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☆ Asian chip stocks fall on ASML's disappointing forecast, possible U.S. export cap
▼ + stars: | 2024-10-16 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

Asian chip stocks fell on Wednesday after Dutch semiconductor equipment maker ASML posted disappointing sales forecasts, driving down global stocks in the sector. South Korean chipmaking heavyweight SK Hynix, which manufactures high bandwidth memory chips for AI applications for Nvidia, traded 1.6% lower. Net bookings for the September quarter were 2.6 billion euros ($2.83 billion), the company said — well below the 5.6 billion euro LSEG consensus estimate. Nvidia fell 4.7% and AMD lost 5.2%. In its June-quarter earnings presentation, ASML said that 49% of its sales come from China.

Persons: ASML, Foxconn —, Roger Dassen, — Ryan Browne Organizations: Tokyo, Renesas Electronics, Taiwan Semiconductor Manufacturing Company, Hai Precision Industry, SK Hynix, Nvidia, Samsung Electronics, Nikkei, AMD, Bloomberg, Biden Locations: Korean, Taiwan, ASML, Veldhoven, Netherlands, China

☆ Asian semiconductor stocks rise after shares of AI chip darling Nvidia hit a record high
▼ + stars: | 2024-10-15 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Asian chip stocks rose on Tuesday after Nvidia closed at a record high overnight as the chip company continues to ride the massive artificial intelligence wave. Stocks tied to Nvidia suppliers as well as other chip companies advanced as the bullish investor sentiment spilled over. Shares of South Korean chipmaker SK Hynix, which manufacturers high bandwidth memory chips for AI applications, for Nvidia surged 2.5%. Samsung Electronics, which is expected to be manufacturing HBM chips for some Nvidia products, saw its shares rise 0.5%. Japanese semiconductor manufacturing firm Tokyo Electron surged 5%, testing equipment supplier Advantest gained 3.6% and Renesas Electronics rose over 4%.

Persons: Stocks Organizations: Nvidia, Korean chipmaker SK Hynix, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Hai Precision Industry, Tokyo, Advantest, Renesas Electronics, SoftBank Group

☆ Taiwan says four iPhone maker staff detained in China under 'strange' circumstances
▼ + stars: | 2024-10-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

TAIPEI — Four employees of Taiwan's Foxconn, the world’s largest iPhone assembler, have been detained in China under "quite strange" circumstances, Taiwan’s government said. "The circumstances of this case are quite strange," it said. The Mainland Affairs Council said Foxconn had stated the company had "suffered no losses and that the four employees had done nothing to harm the company’s interests." Calls to China's Taiwan Affairs Office seeking comment outside of office hours went unanswered. China claims democratically governed Taiwan as its own territory, over the strong objections of the government in Taipei.

Persons: Taiwan's Foxconn, Taiwan’s, Foxconn Organizations: TAIPEI —, Mainland Affairs Council, Reuters, Mainland Affairs, Taiwan Affairs Office Locations: TAIPEI, China, China's Zhengzhou, Taiwan, Beijing, Taipei

☆ Taiwan says four Foxconn employees detained in China
▼ + stars: | 2024-10-10 | by ( ) edition.cnn.com time to read: +1 min

Taipei, Taiwan Reuters —Four employees of Taiwan’s Foxconn, the world’s largest iPhone assembler, have been detained in China under “quite strange” circumstances, Taiwan’s government said. The council said Foxconn had stated the company had “suffered no losses and that the four employees had done nothing to harm the company’s interests.”“This has seriously damaged the confidence of companies. Calls to China’s Taiwan Affairs Office seeking comment outside of office hours went unanswered. In June, Taiwan’s government raised its travel warning for China, telling its citizens not to go unless absolutely necessary, following a threat from Beijing to execute those deemed “diehard” Taiwan independence supporters. China claims democratically governed Taiwan as its own territory, over the strong objections of the government in Taipei.

Persons: Taiwan’s Foxconn, Taiwan’s, ”, Foxconn, “ Organizations: Taiwan Reuters —, Mainland Affairs Council, Reuters, Taiwan Affairs Office Locations: Taipei, Taiwan, China, China’s Zhengzhou, Henan, Beijing

☆ Stocks making the biggest moves midday: Nvidia, DocuSign, Alibaba, Las Vegas Sands and more
▼ + stars: | 2024-10-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

China stocks – U.S.-listed shares of Chinese companies fell after Beijing's economic planning agency failed to announce any new major stimulus plans . Online video company Bilibili fell 13%, while automaker Nio and Temu parent PDD tumbled about 6% each. Humana — Shares jumped 2.8% after Bernstein upgraded the beaten-down health insurance company to outperform, even though it substantially decreased its price target. Roblox — Shares fell 4% after Hindenburg Research disclosed a short position on the gaming platform, alleging the company inflated metrics. BTIG upgraded Affirm to buy , with analyst Vincent Caintic lauding the company's growth compared to traditional payment companies like American Express.

Persons: Bilibili, Nio, Young Liu, Blackwell, Bernstein, Roblox, David Byrnes, Byrnes, Jefferies, there's, BTIG, Vincent Caintic, CNBC's Michelle Fox, Hakyung Kim, Pia Singh, Sean Conlon, Alex Harring Organizations: U.S, Vegas Sands, Wynn Resorts, MDU Resources, Super, Nvidia, CNBC, Hindenburg Research, Waters, Jefferies, American Locations: China, Vegas, Macau

☆ Hon Hai Chairman: India has huge market potential
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHon Hai Chairman: India has huge market potentialYoung Liu, Chairman of Hon Hai Technology Group, says he sees Foxconn's production in India growing sharply over the coming years. He also talks about diversifying production amid geopolitical risks, such as potential Trump tariffs.

Persons: Hai, Young Liu Organizations: Hon Hai Technology Group Locations: India

☆ Foxconn chairman says AI investment boom 'still has some time to go' as language models evolve
▼ + stars: | 2024-10-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The boom in corporate investment into artificial intelligence infrastructure still has some way to go as large language models are continuing to evolve, according to the CEO of Foxconn , a key supplier to Apple . This type of AI is referred to in the industry as "AGI," or Artificial General Intelligence. Liu said that progress toward increasingly intelligent AI can only be a good thing for the AI server industry, which has been a key boon to Foxconn's growth this year. "I think for the AI server industry, I think we still have some time to grow," Liu added. "With the AGI capability growing, the age [of] AI devices will be another industry we should watch carefully."

Persons: Emily Tan, Foxconn Young Liu, Liu, OpenAI, Sam Altman, he's Organizations: Apple, Intelligence, CNBC, Microsoft

☆ Stocks making the biggest moves premarket: DocuSign, Wynn Resorts, Nvidia and more
▼ + stars: | 2024-10-08 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

China stocks – U.S.-listed shares of Chinese companies fell after China's state planner Zheng Shanjie failed to announce any new economic stimulus plans . Online video company Bilibili tumbled more than 13%, while automaker Nio and Temu parent PDD each fell more than 9%. E-commerce companies JD.com and Alibaba also fell nearly 9% and 7%, respectively. Wells Fargo – The bank rose more than 1% after Wolfe Research upgraded the lender to outperform from peer perform. Humana – Shares rose nearly 1% after Bernstein upgraded the health insurer to outperform from market perform.

Persons: Zheng Shanjie, Bilibili, Nio, Alibaba, Young Liu's, Liu, Wells, Bernstein, Oppenheimer, LSEG, —, Jesse Pound, Brian Evans, Michelle Fox Theobald Organizations: U.S, Wynn Resorts, China, MDU Resources, Nvidia, Blackwell, Wolfe Research, Microsoft –, PepsiCo –, Gatorade, Frito, PepsiCo Locations: China, Las, Macau, Wells

☆ Foxconn chairman talks fourth quarter guidance and AI investment boom
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFoxconn chairman talks fourth quarter guidance and AI investment boomYoung Liu, chairman of Foxconn, which trades as Hon Hai locally in China and Taiwan, says he believes the boom "still has some time to go" as AI continues to evolve and become more intelligent.

Persons: Young Liu, Hai Locations: China, Taiwan

☆ Foxconn beats estimates with record third-quarter revenue on AI demand
▼ + stars: | 2024-10-06 | by ( ) www.cnbc.com time to read: +2 min

Taiwan's Foxconn , the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the third quarter on strong demand for artificial intelligence servers. Revenue for Apple's biggest iPhone assembler jumped 20.2% year on year to 1.85 trillion Taiwanese dollars ($57.3 billion). "The result exceeded the company's original expectations of significant growth," Foxconn said in a statement on Saturday. Strong AI server demand led to robust revenue growth for its cloud and networking products division, said Foxconn whose customers include AI chip firm Nvidia NVDA.O. It has scheduled its annual Tech Day on Oct. 8-9, an event where Foxconn normally announces new products or partnerships.

Persons: Taiwan's Foxconn, Foxconn Organizations: Apple's, Nvidia, Apple, Tech Locations: Taiwan

☆ CNBC's Inside India newsletter: Will India's lofty manufacturing ambitions bear fruit?
▼ + stars: | 2024-09-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +8 min

This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Its intent was clear: to develop India's manufacturing capabilities in sectors like automotives, electronics, pharmaceuticals and aerospace while creating opportunities for locals. India's manufacturing sector has seen "remarkable" growth says, Samir Kapadia, founder and CEO of B2B marketplace India Index. "These infrastructural shifts in India have improved connectivity within and outside the country putting India at a very different playing field than it was 10 years ago when 'Make in India' started," Kapadia told CNBC's Inside India. India vs. other emerging marketsWhile India looks to poach China's manufacturing share, other countries like Indonesia, Vietnam, Bangladesh and Mexico are also stiff competitors.

Persons: Wistron, Narendra Modi, Foxconn, Samir Kapadia, Kapadia, CNBC's, U.S . Franklin Templeton's Yi Ping Liao, Liao, Deveshwar Organizations: Tata Group, Indian, Apple, Dixon Technologies, Kia, Divi's, Novartis, GSK, Merck, China, U.S ., TS Lombard, Inside, Mutual Fund Locations: India, China, Silicon Valley, Bengaluru, Kolar, Doddaballapura, Foxconn, Kia India, Anantapur —, Indonesia, Vietnam, Bangladesh, Mexico, Asia, Inside India, Brazil

☆ Asian chip-related stocks rally on renewed AI optimism after Nvidia CEO comments
▼ + stars: | 2024-09-12 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., speaks during an event in Taipei, Taiwan, on Sunday, June 2, 2024. Asian chipmaking heavyweights extended Wall Street's rally as Nvidia CEO Jensen Huang made bullish comments about the AI darling's outlook. Stocks tied to Nvidia suppliers and semiconductor related companies rallied in Asia as the bullish investor sentiment spilled over. Contract chip manufacturer Taiwan Semiconductor Manufacturing Corp jumped as much as 5% and Hon Hai Precision Industry — known internationally as Foxconn — gained over 4%. Japanese chip-related stocks also soared, including semiconductor testing equipment supplier Advantest which gained over 9%.

Persons: Jensen Huang, Goldman Sachs, Huang, Stocks, — Organizations: Nvidia Corp, Nvidia, Goldman, Technology Conference, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, TSMC, Tokyo, SoftBank Group, Samsung Electronics, SK Hynix Locations: Taipei, Taiwan, San Francisco, Asia, South Korea

☆ China's property woes and U.S. sanctions have hit some cities hard
▼ + stars: | 2024-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — China's property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing's tech push, Milken Institute's best performing cities China index showed Tuesday. Since 2015, the index has studied China's large- and mid-sized cities for their economic vibrancy and growth prospects. The index looked at a group of 33 large cities and a group of 217 small cities, then ranked them separately. Historically, Wong pointed out, having control of Zhengzhou, Hefei, and Wuhan have been critical to ensuring control of the country. Correction: This story has been updated to reflect that there are 33 large cities and 217 smaller cities in the index.

Persons: Milken Institute's, Perry Wong, Wong Organizations: CNBC ., U.S, CNBC, Wuhan Locations: HANGZHOU, CHINA, China Vanke, Hangzhou, Zhejiang province, China, BEIJING, Zhejiang, Zhuhai, Guangdong, Hong Kong, Dongguan, The, Shenzhen, Beijing, Zhengzhou, Henan province, Hefei, Wuhan, Anhui, Central China's Hubei

☆ Why Cramer advises against running out to buy Nvidia's post-earnings stock dip
▼ + stars: | 2024-08-28 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

Jim doesn't see a need to step in first thing Thursday morning and buy the dip. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. Quarterly commentary During Nvidia's fiscal second quarter, better-than-expected sales were driven by strength in all key segments, including a Data Center segment revenue record. Regarding China, Kress said, "Data Center revenue in China grew sequentially in Q2 and is a significant contributor to our Data Center revenue. Guidance Taking a closer look at guidance, Nvidia's fiscal third quarter may not have beaten the Street's estimates by the magnitude some were hoping for, but it's far from disappointing.

Persons: Lindy, Triple Lindy, Jensen Huang, Hopper, Blackwell, Jim Cramer, Jim doesn't, Colette Kress, Kress, it's, inferencing, ChatGPT, Cloud prem, Nvidia Isaac, Jim Cramer's, Jim, Andrej Sokolow Organizations: Nvidia, Revenue, Triple, Moore's, Hopper, Blackwell, Amazon Web Services, Google, Enterprise, Devices, Intel, Apple, Data Center, Networking, Management, Data, Centers, Automotive, Siemens, Nvidia Blackwell, Mercedes, Benz, Nvidia Omniverse, CNBC, Getty Locations: China, Boston, Silicon Valley

☆ Apple supplier Foxconn's second-quarter profit rises 6% on AI boom
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: 1 min

Apple supplier Foxconn reported on Wednesday a 6% rise in second-quarter net profit, driven by strong AI server demand as the company touted "strong growth momentum" from the technology boom. The Taiwanese company, the world's largest contract electronics maker, said net profit for the April-June quarter rose to 35.05 billion New Taiwan dollars ($1.09 billion) from NT$33 billion in the same period the previous year. That beat analysts' average estimate of NT$34.29 billion. It was the firm's fourth consecutive quarterly profit rise. The company said AI servers accounted for more than 40% of its server business in the second quarter, saying its next generation AI computing solution has brought "strong growth momentum."

Locations: Taiwan

☆ CNBC Daily Open: Wall Street rebounds, investors to monitor earnings and inflation data
▼ + stars: | 2024-08-12 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on May 31, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia markets climb higherAsia-Pacific markets were mostly higher on Monday ahead of U.S. economic data later in the week. [PRO] Distinct marketWhile U.S. and Japanese indexes fell sharply amid recent volatility, the MSCI China index rose slightly, reinforcing China's distinct market status despite slower growth.

Persons: Disney, Indiana Jones, Donald Trump, Sen, Elizabeth Warren, Elon Musk, Elon Musk's, Warren, Tesla, Robyn Denholm, Musk, Hai Precision Industry —, —, Australia's, Hong Organizations: New York Stock Exchange, CNBC, Wall, Dow Jones, Nasdaq, Magic, Hollywood, Inc, Animal Kingdom, Trump, Trump Media, SpaceX, Twitter, Hai Precision Industry, SK Hynix, China's CSI, U.S Locations: New York City, U.S, Magic Kingdom, Disney's California, Friday's, Asia, Pacific, Taiwan, Australian, China

☆ Crypto firm Ledger hikes prices of iPod-inspired wallet by 40% and launches new mid-tier option
▼ + stars: | 2024-07-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

The Ledger Flex is a new, cheaper hardware crypto wallet from French startup Ledger. Ledger finally released Stax, its long-anticipated hardware crypto wallet, and is shipping units out to people who preordered the product in May. In addition to raising the price for Stax, Ledger is also releasing a new crypto hardware wallet. The Ledger Flex features an E Ink screen, similar to the Ledger Stax. The Ledger Flex, which costs $249, is smaller than the Ledger Stax and comes with a 2.8-inch display.

Persons: Stax, Ledger, Tony Fadell, Ledger Stax, Pascal Gauthier, Ledger's Stax, Ledger's Gauthier, Foxconn Organizations: Stax, Ledger, Flex, Google, CNBC, Apple Locations: Ledger, solana, London, Vietnam

☆ CNBC Daily Open: Tech rebounds, CrowdStrike tumbles, Wiz rejects Google
▼ + stars: | 2024-07-23 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wiz walks awayCloud security startup Wiz rejected a $23 billion acquisition offer from Google, opting instead to pursue an IPO. The move allows Warner Bros. to retain some of its NBA broadcasting rights. However, the NBA may not want Warner Bros. as a media rights partner and could reject the company's matching rights, which could lead to a legal tussle.

Persons: Kamala Harris, Russell, CrowdStrike, George Kurtz, Mark Green, Andrew Garbarino, Wiz, Hai Precision Industry —, Hong Organizations: New York Stock Exchange, CNBC, Tech, Nvidia, Nasdaq, Dow Jones Industrial, Homeland Security, Microsoft, Delta Air Lines, Google, NBA, Warner Bros, Discovery, National Basketball Association, Amazon Prime, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, CSI, U.S Locations: New York City, U.S, Asia, Pacific, Taiwan

☆ Morgan Stanley hikes price targets for Asian stocks it says will benefit from greater iPhone demand
▼ + stars: | 2024-07-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Increased shipments of Apple's iPhones will be a key "volume driver" for the supply chain, according to Morgan Stanley. But the situation is set to change, with Apple Intelligence predicted to be a "key iPhone replacement driver." It raised its price targets for several stocks in the Apple supply chain. Largan reported first-quarter revenue that was below expectations but Morgan Stanley believes that was the trough. Morgan Stanley said Genius has a "good chance" of making a breakthrough in the periscope high-end lens segment in the second half of this year.

Persons: Morgan Stanley, Hon Hai, Hai, Luxshare's, Max, Morgan, Largan, Genius, CNBC's Michael Bloom Organizations: Apple Intelligence, Apple, Max, AAC Locations: Asia, Taiwan, India, Zhengzhou, China

☆ Forget the Magnificent 7: UBS just refreshed its 'Super 8' list of global stock picks
▼ + stars: | 2024-07-16 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

But for those looking for alternatives, UBS has refreshed its list of "highest conviction and most investable" tech stocks in Asia. So far, UBS' Asian Super 8 has gained 8.3% since its inception in February, beating the 6.7% returned by the benchmark MSCI Asia-Pacific index. "We believe the valuation discount across the value chain in Asia's technology sector offers a defensive catch-up play for investors," UBS' analysts wrote. Tencent has been making headlines recently, with several analysts bullish, including Goldman Sachs , which included the stock in its conviction list. The company, which also goes by the name Foxconn, is expecting over 40% year-on-year growth in its AI server sub-segment this year, UBS' analysts noted.

Persons: Tencent, Goldman Sachs, Hon Hai Taiwan's, Hai, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, UBS, Hong Kong Stock Exchange, U.S, Hai Precision Industry, Taiwan Stock Exchange, Lenovo Lenovo, Lenovo, Hong Kong Exchange Locations: Asia, China, U.S

☆ The 4 Apple suppliers set to pop on iPhone 16 series launch: BofA
▼ + stars: | 2024-07-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"A solid iPhone replacement cycle and spec upgrade should help HH's better sales/earnings in 2025-26," the investment bank's analysts wrote. The bank expects the China-based design and manufacturing giant to see strong margins as demand for its casings increases in tandem with better iPhone shipment cycles between 2025 and 2026. "We lift Foxconn Industrial Internet (FII)'s 2024-26E earnings by 2-6% on potentially better iPhone casing sales and strong AI server contribution," the analysts wrote. "We expect BYDE's casing profitability to gradually improve on better operation efficiency (higher automation rate, improving yield)," the analysts wrote. They have lifted the company's 2025-2026 earnings expectations by 2% to "reflect potentially better iPhone volume, robust auto expansion as well as rising AI-related contribution (server, robot)."

Persons: Ming, Chi Kuo, Ross Young, Hai, BofA, Foxconn, — CNBC's Michael Bloom Organizations: Tech, Apple, Bank of America, Hai Precision Industry, Taiwan Stock Exchange, American Depository, New, Industrial, Taiwan Stock Exchanges, U.S . Its, Shenzhen Stock Exchange, China 5G, Semiconductor, Hong Kong Exchange, Hong Locations: U.S, New Taiwan, China, Shanghai, Taiwan, U.S . Its Shanghai, Hong Kong

☆ Soaring U.S. stocks make China’s market look worse than it is. Names to watch
▼ + stars: | 2024-07-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland China investors these days are often focused on how well U.S. stocks are doing — and bemoaning tepid performance at home. But a look at first-half performance shows that many China stocks still rose by double-digits, including a few artificial intelligence plays. Zhongji Innolight Ranking third in CSI 300 performance in the first half was Zhongji Innolight, which climbed 70%. Nomura rates Zhongji Innolight a buy and its analysts met with the optical communication company in late June. The broad mainland China stock market, measured in Class A shares, has underperformed over the past two years, said Wanda Wang, a research manager at Morningstar.

Persons: BofA, Nomura, Wanda Wang, That's, Invesco's, — CNBC's Michael Bloom Organizations: Nvidia, CSI, Apple, Foxconn, Bank of America Securities, Industrial, FII, Avary Holding, Avary, Chartered Bank, HSBC, JPMorgan, Nomura, Nasdaq, U.S, Morningstar, Capital, Shenzhen Stock Exchange Locations: China, Shanghai, Shenzhen, Avary Holding Shenzhen, Hong Kong

☆ Indian officials visit Foxconn iPhone plant, question executives about hiring, Reuters reports
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +2 min

Indian labor officials visited a Foxconn factory in the country's south this week and questioned executives about the company's hiring practices, Reuters reported. Narasaiah said Foxconn told the labor officials the factory employs 41,281 people, including 33,360 women. He added that the labor inspectors interviewed 40 married women inside the plant, who raised no concerns about discrimination. Foxconn HR sources and third-party hiring agents cited family duties, pregnancy and higher absenteeism as reasons for not hiring married women. The reporting also found that Taiwan-based Foxconn relaxes the practice of not hiring married women during high-production periods.

Persons: Foxconn, Narendra Modi's, Narasaiah Organizations: Reuters, Apple, government's Regional, Labour Locations: Chennai, Tamil Nadu, Taiwan

☆ Taiwan tops Asia's best-performing stock markets so far in 2024 — Japan is No. 2
▼ + stars: | 2024-07-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

A screen displays stock figures at the Taiwan Stock Exchange Corp. headquarters in Taipei, Taiwan, on Monday, Jan. 15, 2024. The Taiwan Weighted Index has surged 28% so far this year, powered by stocks along the AI value chain. While Taiwan may lead Asian markets, Japan seems to be the favored market going forward, among analysts who spoke to CNBC. While most Asian markets are in positive territory year-to-date, three stock markets — Thailand, Indonesia and the Philippines — fell into negative territory. The CME FedWatch tool indicates that 61% of traders expect the Fed to cut rates by 25 basis points in the September meeting.

Persons: Foxconn —, Hai Precision Industry —, Rahul Ghosh, Rowe Price, Ghosh, Ben Powell, Powell, Neel Kashkari, Ken Orchard Organizations: Taiwan Stock Exchange Corp, Bloomberg, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, Intelligence, Nikkei, CNBC, BlackRock Investment Institute, Bank of Japan, Federal, U.S, Fed, Minneapolis Federal Locations: Taipei, Taiwan, Asia, Pacific, Japan, BlackRock, Thailand, Indonesia, Philippines, Jakarta, Philippine, U.S

☆ Modi's government calls on Indian state to look into report on Foxconn hiring
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +1 min

Indian Prime Minister Narendra Modi's government on Wednesday said it has asked the Tamil Nadu state to submit a "detailed report" after a Reuters story revealed that Apple supplier Foxconn rejected married women from iPhone assembly jobs in the country. Indian Prime Minister Narendra Modi's government on Wednesday said it has asked the Tamil Nadu state to submit a "detailed report" after a Reuters story revealed that Apple supplier Foxconn rejected married women from iPhone assembly jobs in the country. The ministry said it has requested a detailed report from the Labor Department of Tamil Nadu, site of a major iPhone factory where Reuters uncovered Foxconn's practice of shunning married women from jobs. The Labor Ministry said it also directed the office of the Regional Chief Labor Commissioner to provide a "factual report." The Tamil Nadu state government did not immediately respond to Reuters' request for comment outside office hours.

Persons: Narendra Modi's, Foxconn Organizations: Indian, Apple, government's Ministry of Labor, Labor Department of Tamil, Reuters, Labor Ministry, Regional Chief Labor Locations: Tamil, Labor Department of Tamil Nadu, India, Chennai, Tamil Nadu

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