Reported over 1 year ago
A report by the Center for Strategic and International Studies (CSIS) reveals that China has invested at least $230.8 billion over the past decade in developing the electric vehicle industry. This includes government support equivalent to 18.8% of electric vehicle sales from 2009 to 2023. Analysts point out that while China's support for the industry has decreased to just over 11% of sales in 2023, it still surpasses Western efforts. Despite advancements, China's electric vehicle market faces challenges like profitability despite extensive government support and market growth. The US government under the Biden administration has allocated $370 billion to promote clean technology, including significant incentives for electric vehicle purchases.
Source: YAHOO
Reported over 1 year ago
During an interview on June 21, 2024, Chairman of Pegatron, Tong Tzai-Xian, who was appointed as the Vice Convener of the 'National Committee on Climate Change Strategies' by President Lai Ching-Te, highlighted the importance of stable power supply in three key areas - electric vehicles, AI, and chip manufacturing. Tong stressed the need to reduce carbon emissions while ensuring stable electricity supply with good cost control. He also emphasized the importance of energy options benefiting Taiwan and discussed the significant impact of electricity usage increases in these sectors on the country's competitiveness. Tong has been vocal about energy issues, advocating for cleaner energy sources recognized internationally and emphasizing the importance of nuclear energy policy regardless of political affiliations. Tong's remarks were made during the Economic Daily News 50th-anniversary event.
Source: YAHOO
Reported over 1 year ago
Xu Dashun, the owner of the Yungching Real Estate Pingtung Station Front franchise, emphasizes the importance of carefully examining the current condition of a second-hand house before purchasing for residential use. He advises buyers to thoroughly read the property description to check for any issues like leaks mentioned. It is crucial to entrust a trustworthy real estate agent to avoid unpleasant surprises, as exemplified by a situation where a property was found to have a dark past of a suicide attempt but was concealed by the owner. By refusing to handle such a transaction, Xu gained trust from the owner, who later entrusted him with finding a new property and recommended his services to others for their real estate transactions.
Source: YAHOO
Reported over 1 year ago
Wei Qiaoyi/Taipei reports that by 2026, the life insurance industry will align with the IFRS17 and TW-ICS. Large life insurers are seeking to continue using the current 'overlay method' to maintain stock investments and financial stability. Chairman of the FSC, Peng Jinlong, pointed out that if aligning with IFRS17, the conditions for using the overlay method would not exist at that time. He emphasized the need for careful consideration before making significant adjustments. Peng remains optimistic about the alignment as it has been prepared for years and has the experience of other countries to reference. The industry's push for the overlay method dates back to when life insurance liabilities were governed by IFRS4 before adopting IFRS9 for assets in 2018. The article also discusses the potential impact on accounting practices if the overlay method is not allowed.
Source: YAHOO
Reported over 1 year ago
The TAIEX experienced a significant drop of 152 points to close at 23,253 points due to the volatility in the US stock market caused by the 'quadruple witching day.' Despite this, the market is expected to have the strongest June in history with year-end factors, shareholder meetings, and final sprints for underperforming stocks. However, concerns arose as China released strict laws against 'Taiwan independence,' leading to a drop in futures trading. Positive policies and upcoming events such as a press conference by TWSE chairman Lin Hsiu-Ming on the value of Taiwan's capital market are expected to boost TAIEX performance. External factors like the US stock market and Taiwan-China relations also play key roles in the short-term market corrections. TAIEX futures plummeted due to concerns about the new laws from China and the 'quadruple witching day' in the US stock market. Despite the short-term corrections, positive outlooks from company management during shareholder meetings, a focus on AI-related stocks, and upcoming events from tech giants like NVIDIA and TSMC provide opportunities for investors. Non-tech sectors like Taiwan's major companies also show potential for growth amidst a strong TAIEX and optimistic views on dividends and capital gains.
Source: YAHOO
Reported over 1 year ago
At the shareholders meeting of copper foil manufacturer Golden House (8358) held on June 21, 2024, the company's general manager, Li Sixian, mentioned that with the increasing penetration rate of the new PCIE5 platform and the shipment drive of AI server applications, Golden House's revenue and profit in 2024 are expected to surpass those of 2023. The company has entered the B100 and H100 supply chains, with the GB200 peripherals also introduced. It is anticipated that the contribution of AI servers to Golden House will become evident in the fourth quarter, with overall performance in the second half of the year outpacing the first half. Golden House's specialized copper foil proportion has reached 50%, with further growth expected in the latter half of the year. The company's continuous product improvement is projected to gradually increase profit margins and profitability. Moreover, in response to the tariff reductions in the ECFA for copper foil products, Li Sixian emphasized the importance of product differentiation, stable quality, and technological differences as key factors in material manufacturing competition.
Source: YAHOO
Reported over 1 year ago
On June 21, 2024, KGI Asia Investment Strategy Department stated that various central banks around the world have begun easing monetary policies due to slowing economic signs and the need to prevent a recession, potentially bringing an interest rate cut. In this context, the US stock market appears not cheap with the S&P 500 index rising but concentrated among large-cap stocks. Looking ahead to the next half of the year, the Fed's possible shift to a rate cut may present opportunities. They advise keeping an eye on the 'GUIDE' strategy which consists of focusing on Gold, Utilities and AI, Investment Grade bonds, Defensive Stocks, and Eastern Regions. The article elaborates on Gold and Utilities sectors and provides insights on the Chinese and Hong Kong markets with investment themes such as state-owned enterprise reform, economic upturn benefiting operational activities, relaxed property market policies, increasing electricity demand, and expanding business operations overseas.
Source: YAHOO
Reported over 1 year ago
As of June 21, 2024, freight forwarders revealed that the cabin capacity on Europe and America routes is full until July. Carriers have raised rates by about $1,000 in mid-June, but the actual impact remains to be seen. The Shanghai Containerized Freight Index (SCFI) rose by 2.85% to 3,475.6 points, marking an 11-week consecutive increase. While prices are high, the rate hikes on major Europe and America routes have been narrowing. The Mediterranean route increased by 0.14%, while the Europe and America routes increased by 3.55% to 3.87%. With global capacity reaching a historic high of 30,044,051 TEU, the market is closely monitoring the price trends amidst the surge in capacity and rates. Factors such as port strikes and increased demand are contributing to the upward trend in rates on the Europe and America routes.
Source: YAHOO
Reported over 1 year ago
Climate change has intensified heat waves, with extreme high temperatures prompting alerts from the US Midwest to the Northeast this week, breaking records in cities like Boston. Studies show that the global economy may suffer huge losses from extreme heat waves, posing risks to both human health and the economy. Experts warn that as climate change worsens, the economic impact of extreme heat waves will continue to rise, affecting productivity and leading to significant financial losses. Recent analysis also highlights the disproportionate impact on different regions based on wealth, with lower-income areas experiencing greater GDP losses compared to higher-income regions.
Source: YAHOO
Reported over 1 year ago
On June 21, 2024, SoftBank founder Masayoshi Son admitted at the annual shareholder meeting that the Vision Fund under SoftBank prematurely sold its stake in NVIDIA. With NVIDIA's soaring stock price, Son estimates that SoftBank missed out on over $150 billion in profit. Son also revealed missed investment opportunities, including failing to invest in NVIDIA when the company's value skyrocketed. Despite this misstep, Son has had successful investments, such as Alibaba and ARM.
Source: YAHOO
Reported over 1 year ago
Following rate cuts by the Swiss National Bank and the Bank of Canada, the European Central Bank (ECB) surprisingly lowered its deposit rate from 4% to 3.75%, marking its first rate cut in five years. With a focus on controlling inflation, the ECB is adjusting its interest rates while the US Federal Open Market Committee (FOMC) has kept its rates unchanged. Apart from interest rate prospects, other signals like early ECB rate cuts benefiting the Eurozone, positive indicators in various countries, upcoming elections in Europe and the UK, China's efforts in addressing the property market issue, and rising copper prices indicate potential investment opportunities. Amid uncertain interest rate outlooks, diversified assets aligned with mainstream trends can help investors navigate market volatility and benefit from rotational opportunities.
Source: YAHOO
Reported over 1 year ago
三陽公司宣布以14億元購入新竹縣湖口鄉的建地，包含29筆建物，總面積約5990坪，為了看好未來房地產市場，公司積極進行資產活化，並計畫將開發新的建案以獲得更高的利潤。
Source: YAHOO
Reported over 1 year ago
After the new cabinet took office on June 21, 2024, it was anticipated that the reshuffling of senior personnel in state-owned financial institutions would be addressed in the second phase. On June 21, the Ministry of Finance approved the resignation of Xie Juanjuan, the Chairman of Land Bank, and confirmed that she accepted the invitation to become the Chairwoman of Bank SinoPac, with the official transition expected to take place in July. Xie Juanjuan, who has a master's degree in finance from National Taiwan University, had been leading the Land Bank for three years, overseeing continuous growth in credit business and a focus on sustainable policies, setting precedents such as being the first state-owned bank to venture into geothermal energy project financing. Xie's decision marks the first major personnel change in the public financial sector following the inauguration of the new president, following a trend of executives transitioning from public to private financial institutions.
Source: YAHOO
Reported over 1 year ago
Apple has engaged in negotiations with Baidu, Alibaba, and a startup company called Baichuan Zhineng on June 21, 2024, seeking to provide services for Apple AI. Due to the prohibition of the use of European and American generative AI models in mainland China, Apple had to seek local partners to expand its AI business in China. In a bid to overcome restrictions, Apple is now negotiating with these mainland companies to provide AI services, as the company's plan to enhance AI applications in its products had to be put on hold. Apple has reached out to Baidu, Alibaba, and Baichuan Zhineng to seek collaboration, as the ban on Western AI models in China has led to challenges for companies like Apple. The article also highlights that Apple's smartphone sales in the Chinese market lag behind those of local brands that have integrated AI features in their phones. Samsung had faced similar challenges, launching the Galaxy S24 series with generative AI features and turning to Baidu and Meitu for support under the ban, with Baidu offering the most competitive commercial language AI model in the Chinese market. However, unlike Apple, the Chinese market is not a major contributor to Samsung's profits.
Source: YAHOO
Reported over 1 year ago
Uni-President (1313) is boosting its market share in eco-friendly DOP in Japan and expanding into old factory replacement opportunities, aiming to improve profitability. Formosa (1312) is focusing on Southeast Asia, South Asia, and the United States in light of the oversupply of SM in China. Both companies have seen revenue growth in the second quarter, with Formosa's Quanzhou project showing positive feedback and Uni-President planning to increase its DOTP market share through various export channels and sustainability projects.
Source: YAHOO
Reported over 1 year ago
In the wake of the US-China tech war, Huawei, a major Chinese technology company, was blacklisted and faced comprehensive restrictions. However, with strong government support, Huawei has overcome the Western blockades by introducing the 'pure' domestic HarmonyOS NEXT operating system, which will be unveiled by the end of the year with the latest Mate 70 phone. This marks Huawei's strong development capabilities and the system's innovations will be shared at the Huawei Developer Conference 2024, showcasing the growth of the HarmonyOS ecosystem and providing a new user experience.
Source: YAHOO
Reported over 1 year ago
Singapore's DBS Group released a report assessing 27 emerging market economies based on key indicators as of the end of 2023, with Asian emerging markets looking 'quite healthy.' Taiwan claimed the top spot in economic health among the 27 markets due to its strong reserves from high savings and investment surplus, as well as low external and government debt. Other Asian countries ranking high include Vietnam, Indonesia, and South Korea. Taiwan's private debt, however, is relatively high at 141.7% of GDP. Despite structural challenges faced by China, the report highlighted Asia's relative economic health among emerging markets.
Source: YAHOO
Reported over 1 year ago
CSC released the third-quarter plate on June 21, 2024, opening flat as expected in the rod and wire segment. Downstream industries such as screws, hand tool, steel wire, and cable manufacturers have given positive feedback, appreciating CSC's consideration for the challenges faced by downstream operators. However, there was a price increase for some steel sheets, leading to concerns about the price gap with imported products. Following the plate release, CSC introduced a new project with stable prices for general plates, relaxed dimensions, and a slight price decrease for products sold to galvanizing and rolling mills. Industry representatives emphasized the importance of not raising prices to maintain international competitiveness and expressed hopes for gradual market improvement.
Source: YAHOO
Reported over 1 year ago
In order to assist Taiwan Railways in handling debt issues after its corporatization, the Executive Yuan approved the draft amendment of the 'Regulations on the Establishment of State-owned Taiwan Railways Corporation' on June 21, 2024. The amendment allows for the transfer of development rights when dealing with assets such as historic buildings, exempting them from restrictions under the State-Owned Property Act. It is estimated that after the amendment, a total of NT$147.4 billion can be allocated to repay Taiwan Railways' debts. This move is considered urgent as it aims to lower the overall cost burden by expediting debt repayment through fund asset development and disposal.
Source: YAHOO
Reported over 1 year ago
On June 21, 2024, E. Sun Financial Group announced the appointment of new legal representatives and independent directors for its subsidiary E. Sun Securities, with former Taiwan Depository & Clearing Corporation Chairman Zhu Hanqiang and National Chengchi University Professor Feng Zhenyu appointed as new independent directors. Additionally, the board of E. Sun Financial Group also decided to dissolve its subsidiary E. Sun Securities (Europe). The decision to dissolve the European branch was made in response to the impact of the EU's MiFID II directive on E. Sun Securities (Europe)'s revenue, for business development and profit considerations. The dissolution process is subject to FSC approval and may be completed in the second quarter of next year. E. Sun Securities (Europe) was registered in London in 1999, obtained FCA qualification to operate brokerage business in 2000, and provided services to institutional investors in the UK and Europe for investments in the Greater China market (Taiwan, Hong Kong, and Mainland China).
Source: YAHOO
Reported over 1 year ago
On June 21, 2024, the US manufacturing sector continued to expand in June, reaching a 26-month high in the Purchasing Managers' Index (PMI) due to growth in new orders and employment. The US June manufacturing PMI rose from 51.3 in May to 51.7, exceeding expectations and hitting a 3-month peak. However, uncertainty in the Eurozone due to the early French elections caused a decline in the composite PMI to a 3-month low. The US service sector PMI increased from 54.8 to 55.1, and the composite PMI from 54.5 to 54.6, both reaching 26-month highs. Overall, US economic activity in June remained strong, driven mainly by the service sector, which has seen growth for 17 consecutive months, while manufacturing activities have also improved gradually.
Source: YAHOO
Reported over 1 year ago
At the shareholders' meeting of DAP Technology, a subsidiary of MediaTek, on June 21, 2024, Chairman Xie Qingjiang stated that terminal demand is gradually recovering, leading to optimistic operational performance. Forecasting a revenue growth of over 20% for the year, the company focuses on networking infrastructure and advanced AI IoT. With a strong focus on Bluetooth, satellite, broadband, and Ethernet networks, revenue from these sectors is expected to grow compared to last year, indicating positive prospects for the company.
Source: YAHOO
Reported over 1 year ago
As the stock market corrected on June 21, 2024, small investors without significant funds jumped in as the market dipped by over 200 points. Taking advantage of the positive news on advanced packaging technologies, zero-fee trading for small lots surged, with group trading volumes reaching a historic high of 3.3129 million shares, surpassing major tech giants like TSMC and Foxconn. This trend attracted active trading, with trading volume and value significantly increasing by 15.19% and 13.74%, respectively, compared to the previous day. Small investors, skilled in buying on corrections, remained undeterred by high-level adjustments and made strategic moves, leading to active trading in the zero-fee market.
Source: YAHOO
Reported over 1 year ago
HTC announced senior personnel changes, with CFO and spokesperson, Shen Daobang, leaving for personal reasons, and internal promotions for new accounting and finance directors. PR position will be taken over by Lu Jiade, current Legal and Corporate Governance Director. The company expressed gratitude to Shen for his past contributions. HTC emphasizes having a strong global management team and succession plan in place, ensuring stable operations and continuous global development without disruption from personnel changes.
Source: YAHOO
Reported over 1 year ago
Publicly-owned banks in Taiwan have differing opinions on the housing market in the second half of 2024, with some predicting a moderate price rebound while others foresee high-end fluctuations. The Central Bank recently introduced the sixth wave of credit control measures, and the government is reviewing the new youth housing loan mechanism. The Financial Supervisory Commission emphasizes risk management in banks and protecting consumer rights, urging banks to ensure borrowers understand their future obligations and not be overly optimistic. Various factors contributing to high housing prices are analyzed, including abundant market funds, inflation driving property purchases for value preservation, and societal trends like aging populations prompting housing changes. State-owned banks are monitoring repayment sources, debt ratios, and loan-to-value ratios, assessing the difficulty of property prices falling by 2-3%. The new youth housing loan scheme has encouraged home purchases for those under 50, with about 90% borrowing for 20-30 years, showing a positive effect in promoting homeownership among young adults. Plans for managing the new youth housing loans were discussed at shareholder meetings for banks like Mega International Commercial Bank to ensure fair treatment of all loan customers.
Source: YAHOO