Reported 11 months ago
Source: INVESTORS
Reported 11 months ago
Despite the recent historical highs in the Taiwan stock market, a young stock whiz faced harsh short selling pressure as the Taiwan Stock Exchange revealed that a securities firm defaulted on buying and selling Taiwan Semiconductor (stock code 2330) shares, totaling 28.92 million USD. This incident was analyzed to have been triggered by misjudgment following Taiwan Semiconductor's surge past 900 NT dollars and further speculation towards the 1,000 NT dollar mark, leading to a situation where the stock price did not significantly drop after being shorted at high levels, resulting in the harsh short selling pressure.
Source: YAHOO
Reported 11 months ago
Taipei - As of June 21, 2024, the domestic housing market in Taiwan is seeing a surge in both prices and transaction volumes with banks granting record-high mortgage amounts. In May, the five major banks in Taiwan collectively issued a total of 1,162.3 billion New Taiwan Dollars in new mortgage loans, marking a historic high. The interest rate for these loans hit 2.187%, the highest in nearly 15 years. Furthermore, the proportion of new Youth Housing Loans among the total new mortgage loans from these banks reached 40.6%, the highest in nearly eight years. The Central Bank attributes the increase in mortgage amounts to various factors including increased property transactions in major cities, high domestic housing prices, and favorable loan schemes driving the demand for homeownership.
Source: YAHOO
Reported 11 months ago
Foxconn's stock price surged 7% this week, playing a key role in driving Taiwan's stock market to new highs as reported by journalist Cui Xinfang in Taipei. Goldman Sachs mentioned in a recent stock report that Foxconn is benefiting from the high demand for iPhones with AI technology and AI servers, which will boost future profits. They recommend a 'buy' rating with a target price raised from 227 yuan to 257 yuan, the highest among foreign investors. Foxconn's electronic business is expected to increase by 1% and 2% in 2025 and 2026 due to the increase in iPhone shipments with AI features. Additionally, AI server production will contribute to revenue, with the revenue ratio expected to reach 13% and 19% in 2024 and 2025 respectively.
Source: YAHOO
Reported 11 months ago
On June 21, 2024, the Chairman of Land Bank, Hsieh Chuan-Chuan, resigned upon approval from the Ministry of Finance and will officially step down on the 25th to become the new Chairman of BOT Bank. This move comes as part of possible comprehensive personnel changes in state banks in August. Other public sector financial institutions are also expected to undergo leadership changes later in the year, with considerations on whether to retain or bring in new faces. This wave of resignations amongst older public bank executives is being closely monitored to see if the new government will prioritize seniority or introduce fresh blood into these positions.
Source: YAHOO
Reported 11 months ago
In the midst of an AI fervor driving syndicated loan opportunities, four major state-owned banks, including Hua Nan Bank, First Bank, Bank of Taiwan, and Cooperatives Bank, took the lead in organizing a 38.5 billion syndicated loan for Yageo Corp. The loan signifies the second largest for the second quarter of 2024, highlighting the strong demand for AI supply chain funding and promising substantial income in interest and fees for the participating banks. With a positive outlook on the syndicated loan market for the year, financial institutions anticipate a transaction volume of 650-700 billion US dollars. With Hua Nan Bank at the helm, the successful syndicated loan caters to Yageo Corp's operational needs and affirms confidence in the company's performance and future endeavors.
Source: YAHOO
Reported 11 months ago
Due to changes in inflation structure and consecutive rate hikes by the central bank, the ultra-low interest rate environment in Taiwan is unlikely to return. The five major banks in Taiwan have seen a significant increase in their average loan interest rates, reaching a near 15.5-year high in May 2024. The recent average weighted interest rate for new loans from these banks was 2.187%, with rates for housing loans, capital expenditure loans, and working capital loans all on the rise. The central bank's decision to raise the reserve requirement by 1 basis point may further push loan interest rates up, according to Deputy Director of the Economic Research Division of the central bank, Cao Tiren.
Source: YAHOO
Reported 11 months ago
On June 21, 2024, the central bank implemented the sixth wave of selective credit controls, while the Executive Yuan cracked down on fake housing loan borrowers to dampen the housing market. Top officials in public banks analyzed that the wealth effect, inflation resistance, and housing replacement demand are three major reasons why the housing market will continue to heat up in the second half of the year. With various measures in place, the housing market performance in the second half of the year is a focus of media attention.
Source: YAHOO
Reported 11 months ago
In Tainan City, Taiwan, temperatures have exceeded 36 degrees Celsius for three consecutive days, leading to heat warnings and increased sales of cold beverages. Five cases of heat-related injuries have been reported in Tainan, while a woman in Yilan suspected of heatstroke has tragically died. The extreme heat has also caused disruptions in various regions, with thunderstorms affecting flight operations in Taipei and landslides blocking roads in Chiayi County. Weather conditions are expected to remain hot and stormy in the coming days, urging caution among residents.
Source: YAHOO
Reported 11 months ago
Tong Tzu-Hsien, the chairman of Hoe Enterprise, who publicly expressed support for nuclear energy, has been appointed as the deputy convener of the 'National Climate Change Response Committee' by President Lai. Tong emphasized that all energy options in Taiwan should be beneficial for the country, including reducing carbon emissions. He cautioned against the misconception that green energy is easy to achieve, as it may involve sacrificing marine ecology and farmland. Tong advocated for a balanced approach between green energy and nuclear power to meet Taiwan's electricity needs without causing significant environmental damage.
Source: YAHOO
Reported 11 months ago
Many street performers in Taiwan face challenges due to the lack of tipping culture and frequent reports of noise violations, making it difficult for them to make a living. Even with a street performer license, they find limited opportunities for performances and recognition, pushing some to participate in mobile markets instead. Suggestions to revitalize the street performing industry include holding street performer competitions during festivals and providing more performance venues to attract tourists.
Source: YAHOO
Reported 11 months ago
The first national legislator to be recalled was in Taichung on June 21, 2024. The DPP is gearing up for a recall battle next year, with discussions on anti-expansion of powers widespread. The People's Party Taichung City Chairman, Jiang Heshu, commented that there is a chance of success, with the key being swing voters. The Blue camp criticizes the ruling party for engaging in a 'profitless business' and aims to disrupt the composition of the legislature. The Green camp argues that the opposition party is promoting bills that infringe on people's rights, leading to a backlash from the public.
Source: YAHOO
Reported 11 months ago
China's Ministry of Commerce announced that it will continue to impose anti-dumping duties on imported styrene from Taiwan, maintaining a tax rate of 3.8% to 4.2% for five years starting June 23. Taiwan's major companies have had limited exports to China this year, minimizing the impact. The Economic Ministry officials noted that Taiwan's tax rates are lower compared to South Korea and the US, and Taiwanese companies have been diversifying into other markets while focusing on high-value and low-carbon development. Styrene is a crucial organic chemical used in various products like EPS, PS, ABS, and more.
Source: YAHOO
Reported 11 months ago
Taiwan Power Company held its 2024 annual shareholders meeting today to explain its recent efforts in stabilizing power supply, assisting in stabilizing prices, caring for people’s livelihoods, and mitigating industrial impacts amid rising international fuel prices. Facing financial challenges, the company aims to maintain sustainable operations by seeking a 100 billion NT dollars government subsidy and strengthening its financial performance to achieve break-even in profit and loss this year. Shareholders at the meeting, including small shareholders, protested and demanded share repurchases due to continuous losses.
Source: YAHOO
Reported 11 months ago
In New Taipei City, the Yehliu area experienced an underground cable burning incident last night, leading to sparks and a power outage. Firefighters arrived to handle the situation, and Taipower cooperated by cutting off the power for about 40 households on Gangdong Road for approximately half an hour before restoring it. Shops along Gangdong Road all simultaneously lost power unexpectedly, affecting seafood businesses that were unable to operate. The fire department received a report of an underground pipeline on fire at 9:45 pm. Taipower explained that the fire did not occur on their lines but on cables owned by another unit, with power being restored by 1:10 am. [Read more] For more news, visit udn website.
Source: YAHOO
Reported 11 months ago
In daily life, bacteria are everywhere, and critical care specialist Dr. Huang Xuan has listed 10 items commonly used every day that are filthy, with bacteria levels even hundreds of times higher than toilets. Items such as shower heads, washing machines, phones, keyboards, toothbrushes, towels, cutting boards, dishcloths, refrigerator door handles, and light switches are all found to harbor dangerous bacteria. Regular cleaning and disinfection are recommended to prevent bacterial growth and potential health risks.
Source: YAHOO
Reported 11 months ago
In its first wave of inspections on senior personnel, the Lai government has appointed Wang Chun-li, a former director of the Investigation Bureau and current Chief Prosecutor of the High Prosecutors Office, to take over as head of the Northern Prosecutors Office from the promoted Prosecutor General Zheng Ming-qian. This move reflects the government's priority of stability in the prosecution personnel. Wang's professional background has earned him trust and confidence within the system.
Source: YAHOO
Reported 11 months ago
China held a press conference to announce a joint document with the Supreme Court, Supreme People's Procuratorate, Ministry of Public Security, Ministry of State Security, and Ministry of Justice on June 21, 2024, regarding punishment for 'Taiwan independence' advocates committing crimes of splitting the country. The document allows for the death penalty for those deemed seriously harming national unity, with life imprisonment or over 10 years in prison for key figures. Actions promoting Taiwan's separation from China are criminalized, aiming to protect national sovereignty, unity, and territorial integrity.
Source: YAHOO
Reported 11 months ago
On June 21, 2024, the Chinese Communist Party (CCP) introduced measures to punish Taiwan independence views, drawing high attention from both sides of the Taiwan Strait. The Mainland Affairs Council (MAC) expressed regret and emphasized that Beijing has no judicial jurisdiction over Taiwan, and CCP's laws and regulations have no binding force on Taiwanese. MAC urged people to stay calm and not be threatened or intimidated by the CCP. The government stressed its determination to defend people's freedom and rights and not accept CCP's threats. Additionally, MAC criticized the CCP's actions for only fueling cross-strait conflict, harming people-to-people exchanges, and hindering positive developments in cross-strait relations.
Source: YAHOO
Reported 11 months ago
On June 21, 2024, Mainland China announced the 'opinions' on punishing Taiwan independence. Zhang Wuyue, director of the Mainland China Studies Center at Tamkang University, analyzed that this move by Mainland China can achieve three purposes: internal accountability, international declaration, and intimidation towards Taiwan, demonstrating equal treatment to Taiwanese nationals. The issued 'opinions' include a global arrest warrant for stubborn Taiwan independence elements, warning of potential arrest in Mainland China, Hong Kong, Macau, or countries with extradition agreements. Beijing has employed various tactics towards Taiwan, including diplomatic isolation, psychological warfare, trade coercion, and legal punishment. Zhang noted that Mainland China aims to exert control, declare Taiwan as part of China, and intimidate Taiwan using legal and propaganda warfare. The approach this time doesn't involve new legislation by the National People's Congress but incorporates existing laws like the Anti-Secession Law, the Criminal Law of the People's Republic of China, and the Criminal Procedure Law.
Source: YAHOO
Reported 11 months ago
In a session held on June 21, 2024, the Legislative Yuan rejected the overturning of the parliamentary reform with the blue and white coalition, signaling 'sunshine in the parliament.' The opposition party leaders urged the ruling party not to resist reform for power, leading to potential Constitutional battles ahead. Despite the failed overturn, calls for constitutional interpretation and temporary measures have been made, with both the administration and the ruling party planning to apply. The presidential office will carefully evaluate this decision. The next battleground will likely involve constitutional interpretation.
Source: YAHOO
Reported 11 months ago
The Ministry of National Defense announced tonight that the Taiwanese military detected 30 PLA aircraft engaged in a night combat operation at sea in coordination with PLA vessels for joint combat readiness patrols, with 17 aircraft crossing into Taiwan's northern, central, and southwestern airspace. The Taiwanese military closely monitored the situation using joint surveillance methods and deployed aircraft, ships, and land-based missile systems to respond accordingly.
Source: YAHOO
Reported 11 months ago
As expected, the parliamentary reform reconsideration motion did not overturn in the Legislative Yuan, with the ruling party stating yesterday that they would seek a constitutional interpretation path, involving the Legislative Yuan party caucus, the Executive Yuan, the Control Yuan, and possibly even the Presidential Office. Despite President Lai Ching-te's recent emphasis on engaging with different opinions, the government's actions have been perceived as confrontational rather than dialogic, possibly causing difficulty in regaining public trust. The aggressive confrontational approach taken by the Democratic Progressive Party aims at maintaining support for their cause and preparing for the upcoming national party congress in July, but the overall atmosphere reflects a shift towards prioritizing party interests over genuine dialogue, potentially alienating public opinion.
Source: YAHOO
Reported 11 months ago
Taipei - People First Party Chairman Ko Wen-je expressed disappointment after the Executive Yuan's proposal was rejected, stating that this is not the end of the ruling party's political maneuvers. Ko mentioned upcoming constitutional interpretations, recalls, and anticipates intense confrontations even if these fail. He criticized instances of executive power abuses in Taiwan and emphasized the importance of legislative reform. Tomorrow, Ko will address these issues and inform the public at Rongxing Garden in Taipei.
Source: YAHOO
Reported 11 months ago
The Legislative Yuan rejected the government's reconsideration proposal on June 21, 2024, making the parliamentary reform law effective after the president's formal announcement. The Kuomintang and Taiwan People's Party are focusing on anti-corruption as their main agenda, targeting key issues involving the procurement of COVID-19 vaccines, tainted eggs, rapid tests imported by small eateries, and optoelectronics. They aim to uncover and address past wrongdoings of the Democratic Progressive Party, shedding light on corruption and misuse of public funds.
Source: YAHOO