NEW YORK, Oct 13 (Reuters) - Philadelphia Federal Reserve President Patrick Harker said on Friday he believes the U.S. central bank is likely done with its cycle of interest rate hikes amid an ongoing waning in price pressures.
"Absent a stark turn in what I see in the data and hear from contacts ... I believe that we are at the point where we can hold rates where they are," Harker said in a virtual speech to the Delaware State Chamber of Commerce.
Early Friday, TSMC released its monthly sales data, which showed a 34.8% increase in revenue in October from September. On a year-over-year basis, TSMC's October sales rose 15.7%.
The global Semiconductor industry appears to be nearing the end of a down cycle and is expected to begin its recovery soon. The outlook for 2024 points to an upswing in the worldwide Semiconductor market. The Group anticipates the sales revenue to improve gradually over the forth coming quarters. Moreover, we have successfully secured new businesses in the likes of the Medical and Energy Storage industries. We are cautiously optimistic that we will benefit from these new markets.
Samsung: Tech giant sees profits jump by more than 900% Samsung Electronics says it expects its profits for the first three months of 2024 to jump more than 10-fold compared to a year earlier.
February semi sales up 16.3% y-o-y February semiconductor sales of $46.2 billion were up 16.3% on the February 2023 total of $39.7 billion but 3.1% down on January’s $47.6 billion, says the SIA. https://www.electronicsweekly.com/news/business/838839-2024-04/
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China woes slowing Asean+3 growth but outlook bright
Domestic demand remains a key driver while global technology cycle set to recover
https://www.theasset.com/article/50156/china-woes-slowing-asean3-growth-but-outlook-bright