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The chipmaker now expects to spend $32 billion to $36 billion, versus $36.3 billion in 2022, and sees first-quarter revenue in a range of $16.7 billion to $17.5 billion, compared with $17.57 billion a year earlier. "We expect the whole industry to drop slightly but TSMC to grow slightly" in 2023, he said. It reiterated on Thursday slower demand was a cyclical issue and 2023 overall would be a slight growth year for the company. For October-December, TSMC booked record net profit of T$295.9 billion ($9.72 billion) from T$166.2 billion a year earlier. Revenue climbed 26.7% to $19.93 billion, versus TSMC's prior estimated range of $19.9 billion to $20.7 billion.

☆ TSMC Q4 profit rises 78%, beats market expectations
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, Jan 12 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) posted a 78% rise in fourth-quarter net profit on Thursday, as strong sales of advanced chips helped it defy a broader industry downturn that battered cheaper commodity chips. Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , the world's largest contract chipmaker and a major Apple Inc (AAPL.O) supplier, saw net profit for October-December rise to T$295.9 billion ($9.72 billion) from T$166.2 billion a year earlier. TSMC's business has been boosted by a global chip shortage that was sparked by pandemic-fuelled sales of smartphones and laptops. Revenue for the fourth quarter climbed 26.7% to $19.93 billion, versus TSMC's prior estimated range of $19.9 billion to $20.7 billion. Shares in TSMC fell 27.1% in 2022, but are up 8.5% so far this year giving the company a market value of $412.78 billion.

☆ TSMC Q4 profit rises 78%, helped by advanced chip sales
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , the world's largest contract chipmaker and a major Apple Inc (AAPL.O) supplier, saw net profit for October-December hit a record T$295.9 billion ($9.72 billion) from T$166.2 billion a year earlier. TSMC's business has been boosted by a global chip shortage sparked by pandemic-fuelled sales of smartphones and laptops. While the shortage has eased, analysts said dominance in making some of the world's most advanced chips has kept the firm's order book full. Revenue for the quarter climbed 26.7% to $19.93 billion, versus TSMC's prior estimated range of $19.9 billion to $20.7 billion. The firm said it spent $36.29 billion on capital expenditure in 2022, compared to a previous forecast of around $36 billon.

☆ Taiwan exports fall for 4th month in December, decline seen extending into Q1
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +3 min

Exports dropped 12.1% by value last month from a year earlier to $35.75 billion, the lowest in 20 months, the Ministry of Finance said on Saturday. That followed a 13.1% drop in November, and was slightly better than Reuters poll forecast for a 13.3% contraction. Taiwan's total exports of electronics components in December fell 1.4% to $16.04 billion, with semiconductor exports up 0.8% from a year earlier. At $14.28 billion in December, Taiwan's exports to China, the island's largest trading partner, were down 16.4% from a year ago, after suffering a 20.9% drop in November. December's exports to the United States were down 2.6%, compared with an 11.3% contraction recorded the previous month.

☆ Taiwan offers China help again to deal with COVID surge
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/StaffTAIPEI, Jan 6 (Reuters) - Taiwan has again offered to provide China with assistance to help it deal with a surge in COVID-19 cases but Chinese authorities have not yet responded, official Taiwan media reported late on Thursday. Victor Wang, Head of Taiwan's Central Epidemic Command Centre, told the official Central News Agency it sent an email to Chinese authorities this week and asked how Taiwan could help with the surge of cases in China. Rising cases in China has sparked concerns from the World Health Organisation that Beijing was under-reporting virus deaths. Wang said Taiwan has also sent an email to China in early December to "remind" authorities there about an community outbreak and severe cases among children. Taiwan and China have repeatedly sparred over their respective measures to control the spread of COVID.

☆ Apple supplier Foxconn says December revenue fell 12.3% y/y
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, Jan 5 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker, on Thursday said revenue in December dropped 12.3% year-on-year after production problems related to COVID-19 controls at a major iPhone factory in China's Zhengzhou. The company in a statement said production at the major iPhone factory in China "basically returned to normal" in December. It did not elaborate. Reporting by Sarah Wu and Yimou Lee; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. warship sails through sensitive Taiwan Strait
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Hugh Gentry/File PhotoWASHINGTON, Jan 5 (Reuters) - A U.S. warship sailed through the sensitive Taiwan Strait on Thursday, part of what the U.S. military calls routine activity but which riles China. "Chung-Hoon’s transit through the Taiwan Strait demonstrates the United States’ commitment to a free and open Indo-Pacific," the statement added. The narrow Taiwan Strait has been a frequent source of military tension since the defeated Republic of China government fled to Taiwan in 1949 after losing a civil war with the communists, who established the People's Republic of China. The United States has no formal diplomatic relations with Taiwan, but is bound by law to provide the island with the means to defend itself. The close encounter followed what the United States has called a recent trend of increasingly dangerous behavior by Chinese military aircraft.

☆ Former NATO boss urges countries to show China consequences if it attacks Taiwan
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

[1/3] Former NATO Secretary-General Anders Fogh Rasmussen speaks to the media at a press event in Taipei, Taiwan, January 5, 2023. REUTERS/Ann WangTAIPEI, Jan 5 (Reuters) - Democratic countries should make it clear the "severe economic consequences" China would face should it move against self-governed Taiwan, the former NATO secretary-general said during a visit to the island on Thursday. China, which claims Taiwan as its own despite strong objections of the democratic island, has been ramping up pressure on Taiwan to assert its sovereignty claims, including almost daily Chinese air force missions near the island over the past three years. China reserves the right to use force to bring Taiwan under its control if necessary. "All those who believe in a democratic Taiwan and rule- based international order must work to ensure Ukraine prevails.

☆ U.S. warship sails through sensitive Taiwan Strait; China angered
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Hugh Gentry/File PhotoWASHINGTON, Jan 5 (Reuters) - A U.S. warship sailed through the sensitive Taiwan Strait on Thursday, part of what the U.S. military calls routine activity but which has riled China. "Chung-Hoon’s transit through the Taiwan Strait demonstrates the United States’ commitment to a free and open Indo-Pacific," the statement added. The narrow Taiwan Strait has been a frequent source of military tension since the defeated Republic of China government fled to Taiwan in 1949 after losing a civil war with the communists, who established the People's Republic of China. The United States has no formal diplomatic relations with Taiwan, but is bound by law to provide the island with the means to defend itself. The close encounter followed what the United States has called a recent trend of increasingly dangerous behavior by Chinese military aircraft.

☆ Taiwan to give cash payouts to citizens in 'New Year blessing'
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] People wearing face masks as precaution against the coronavirus disease (COVID-19) shop at a market in Keelung, Taiwan April 28, 2022. REUTERS/I-Hwa ChengTAIPEI, Jan 4 (Reuters) - Taiwan plans to give cash payouts of nearly $200 to every citizen this year, Premier Su Tseng-chang announced on Wednesday, saying the island's economic growth will be shared by everyone. Su said a total of T$140 billion, part of the tax revenue, would be spent as cash payouts and each citizen would get T$6,000 ($195.61). "We wish to give all citizens a New Year blessing after the beginning of the Lunar New Year," Su told reporters, referring to the week-long holiday that starts on Jan. 20. $1 = 30.6740 Taiwan dollars)Reporting By Yimou Lee and Jeanny Kao; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Foxconn Zhengzhou plant's Dec shipments hit 90% of original target - source
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, Jan 3 (Reuters) - December shipments from Foxconn's (2317.TW) Zhengzhou iPhone plant in China were 90% of the firm's initial plans, a source with direct knowledge of the matter said, as the facility strives to recover from its COVID-induced woes. Foxconn declined to comment. The world's largest iPhone manufacturing facility was hit late last year by a COVID-19 outbreak that prompted worker departures and unrest as well as production disruptions. Reporting by Yimou Lee in Taipei, Writing by Brenda Goh; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Foxconn's COVID-hit China plant close to resuming full production, sources say
▼ + stars: | 2023-01-03 | by ( Yimou Lee | ) www.reuters.com time to read: +2 min

TAIPEI, Jan 3 (Reuters) - Foxconn's COVID-hit iPhone plant in China's Zhengzhou city is almost back to full production, with its December shipments reaching about 90% of initial plans, two people with direct knowledge of the matter said. A company source told Reuters last month that it was aiming for the plant to resume full production around late December to early January. "Production has almost fully resumed," said one of the people on Tuesday, who declined to be identified as the information was private. The second person said production was nearly back to normal but that company officials remained cautious over the outlook due to a spike of COVID-19 cases across China. The Zhengzhou plant's troubles highlighted the difficulties companies and workers had in adhering to China's zero-COVID-19 policy.

☆ Foxconn's COVID-hit China plant close to resuming full production -sources
▼ + stars: | 2023-01-03 | by ( Yimou Lee | ) www.reuters.com time to read: +2 min

☆ TSMC starts volume production of most advanced chips in Taiwan
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

TAINAN, Taiwan, Dec 29 (Reuters) - Chipmaker Taiwan Semiconductor Manufacturing Company Ltd (TSMC)(2330.TW), began mass production of its most advanced chips in southern Taiwan on Thursday and the company's chairman said it would continue to expand capacity on the island. The long-awaited mass production of chips with 3-nanometre technology comes as attention focuses on the world's largest contract chipmaker's investment plans at home and abroad. TSMC has a dominant position as a maker of advanced chips used in technology from cellphones to fighter jets. Taiwan's government has dismissed concerns about a "goodbye to Taiwan" trend for the chip industry, saying the island's position as a major semiconductor producer and maker of the most advanced chips is secure. TSMC said it was working to build factories for the next generation 2-nanometre chips, which were planned to be manufactured in northern and central Taiwan.

☆ U.S. approves potential sale of anti-tank systems to Taiwan for $180 mln
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

Dec 28 (Reuters) - The U.S. State Department has approved the possible sale of Volcano anti-tank mine-laying systems to Taiwan for an estimated $180 million, the Pentagon said on Wednesday. Northrop Grumman and Oshkosh Corporation are the prime contractors for the potential sale. U.S. law requires the executive branch to notify Congress of potential arms sales that are over a certain amount. "The Chinese Communist Party's frequent military activities near Taiwan have posted severe military threats to us," the ministry said, adding that continuous U.S. military sales are the "cornerstone of maintaining regional stability and peace." Taiwan strongly rejects Beijing's sovereignty claim and says it will defend itself if attacked.

☆ Taiwan to test arrivals from China for COVID from Jan 1
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, Dec 28 (Reuters) - Taiwan will test arrivals from China for COVID-19 from Jan. 1 in response to a surge in cases there, the government said on Wednesday, joining other countries in stepping up controls on people coming from China. The government will conduct virus sequencing for those who arrive from China and test positive to track new variants of the coronavirus, it said in a statement. Those who test positive will be able to isolate at home, it said. Many of those Taiwanese who live in China traditionally return to Taiwan for the Lunar New Year holiday, which falls next month. Reporting by Yimou Lee; Writing by Ben Blanchard; Editing by Tom Hogue and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Taiwan to extend compulsory military service on China threat -government source
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +3 min

TAIPEI, Dec 27 (Reuters) - Taiwan will announce on Tuesday a plan to extend compulsory military service to one year from the current four months, according to a senior government official, as the island deals with rising Chinese military pressure. "China's various unilateral behaviours have become a major concern for regional security," said the person, who took part in the high-level security discussion. The official Central News Agency, citing government and ruling party sources familiar with the matter, first reported late on Monday that her government would on Tuesday announce the plan to extend compulsory military service. read moreChina also staged war games near Taiwan in August following a visit to Taipei by then-U.S. House Speaker Nancy Pelosi. China has stepped up its diplomatic, military and economic pressure in recent years on the self-governed island to accept Beijing's rule.

☆ Taiwan to extend compulsory military service on China threat - government source
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +3 min

☆ Taiwan says 43 Chinese air force planes crossed Taiwan Strait median line
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, Dec 26 (Reuters) - Forty-three Chinese air force planes crossed the Taiwan Strait's median line in the past 24 hours, Taiwan's Defence Ministry said on Monday, as Beijing continues its military activities close to the Chinese-claimed island. Taiwan, which strongly rejects China's sovereignty claims, said the drills showed Beijing was destroying regional peace and trying to cow Taiwan's people. The jets involved in the latest incursion briefly crossed the median line of the sensitive Taiwan Strait, an unofficial buffer, according to a map provided by Taiwan's defence ministry. Seven Chinese navy ships were also detected near Taiwan, the ministry said. Taiwan sent unspecified combat aircraft to warn away the Chinese planes, while missile systems monitored their flight, the ministry said, using standard wording for its response.

☆ Taiwan scrambles jets to warn away Chinese air force incursion
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, Dec 22 (Reuters) - Taiwan scrambled combat jets to warn away 39 Chinese aircraft that entered its southeastern air defence zone, the island's defence ministry said on Thursday. Taiwan has complained of repeated missions by the Chinese air force over the last two years, often in southern areas of its air defence identification zone, or ADIZ. Thursday's incursion included 21 fighters and four H-6 bombers, as well as early warning, antisubmarine and aerial refuelling aircraft, Taiwan's defence ministry said in a report detailing Chinese activities in its ADIZ over the last 24 hours. Three Chinese navy ships were also detected near Taiwan, the ministry said. Taiwan sent unspecified combat aircraft to warn away the Chinese planes, while missile systems monitored their flight, the ministry said, using standard wording for its response.

☆ Foxconn fine for unauthorised China investment likely to be imposed soon - source
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, Dec 19 (Reuters) - Foxconn (2317.TW), the world's largest contract electronics maker, is likely to be fined soon by Taiwan's government for an unauthorised investment in a Chinese chip maker, a person with direct knowledge of the situation said on Monday. Taiwan said on Saturday it would fine Foxconn over the investment. Taipei also prohibits companies from building their most advanced chip foundries in China to ensure they do not site their best technology offshore. Taiwanese law states the government can prohibit investment in China "based on the consideration of national security and industry development". Foxconn has been seeking to acquire chip plants globally as a worldwide chip shortage rattles producers of goods from cars to electronics.

☆ Foxconn expects full production at COVID-hit China plant late December to early January -source
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, Dec 5 (Reuters) - Apple supplier Foxconn (2317.TW) expects to see full production resume at a COVID-hit China plant around late December to early January, a source with direct knowledge told Reuters on Monday, after unrest at a major iPhone factory in China's Zhengzhou. Foxconn and the local government are working hard on the plant's recruitment drive but many uncertainties remain, the source said. The largest factory making Apple's iPhone has been grappling with strict COVID-19 restrictions that have fuelled discontent among workers and disrupted production ahead of Christmas and January's Lunar New Year holiday, as many workers were either put into isolation or fled the plant. Foxconn declined to comment. Reporting By Yimou Lee; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

[1/4] FILE PHOTO: The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. The plant owned by Taiwan-based Foxconn, battered by China's strict COVID restrictions and facing critical year-end holiday demand, was offering enticing hiring bonuses and excellent pay. Hou said he was promised up to 30,000 yuan ($4,200) for just under four months' work - far above the 12,000-16,000 yuan Foxconn workers usually get for four months. In a rare example of large-scale labour unrest in China, Foxconn workers in COVID masks clashed with security personnel in white hazmat suits holding plastic shields. The company previously apologised to workers for a pay-related "technical error" that it said occurred when it was hiring.

☆ Market watchers' comments on COVID-19 protests in China
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +6 min

Here's what market watchers are saying about the unrest:ALLAN VON MEHREN, CHIEF ANALYST, DANSKE BANK, COPENHAGEN:"Normally protests in China are aimed at local governments but a crowd in Shanghai directed their protest against the Communist Party and Xi Jinping." "The protests come as the recent tweaks in the zero-Covid policy seem to have backfired as they led to rising cases across the country that subsequently triggered new restrictions being implemented. MARK HAEFELE, GLOBAL WEALTH MANAGEMENT CIO, UBS, ZURICH:"We do not expect economic or market headwinds in China to abate significantly over the coming months. KEN CHEUNG, CHIEF ASIA FX STRATEGIST, MIZUHO, HONG KONG:"The China economy is heading to the direction of reopening but the road to the reopening could be a bumpy one. GARY NG, ECONOMIST, NATIXIS, HONG KONG:"The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category.

☆ Comments from market watchers on the COVID-19 protests in China
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +4 min

ALVIN TAN, ASIA FX STRATEGIST, RBC CAPITAL MARKETS, SINGAPORE:"The scale of the protests will necessarily elicit a response from Beijing. KEN CHEUNG, CHIEF ASIA FX STRATEGIST, MIZUHO, HONG KONG:"The China economy is heading to the direction of reopening but the road to the reopening could be a bumpy one. "Overall, the China Q4 growth outlook should remain grim given the COVID resurgence and the related mobility tightening. GARY NG, ECONOMIST, NATIXIS, HONG KONG:"The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. MARTIN PETCH, VICE PRESIDENT, MOODY'S INVESTORS SERVICE:"We expect the protests ... to dissipate relatively quickly and without resulting in serious political violence.

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