China said yesterday it would soon launch a stock index covering 500 firms listed in China, Hong Kong and Taiwan to enhance financial cooperation in the Greater China region.
China Securities Index Co (中證指數公司), established by China’s two bourses in Shanghai and Shenzhen, will start to publish the CSI Cross-Straits 500 Index on Jan. 18, the company said in a statement.
Following the signing of three memorandums of understanding between China and Taiwan in November, “the cooperation in financial sectors across the straits [sic] is now entering a substantial phase,” it said.
The documents — on banking, insurance and securities — are expected to help pave the way for Taiwan’s finance industry to gain greater access to the huge Chinese market and open up the possibility of more investment activity.
The new index “caters to investors’ need to observe and invest in markets in the three places and provides a basic instrument for developing index-related products and derivatives,” the statement said.
A number of domestic and overseas institutions are making “proactive” preparations to develop investment products based on the new index for the Greater China region, it added, without giving more details.
The company will publish the index denominated in yuan, US dollars, Hong Kong dollars and New Taiwan dollars, while the components will have a combined market value of about 3.2 trillion yuan (US$468.5 billion).
It covers 75 percent of the total market capitalization of the stock markets in China, Hong Kong and Taiwan, and 53 percent of the combined trading volume.
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing
TARIFF TRADE-OFF: Machinery exports to China dropped after Beijing ended its tariff reductions in June, while potential new tariffs fueled ‘front-loaded’ orders to the US The nation’s machinery exports to the US amounted to US$7.19 billion last year, surpassing the US$6.86 billion to China to become the largest export destination for the local machinery industry, the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會) said in a report on Jan. 10. It came as some manufacturers brought forward or “front-loaded” US-bound shipments as required by customers ahead of potential tariffs imposed by the new US administration, the association said. During his campaign, US president-elect Donald Trump threatened tariffs of as high as 60 percent on Chinese goods and 10 percent to 20 percent on imports from other countries.
RSS