Foxconn Technology Co Ltd

The World Bank raised its 2026 growth forecast for the East Asia and Pacific region to 4.5%, a 0.3 percentage point increase from its prior estimate, citing surging global demand for AI-related hardware. The revision, published in the bank's East Asia and Pacific Economic Update on October 6, 2026, covers 23 economies including China, Vietnam, Indonesia, Malaysia, and Thailand, and projects regional growth to moderate to 4.4% in 2027-2028. Vietnam received the largest upgrade among major regional economies, up 1.1 percentage points to 7.4%, while Malaysia and Thailand were each lifted 0.7 percentage points to 5.1% and 2.0%. China's projection was left unrevised at 4.4% amid property sector weakness, the Philippines held at 3.7%, and Pacific Island nations were downgraded to 2.2%. The World Bank said AI goods drove over half of regional export growth and more than 70% in Malaysia, the Philippines, Thailand, and Vietnam, with six regional economies shipping $1.4T in AI goods in the twelve months to April, and flagged a potential correction in global AI capital expenditure as a primary downside risk.

U.S. equity futures moved modestly higher on Monday as investors returned from the Independence Day holiday, with Dow futures broadly unchanged, S&P 500 futures gaining 0.3%, and Nasdaq 100 futures rising 0.9%. Markets are focused on the Institute for Supply Management's June services PMI, expected to ease slightly to 54.2 from 54.5 in May, with any reading above 50 signaling continued expansion in the sector that accounts for more than two-thirds of U.S. economic activity. Oil prices edged lower after OPEC+ agreed to raise crude production targets by a further 188,000 barrels per day from August, with Brent crude slipping around 0.4% to $71.86 a barrel and U.S. West Texas Intermediate falling approximately 0.2% to $68.63. Spot gold declined as the U.S. dollar strengthened, reducing demand for the precious metal, after gold had benefited from weaker U.S. payroll figures that scaled back expectations of additional Federal Reserve rate increases. Foxconn reported a 39.8% year-on-year increase in second-quarter revenue to T$2.513 trillion, exceeding market expectations, driven by strong demand for artificial intelligence infrastructure.

Foxconn reported record second-quarter revenue of NT$2.513 trillion, up 39.83% year-over-year, driven by strong AI demand. The figure exceeded the LSEG SmartEstimate of NT$2.372 trillion. June revenue surged 52.11% year-over-year to NT$821.8 billion, also a record for the month. The company forecast both quarter-over-quarter and year-over-year growth for the third quarter but cautioned that the volatile global political and economic situation needs monitoring.