PCA Securities Investment Trust Co (
The fund will be Taiwan's first to invest in India, where investment in shares reached a record last year. PCA will use Morgan Stanley Capital International Inc's benchmark stock index to determine the fund's investment allocations, the statement said.
PCA Securities, which manages US$3 billion in assets in Taiwan, said in a filing to the Securities and Futures Bureau on March 10 that it planned to invest as much as NT$5 billion in India. Securities and Futures Bureau is under the Cabinet-level Financial Supervisory Commission.
"India has an attractive, fast-growing economy," Tiffany Chang, who will manage the money, said in an interview in March. "The massive market is under-invested by Taiwan investors."
Overseas funds invested an all-time high US$9.2 billion in India last year, attracted by growth in Asia's fourth-biggest economy, which may grow 7.2 percent in the fiscal year ending March 31, next year, from 6.9 percent in the fiscal year ended March 31, the Confederation of Indian Industry said in a statement issued on Saturday.
India is estimated to have expanded 6.9 percent in the fiscal year ended March 31, India's central bank said on April 28. Growth may accelerate as more than a decade of policy changes to open the economy and ease restrictions on local and foreign companies has led to higher investments.
The benchmark Mumbai stock exchange Sensitive Index, or Sensex, rose 38 percent in the past 12 months, compared with a 6.7 percent gain in Taiwan's benchmark TAIEX.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day