Re: [新聞] 台積電注資百億美元以對抗匯率波動

看板Stock (股票)作者imericlai時間6小時前 (2025/06/26 12:47)推噓6(7推 1噓 7→)

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以下數字都是簡化的簡單說就是原本開價10億元美元的訂單原本兑台幣是32元好了現在預判可能台幣升值會到25（假設）報價一樣10億美元預期的台幣價差去買美元跌的期貨把少賺的錢從期貨拿回來有趣的是期貨也是賭美元賺美元拿到一堆美元再換回台幣所以要精算 ※ 引述《y598763 (diamond)》之銘言： : 1.原文標題：TSMC to Inject $10 Billion Capital to Unit to Counter FX Swings : 2.原文連結：https://yhoo.it/4nz1lwS : 3.內容： : (Bloomberg) -- Taiwan Semiconductor Manufacturing Co. is set to inject $10 b il : on in capital to its overseas unit to shore up its currency hedging operatio ns : its biggest such move to counter a volatile local exchange rate. : TSMC Global Ltd., a wholly-owned unit of the world’s largest contract chipm ak : , has approved a plan to increase its capital by issuing $10 billion worth n ew : hares to its parent to help it reduce foreign exchange hedging costs, the co mp : y said in a statement. It’s the third such deal since 2024, and by far the la : est. They occurred during periods when the Taiwan dollar tended to appreciat e. : he moves grant TSMC Global — the vehicle responsible for managing overseas in : stments and hedging — more capital flexibility in managing exchange rate ri sk : The capital injection is for general investments, mainly bank deposits and b on : , according to a separate statement from Taiwan’s Department of Investment Re : ew. The purpose was for TSMC to shift its own foreign exchange holdings to t he : nit to help with hedging costs, the statement said. : Recent strength in the Taiwan dollar has caused worries in Taipei about the ec : omy’s heavy reliance on exports. In May, the currency notched its biggest s in : e-day gain since the 1980s, spurring calls from the central bank to curb spe cu : tion. The cost of hedging swings has surged this year, with one-year implied v : atility for the local currency hitting the highest since 2011 on Wednesday. : “Generally speaking, the heightened forex volatility would mean that banks ma : be adjusting their margin requirements,” said Philip McNicholas, Asia sover ei : strategist at Robeco based in Singapore. “Issuing new shares, and bringing i : an immediate cash injection, may help companies manage the margin requiremen ts : n both existing and new hedges.” : “The US dollar cash can also be useful for companies’ overseas operations, w : ch could also require consistent hedging,” McNicholas added. : TSMC, the main chipmaker to Apple Inc. and Nvidia Corp., is by far the islan d? : biggest company and exporter because the majority of its production is dome st : . A stronger Taiwan dollar hurts exporters because the US dollars they earn fr : sales abroad would translate into less of the local currency, or they would n : d to raise their prices overseas and risk denting demand. : In June, Chief Executive Officer C. C. Wei told shareholders the company’s op : ating margin has fallen several percentage points because of a stronger loca l : rrency. : “Typically, one of the means of such a move is for natural hedging, where a c : porate can match US dollar revenue with US dollar liabilities,” said Christ op : r Wong, senior foreign-exchange strategist at Oversea-Chinese Banking Corp L td : “It can also fund their US asset and expansion plans with less FX conversio n : sk.” : 以下GPT翻譯 : 台積電注資百億美元以對抗匯率波動 : （彭博社報導）—— 台灣積體電路製造公司（TSMC）計劃向其海外子公司注資 100 億美 : ，以強化其貨幣避險操作，這是該公司迄今為止因應本地匯率波動所採取的最大規模資本 : 動。 : 全球最大的晶圓代工廠台積電表示，其全資子公司 TSMC Global Ltd. 已核准發行價值 1 : 億美元的新股給母公司，以提升資本、降低外匯避險成本。這是自 2024 年以來的第三? : 類似交易，規模也是最大的一次。這些交易多發生在新台幣升值期間。透過此舉，TSMC G : bal——負責管理海外投資與避險的實體——將擁有更大的資本彈性以因應匯率風險。 : 根據台灣投資審議委員會的另一份聲明，此次注資將用於一般性投資，主要包括銀行存款 : 債券。聲明指出，台積電此次操作的目的，是將其自有的外匯持有轉至該單位，以協助降 : 避險成本。 : 近期新台幣升值引發台北方面對於出口依賴過重的憂慮。今年 5 月，新台幣出現自 19 80 : 年代以來最大單日漲幅，促使中央銀行呼籲抑制市場投機行為。今年以來匯率避險成本飆 : ，新台幣一年期隱含波動率於週三達到自 2011 年以來最高水準。 : 「一般而言，匯市波動加劇會使銀行調整保證金要求，」Robeco 新加坡分部的亞洲主權? : 略師 Philip McNicholas 表示。「發行新股並立即注入現金，或有助於企業管理現有及? : 增避險的保證金需求。」 : McNicholas 補充說：「美元現金也對企業的海外營運有幫助，因為這些營運通常也需要? : 定的避險策略。」 : 台積電是蘋果公司與輝達（Nvidia）最主要的晶片製造商，也是台灣最大企業與出口商， : 為其大部分產能設於本島。當新台幣升值，出口商的美元營收在換算成新台幣後變少，或 : 提高海外售價而影響需求。 : 台積電執行長魏哲家於 6 月向股東表示，因新台幣升值，公司營業利潤率已下滑數個百? : 點。 : 華僑銀行（OCBC）資深外匯策略師黃儲誠（Christopher Wong）表示：「企業進行此類操 : 的一種常見目的，是實現『自然避險』，也就是將美元收入與美元負債相匹配。這也能幫 : 他們以較小的外匯轉換風險來資助其美國資產與擴張計劃。」 : 4.心得評論：隨著台幣匯率直直升，台積電也趁勢兌換美元進行避險，這樣對於穩定匯率 : 知道有沒有幫助？ -- ※ 發信站: 批踢踢實業坊(ptt.cc), 來自: 49.213.225.182 (臺灣) ※ 文章網址: https://www.ptt.cc/bbs/Stock/M.1750913252.A.C81.html