PRE-MARKET TAIWAN & SINGAPORE STOCK NEWS: ASMedia Tech (5269 TT) is developing high-speed data transmission chips for AI servers, edge AI devices, robots and autos; Nasdaq dropped post-hawkish FOMC, but futures rebound overnight on US-Iran MoU signing

TAIWAN

ASMedia Technology (5269 TT) - Co. is developing high-speed data transmission chips for AI servers, edge AI devices, robots and automobiles, and is aiming to grow revenue to USD 800mln by 2030. (Taipei Times)

SinoPac Financial Holdings (2890 TT) - Co. said it remains on track for another record year after net income rose 96% Y/Y to TWD 20.29bln in the first five months. (Taipei Times)

TSMC (2330 TT) - Taiwan Intellectual Property Office Director-General Liao Cheng-wei said he suspects two firms suing the Co. for patent infringement are patent trolls. (Taipei Times)

Tech - Losses in tech and communications stocks dragged the Nasdaq lower following the hawkish FOMC, although futures rebounded overnight with the Emini Nasdaq 100 reclaiming the 30k level after reports that the US and Iran signed the MoU agreement.

Other News

Taiwan’s Tourism Administration announced incentives of up to TWD 8,000 for repeat international visitors to boost inbound tourism. (Taipei Times)

Taiwan is set to see a surge in arms deliveries in the second half of this year, with up to eight major weapons systems expected to be delivered or commissioned. (Taipei Times)

Taiwan’s Minister of Economic Affairs Kung Ming-hsin said GDP growth could exceed 10% this year due to robust AI-related demand and stronger-than-expected exports. (Taipei Times)

Cathay Financial Holding raised its Taiwan GDP growth forecast for this year to 10.1% from 5.8%, citing stronger-than-expected exports and investment. (Taipei Times)

SINGAPORE

Far East Group (5TJ SP) - Co. acquired 705k shares in Eden Refrigeration Manufacturing (Jiangsu), representing 7.1% of issued and paid-up share capital, increasing its equity interest to 91.3% upon completion. (Business Times)