PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Foxconn (2317 TT) Feb (TWD) rev. rose 8.1% Y/Y to 596.8bln
TAIWAN
Foxconn (2317 TT) - Co. Feb (TWD) rev. rose 8.1% Y/Y to 596.8bln (prev. 730bln in January, +36% Y/Y) and said visibility into Q1 aligns with market expectations. (Newswires)
Data Recap
- Taiwan Industrial Production YY (Jan) 28.5% (Prev. 23.1%)
- Taiwan FX Reserves (USD)(Feb) 605.5B (Prev. 604.5B)
SINGAPORE
CapitaLand Ascott Trust (CLAS SP) - Co. will be replaced by SIA Engineering (SIE SP) on the reserve list of the Straits Times Index effective Mar 23. (Business Times)
Hongkong Land (H78 SP) - Co. FY (USD) net profit rose to 1.3bln (prev. net loss 1.4bln Y/Y), underlying profit fell 8% Y/Y to 458mln, rev. fell to 1.4bln (prev. 2bln Y/Y). (Business Times)
Foxconn's revenue growth of 8.1% year-over-year signals solid performance despite a sequential dip from January, while its outlook for Q1 meets market expectations. This aligns with Taiwan's broader industrial strength as demonstrated by a significant rise in industrial production, suggesting a positive environment for manufacturers. Traders should monitor how this performance impacts investor sentiment in related sectors and equities moving forward.