Asian stocks open mixed with US Treasuries, dollar steady

TOKYO, July 17 — Asian equities opened mixed as investors evaluated whether earnings can deliver on high expectations against a backdrop of trade tensions. Treasuries and the US dollar were steady ahead of testimony from Federal Reserve Chairman…

Broadcom to buy CA Technologies for US$18.9b cash

NEW YORK, July 20 — Broadcom Inc, a semiconductor maker whose acquisitions have reshaped the chip industry, agreed to acquire CA Technologies for US$18.9 billion (RM75.9 billion) in cash, branching out into corporate software to diversify its…

Wall Street snaps four-day rally, latest trade threat weighs

NEW YORK, July 12 — US stocks fell yesterday, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional US$200 billion (RM803 billion) worth of Chinese goods fanned trade war fears, while a sharp drop in…

Wall Street slides as US-China trade war escalates

NEW YORK, July 11 — US stocks slid today amid a broad selloff on escalating trade war tensions after the United States threatened to impose tariffs on an additional US$200 billion (RM804.7 billion) worth of Chinese goods. Washington yesterday…

Technology goes from ‘neutral’ to ‘overweight’

PETALING JAYA: AmInvestment Bank Bhd upgraded its stance on the technology sector to “overweight” from “neutral” given its positive outlook on the sector over the next six months.

Its top picks for the sector are Inari Amertron Bhd and Malaysian Pacific Industries Bhd (MPI).

In its report today, the research firm said that the industry’s earnings for the second half of the year (2H 2018) would be driven by sensors, radio frequency (RF) chips and operational efficiencies.

In 2H 2018, AmInvestment said the sector’s key theme should revolve around connected cars, smart homes and automation, which paints a positive outlook for sensor and RF chip manufacturers, automated equipment manufacturers and companies looking to improve operational efficiencies through automation.

“In the smartphone segment, while sales volume is plateauing in developed markets, sensor and RF content continues to increase. Overall, the earnings prospects are looking positive for local semiconductor companies,” it added.

Meanwhile, AmInvestment said among the key beneficiaries during the second half period are Inari Amertron, MPI, Unisem and Globetronics given sensors and RF are imperatives in a connected world.

The research firm also noted that Inari Amertron and MPI are among the beneficiaries of the government’s announcement in Budget 2018 to provide matching grants and capital allowances to support automation initiatives.

It said prospects of ViTrox Corp and Pentamaster Corp are also exciting amid the rising adoption of automation.

Additionally, AmInvestment said its “overweight” stance on the sector may be further strengthened if there is a change in the US dollar outlook for the better; the semiconductor companies under its coverage (Inari, MPI and Unisem) secure new jobs of significance; and/or share prices correct by 15% to 20%.

However, it noted that among the key risks include the lukewarm demand for end-products owing to weak economic conditions; monotonous content growth in underlying products in the absence of innovation; and margin erosion in the face of a weakening US dollar.

“If such risks materialise, we may downgrade our stance on the sector from ‘overweight’ to ‘neutral’,” it added.

China’s tariff response takes effect as Trump ignites trade war

BEIJING, July 6 — US President Donald Trump fired the biggest shot yet in the global trade war by imposing tariffs on US$34 billion of Chinese imports. China said its retaliatory tariffs are now in effect, and argued it had been forced to act….

Samsung says Q2 profit likely grew 5.2pc, slowest pace in over 12 months

SEOUL, July 6 — South Korean tech giant Samsung Electronics Co Ltd estimated today earnings would grow at the slowest pace in more than a year in the second quarter, as analysts said weak smartphone sales likely offset record high chip earnings….

Wall Street takes some knocks but still standing as Trump tariffs loom

SAN FRANCISCO, July 6 — Fears of a global trade war have left Wall Street bruised but not beaten as the Trump administration yesterday moved closer to enacting tariffs on US$34 billion  (RM137.4 billion) worth of Chinese imports and Beijing…

Tech leads Wall Street higher as trade fears ebb

NEW YORK, July 5 — US stocks ticked higher today on signs that Washington may dial back on plans for tariffs on European cars, soothing some worries about trade even as China looked set to face US tariffs. Technology stocks led the gains, with…

Osram to embark on high-end LED technology in Malaysia

KUALA LUMPUR: German-based light-emitting diode (LED) chip company Osram Opto Semiconductors (M) Sdn Bhd is looking to embark on advanced lighting technology in Malaysia, particularly for automotive applications as it sees huge growth potential in the market.

“There is more and more of real high-end (lighting) applications needed (in Malaysia) such as pixel headlights in cars for instance and we see that as a huge opportunity for us,” its CEO Dr Ronald Mueller said at the handover ceremony of equipment worth RM2.4 million by Osram to four public universities today.

The universities are Universiti Malaya, Universiti Sains Malaysia, Universiti Malaysia Perlis (UniMAP) and National University of Malaysia (UKM).

Malaysian Investment Development Authority (Mida) deputy CEO Arham Abdul Rahman said as of May this year, Osram’s accumulated investment in Malaysia amounted to RM4.6 billion, with a local spending of RM500 million, supporting close to 600 local vendors.