PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Hon Hai Precision Industry (2317 TT) Q4 (TWD) net fell 2% Y/Y to 45.21bln, rev. rose 22% Y/Y to 2.61tln; FY net rose 24% Y/Y to a record 189.35bln, rev. rose 18% Y/Y to a record 8.10tln
TAIWAN
Hon Hai Precision Industry (2317 TT) - Co. Q4 (TWD) net fell 2% Y/Y to 45.21bln, rev. rose 22% Y/Y to 2.61tln; FY net rose 24% Y/Y to a record 189.35bln, rev. rose 18% Y/Y to a record 8.10tln, Co. expects AI server rack shipments to grow at a "high double-digit" pace sequentially in the first quarter of this year. (Focus Taiwan)
Other News
Cathay Financial raised its forecast for Taiwan’s GDP growth this year to 5.8% from 3%, citing strong momentum driven by artificial intelligence-related exports and investment demand. (Taipei Times)
SINGAPORE
Singapore Airlines (SIA SP) - Co. low-cost unit Scoot reported Feb. passenger traffic rose 17.4% Y/Y to 3bln RPKs; SIA Group Feb. passenger traffic rose 3.8% Y/Y to 12.3bln RPKs. (Business Times)
Singapore Telecommunications (ST SP) - Co. mobile services were restored after an eight-hour outage on Monday, while the cause was unknown, although the Co. said it was not a cyberattack. (Business Times)
Yangzijiang Shipbuilding (YZJSGD SP) - UK High Court dismissed an appeal by claimants seeking USD 832.2mln from three wholly owned subsidiaries of the group. (Business Times)
Hon Hai Precision Industry's Q4 results reflect a mixed performance, with a slight decline in net profit but strong revenue growth, indicating robust demand, particularly in AI-related sectors. Their forecast for high double-digit growth in AI server rack shipments suggests a positive outlook and the potential to drive future earnings, reinforcing the trend seen in Taiwan's GDP forecast adjustment, where growth expectations have been boosted significantly due to AI investments. Watch for market reactions in both Taiwanese equities and related sectors tied to technology and export growth.