Prosecutors said they are investigating if insider trading in shares of Hsinchu International Bank (
"Prosecutors have started investigations into whether there was any insider trading involved in transactions of Hsinchu International Bank shares," said Lin Jinn-tsun (林錦村), spokesman for the Taipei District Court Prosecutors' Office, said yesterday, confirming a Chinese-language Economic Daily News report, which didn't cite anyone.
Prosecutors are still waiting for the results of an initial investigation from the Financial Supervisory Commission as a reference for the probe, Lin said, declining to give more details.
Hsinchu Bank spokesman Leo Liang (梁俊武) said yesterday he "isn't aware of any insider trading and prosecutors haven't come to the bank's office for investigation."
The share price of Hsinchu Bank jumped 33 percent and its trading volume surged more than 80 times in the three weeks before the takeover was announced on Sept. 29, according to Bloomberg data.
Shares of Hsinchu Bank declined NT$0.1 to close at NT$23.3 on the stock exchange yesterday.
Standard Chartered on Sept. 29 offered to buy Hsinchu for NT$24.5 per share, valuing the bank at NT$40.5 billion (US$1.2 billion).
The offer has been accepted by 95.4 percent of shareholders.
Fubon Financial Holding Co's (
Fubon Life Assurance Co (
Fubon Life Assurance is a shareholder of Hsinchu and has a director on the lender's board. The unit is barred by law from buying or selling the company's shares within 12 hours of an announcement, Kung said.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
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