TSMC, a key Apple supplier and the world's largest contract chipmaker, said profit soared by 76% in the April-June period, to T$237 billion ($7.9 billion)
Shares of struggling developers dropped further on Friday as homebuyers' refusal to repay loans on partly built apartments outweighed government assurances to get projects completed on time
``If there comes a massive wave of home auctions, prices will crash,'' said Gavekal Dragonomics. "Both social stability and financial stability will be endangered in the worst case."
The CSI300 Bank index fell as much as 3.3% in early trading, its lowest since March 2020, hitting banks and developers as the 'Stop Mortgage Repayment' protest spreads to over 100 projects
Shares in BYD plummeted by close to 12% on Tuesday amid speculation that US billionaire investor Warren Buffett may sell shares in China's top electric vehicle producer.
The Hang Seng Tech Index plunged 3.9%, dragged down by the falls of tech giants Alibaba and Tencent. Rising Covid cases also hurt market sentiment.
US and EMEA investors put a record $5.8bn into Chinese equities in June after Covid lockdowns ended in Shanghai and other cities and regulators said they would ease their tech sector crackdown
Rising interest rates and Chinese property sector uncertainty have prompted Asia-Pacific companies to take out bank loans instead of bond market issuances, new data show
In a proposal to bondholders, Hong Kong-listed Powerlong aims to pay 5% of principal on the due date of the bonds, 15% after six months, and the final 80% after 12 months, sources said.
China bonds registered $2.5 billion of outflows last month, the fifth consecutive month of foreign outflows, but over $9.1 billion of foreign inflows went into China's stock market in June, the IIF said
KDDI shares declined about 4% on Monday after the biggest outage in the history of Japan's No-2 wireless carrier hit almost 40 million users