan

☆ Chipmaker TSMC says supplier targeted in cyberattack
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - Taiwan Semiconductor Manufacturing Co (2330.TW) said on Friday that a cybersecurity incident involving one of its IT hardware suppliers has led to the leak of the vendor's company data. "TSMC has recently been aware that one of our IT hardware suppliers experienced a cybersecurity incident which led to the leak of information pertinent to server initial setup and configuration," the company said. TMSC confirmed in a statement to Reuters that its business operations or customer information were not affected following the cybersecurity incident at its supplier Kinmax. The TSMC vendor breach is part of a larger trend of significant security incidents affecting various companies and government entities. TSMC said it has cut off data exchange with the affected supplier following the incident.

Persons: TSMC, TMSC, Akriti Sharma, James Pearson, Shailesh Organizations: Taiwan Semiconductor Manufacturing, Thomson Locations: U.S

☆ TSMC sending more workers to speed up building of new Arizona plant
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden speaks with Chairman of TSMC Mark Liu during a visit to TSMC AZ's first Fab (Semiconductor Fabrication Plant) in P1A (Phase 1A), in Phoenix, Arizona, U.S. December 6, 2022. The first Arizona chip fabrication facility, or fab, is scheduled to be operational by 2024. TSMC did not disclose how many workers from Taiwan are currently in Arizona. The additions will not impact the 12,000 workers currently on-site every day or U.S.-based hiring, it added. While TSMC has said the bulk of its manufacturing, especially of the most advanced chips, will remain in Taiwan, it is also building a plant in Japan and considering another one in Germany.

Persons: Joe Biden, Mark Liu, TSMC, Jonathan Ernst, Biden, Ben Blanchard, Edwina Gibbs Organizations: REUTERS, Taiwan Semiconductor Manufacturing Co, Apple Inc, Nvidia Corp, TSMC's, Thomson Locations: P1A, Phoenix , Arizona, U.S, TAIPEI, Taiwan, ., Arizona, Japan, Germany, TSMC's Taipei

☆ TSMC expects H2 performance to be better than H1
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, June 6 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) said on Tuesday it expects its performance to be better in the second half of the year than the first. First half revenue is expected to drop 10% year-on-year in U.S. dollar terms, CEO C.C. Wei told the company's annual shareholders meeting. Reporting by Faith Hung and Ben Blanchard; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: TSMC, C.C, Wei, Faith Hung, Ben Blanchard, Jacqueline Wong Organizations: Thomson Locations: TAIPEI

☆ TSMC feeling 'good' about possible Germany plant, in talks on subsidies
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, June 6 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) is feeling "good" about talks over a possible first European factory in Germany and is discussing subsidies with the host country's government, the company's chairman said on Tuesday. TSMC, the world's largest contract chipmaker, has been in talks with the German state of Saxony since 2021 about building a fabrication plant, or "fab," in Dresden. Speaking at the company's annual shareholders meeting, Taiwan Semiconductor Manufacturing Co's Chairman Mark Liu said the company had already sent executives to Germany a few times for talks on the possible new plant. "So far the feeling is good," he said, adding there were some "gaps" in the supply chain and labour in Germany but these were being addressed. "We are still negotiating with Germany on subsidies, how much the subsidies will be, that there won't be conditions for the support.

Persons: TSMC, Mark Liu, Liu, Faith Hung, Ben Blanchard, Jacqueline Wong, Jamie Freed Organizations: European Union, EU, Taiwan Semiconductor Manufacturing, U.S ., Industry, U.S . Department of Commerce, Thomson Locations: TAIPEI, Germany, Saxony, Dresden, Asia, United States, U.S, Arizona

☆ Buffett sheds stake in TSMC, while Macquarie, Fidelity buy shares -filings
▼ + stars: | 2023-05-15 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

Macquarie added roughly 78 million new American Depositary Shares (ADRs) of TSMC to an existing position, and ended March with $7.3 billion in the company. Fidelity bought 14.1 million new shares, increasing its bet on the company to nearly $4 billion. Coatue Management, founded by Philippe Laffont, built a new position in the chipmaker as it bought 5.9 million shares, worth $548.9 million. U.S.-listed shares of TSMC have gained nearly 14.5% this year. Reporting by Carolina Mandl, in Sao Paulo; Editing by Ira Iosebashvili and Anna DriverOur Standards: The Thomson Reuters Trust Principles.

☆ Berkshire invests in Capital One, sheds four stocks
▼ + stars: | 2023-05-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Buffett's company made its disclosures in a regulatory filing listing its U.S.-traded stocks as of March 31. Capital One shares rose 5.7% in after-hours trading following Berkshire's disclosure of a 9.92 million share stake worth about $954 million. In Monday's filing, Berkshire also revealed a new $41.3 million stake in Diageo Plc (DGE.L), the maker of alcoholic beverages including Johnnie Walker and Guinness. BERKSHIRE BUYS MORE APPLE, BANK OF AMERICADespite the selling, Berkshire still invests in several financial services companies. Berkshire also has dozens of operating businesses including the BNSF railroad, Geico car insurance, and many energy, manufacturing and consumer units.

☆ TSMC added by Macquarie, Fidelity and Coatue after Buffett cut stake -filings
▼ + stars: | 2023-05-15 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

Their moves come roughly three months after Warren Buffett's Berkshire Hathaway (BRKa.N) unveiled it cut its position in Taiwan Semiconductor Manufacturing Co Ltd last year. Macquarie added roughly 78 million new American Depositary Shares (ADRs) of TSMC to an existing position, and ended March with $7.3 billion in the company. Fidelity bought 14.1 million new shares, increasing its bet on the company to nearly $4 billion. Coatue, founded by Philippe Laffont, built a new position in the chipmaker as it bought 5.9 million shares, worth $548.9 million. Reporting by Carolina Mandl, in Sao Paulo; Editing by Ira Iosebashvili and Anna DriverOur Standards: The Thomson Reuters Trust Principles.

May 1 (Reuters) - Longtime Kleiner Perkins partner Wen Hsieh is leaving the Silicon Valley venture capital establishment to start a fund with backing from the firm and Taiwanese chipmaker TSMC (2330.TW), sources told Reuters. Hsieh is in advanced talks to raise $200 million from limited partners including Kleiner Perkins and TSMC for the new fund called Matter Ventures. A Kleiner Perkins spokesperson confirmed Hsieh's departure and the firm's participation in the fund. Hsieh, with two PhDs from the California Institute of Technology, has worked at Kleiner Perkins for 17 years, leading investments in Chinese drone maker DJI and 3D printing company Desktop Medal (DM.N). He will remain on the boards of companies he invested in at Kleiner Perkins, including orthodontic brackets maker LightForce.

☆ Germany may restrict export of chip chemicals to China - Bloomberg
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

April 27 (Reuters) - Germany may limit the export of chemicals to China that are used to manufacture semiconductors as part of the government's efforts to reduce its economic exposure to the Asian economic superpower, Bloomberg news reported on Thursday. It would be the latest in steps under consideration by Germany as it reassesses ties with China. Merck KGaA (MRCG.DE) and BASF (BASFn.DE), two German chemicals majors who could be affected by the export curbs if implemented, declined comment. German Economy Minister Robert Habeck had in March suggested that Berlin could impose export restrictions to China to prevent Germany from losing its technological edge. "Export controls with regard to technology must be constantly checked, constantly expanded and constantly updated," a government spokesperson added at the time.

read moreTSMC forecast revenue of $15.2 billion to $16 billion in the quarter ending June 30, down from $18.16 billion a year prior. TSMC, Asia's most valuable listed company, said first-quarter revenue dropped 4.8% year-on-year, in line with the company's previous forecast. Net revenue from China grew to 15% from 12%, while net revenue from North America fell to 63% from 69%. read moreThe chipmaker forecast 2023 capital expenditure of $32-36 billion, unchanged from a previous estimate. CEO Wei said TSMC was evaluating the possibility of building a speciality fabrication plant in Europe for auto chips.

☆ Buffett says geopolitics a factor in Berkshire sale of TSMC stake
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Warren Buffett called geopolitical tensions "a consideration" in Berkshire Hathaway Inc's (BRKa.N) decision to sell most of its stake in Taiwanese chipmaker TSMC (2330.TW) just a few months after buying it, Nikkei reported on Tuesday. Berkshire had bought more than $4.1 billion of Taiwan Semiconductor Manufacturing Co's shares between July and September 2022, but in February said it had sold 86% of its stake by year-end. The size of the investment suggested that Buffett, rather than one of his Berkshire portfolio managers, had bought the shares for Berkshire, and the sale was unexpected given the billionaire's preference to invest for the long-term. In an interview with Nikkei, Buffett described TSMC as a well-managed company, but said Berkshire had better places to deploy capital. Buffett was in Japan to meet with five Japanese trading houses in which Berkshire invests.

☆ TSMC talking to US about CHIPS Act 'guidance' amid subsidy concerns
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 10 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) said on Monday it is communicating with Washington about its "guidance" for a law designed to boost U.S. semiconductor manufacturing that has sparked concerns about subsidy criteria. "We can confirm that we are communicating with the U.S. government about the CHIPS ACT guidance," TSMC, the world's leading contract chipmaker, said in a short emailed statement. Taiwan Economy Minister Wang Mei-hua told reporters on Monday that TSMC was specifically talking to the United States about the details of the subsidies. Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is investing $40 billion in a new plant in the western U.S. state of Arizona, supporting Washington's plans for more chip-making at home. The subsidies would come from a $52 billion pool of research and manufacturing funds earmarked under the CHIPS Act.

☆ German minister to visit Taiwan in test of China relations
▼ + stars: | 2023-03-17 | by ( Andreas Rinke | ) www.reuters.com time to read: +3 min

China views democratically-governed Taiwan as its own territory and has increased military, political and economic pressure to assert those claims. The politically sensitive visit will take place at a time when Berlin is reviewing its previously close ties with China. Bettina Stark-Watzinger, also of the FDP, will begin her visit early next week, a ministry spokesperson said. Speaking at a regular news conference in Berlin, the education ministry spokesperson said the agenda during Stark-Watzinger's visit will also include battery research and supply chains. Last year, China condemned a visit to Taiwan by then-U.S. House of Representatives Speaker Nancy Pelosi, the highest-level U.S. visit in 25 years, as a threat to peace and stability in the Taiwan Strait.

☆ TSMC's founder says he supports US efforts to slow China's chip advances
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, March 16 (Reuters) - The retired founder of Taiwanese chipmaker TSMC (2330.TW) said on Thursday that he supported U.S. efforts to slow down China's progress in chip manufacturing and predicted that there would be a "bifurcation" of global semiconductor supply chains. China was five or six years behind Taiwan in chip manufacturing, Morris Chang said at an event in Taipei. Reporting by Sarah Wu in Taipei, Writing by Brenda Goh; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: TSMC's Germany chip plant talks hone in on govt subsidies -sources
▼ + stars: | 2023-03-15 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

TSMC said in December that there was "no concrete plan" to build a chip factory in Germany. Saxony officials discussed the EU Chips Act with EU Commission President Ursula von der Leyen on March 6 in Brussels, according to the state government. Germany's economy ministry said it could not comment on individual company plans, but noted the federal government was willing to support and promote semiconductor production projects under the European Chips Act. TSMC's German factory, if is goes ahead, will likely produce less advanced chips, especially those used in the auto industry, the first person said. "These are the kinds of chips German industry needs," the person added.

WASHINGTON, Feb 23 (Reuters) - U.S. Commerce Secretary Gina Raimondo on Thursday said the government will encourage companies to build at least two advanced domestic computer chip factories employing thousands of union workers, as part of a $52.7 billion dollar initiative. The centers would also include a "robust supplier ecosystem," Raimondo said in a speech in Washington. "America needs to design and produce the world's most advanced chips right here in America," Raimondo said, adding that the United States leads in design but not manufacturing. Raimondo said the department planned to invest $11 billion in semiconductor research and development, including the creation of a public-private partnership she called the National Semiconductor Technology Center. The United States has some chip production, and signs of expansion despite a very tight labor market.

☆ Morning Bid: Interminable anxiety
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +4 min

The about-turn in rates markets in just two weeks has been extraordinary - with Fed funds futures pricing moving from a terminal rate as low as 4.8% to 5.26% on Wednesday. Two-year Treasury yields soared to a 3-month high of 4.64% on Tuesday - where current Fed rates sit - and only gave back a fraction of that on Wednesday. U.S. stocks held up remarkably well on Tuesday - helped by hopes recession fears are easing even as rate speculation intensifies. Sterling slipped as UK inflation fell faster than expected last month, even though the annual inflation rate remains in double digits. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Charlie Munger downplays risk of Taiwan invasion, says crypto fans are 'idiots'
▼ + stars: | 2023-02-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Feb 15 (Reuters) - Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc (BRKa.N), on Wednesday said China remains a top opportunity for investors despite geopolitical risks. Munger also doubled down on his recent Wall Street Journal editorial calling for the U.S. government to follow China and ban cryptocurrency, saying "people who oppose my position are idiots." Referring to Chinese President Xi Jinping and Russia's nearly yearlong invasion of Ukraine, Munger downplayed concern that China might invade Taiwan. Munger also called TSMC the "strongest semiconductor company on earth," though Berkshire recently cut its formerly $4.1 billion stake by 86%. Reporting by Jonathan Stempel in New York; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

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