Jim Rogers, cofounder with George Soros of the Quantum Hedge Fund, is investing in Taiwan on expectations that this week's presidential election will install a government that will improve ties with China.
Rogers, 65, said he recently bought exchange-traded funds tied to Taiwan, predicting the two economies would "merge" and that the NT dollar would be boosted by appreciation in the yuan.
Chinese Nationalist Party (KMT) presidential candidate Ma Ying-jeou (
"Both of them are going to bring peace," Rogers, chairman of Rogers Holdings, said in an interview with Bloomberg Television on Wednesday in Singapore.
"It's ultimately going to be a merger of Taiwan and China. The currencies are going to merge. The economies are going to merge," he said.
The NT dollar has risen 5.5 percent this year, while the benchmark TAIEX index gained 5.6 percent in the past month as Ma and Hsieh promised to expand travel and investment ties should they win the March 22 vote.
The TAIEX advanced 1.9 percent to 8,337.62 by the 1:30pm close in Taipei. The NT dollar gained 0.1 percent to NT$30.692. Taiwan's local currency bonds have returned 1.6 percent this year, HSBC Holdings Plc index said.
Taiwan's currency has been the worst performer in Asia outside of Japan in the past three years as economic growth slowed to an average 4.09 percent annually since 2000 from 6.48 percent over the previous eight years.
"As soon as the market opens, I will be buying some more Taiwan," Rogers said in the interview late on Wednesday.
"We'll see if it's an overlooked trade or not. I haven't heard many people talking about Taiwan in 15 to 18 years," he said.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies advanced chips to Nvidia Corp and Apple Inc, yesterday reported NT$1.046 trillion (US$33.1 billion) in revenue for last quarter, driven by constantly strong demand for artificial intelligence (AI) chips, falling in the upper end of its forecast. Based on TSMC’s financial guidance, revenue would expand about 22 percent sequentially to the range from US$32.2 billion to US$33.4 billion during the final quarter of 2024, it told investors in October last year. Last year in total, revenue jumped 31.61 percent to NT$3.81 trillion, compared with NT$2.89 trillion generated in the year before, according to
PRECEDENTED TIMES: In news that surely does not shock, AI and tech exports drove a banner for exports last year as Taiwan’s economic growth experienced a flood tide Taiwan’s exports delivered a blockbuster finish to last year with last month’s shipments rising at the second-highest pace on record as demand for artificial intelligence (AI) hardware and advanced computing remained strong, the Ministry of Finance said yesterday. Exports surged 43.4 percent from a year earlier to US$62.48 billion last month, extending growth to 26 consecutive months. Imports climbed 14.9 percent to US$43.04 billion, the second-highest monthly level historically, resulting in a trade surplus of US$19.43 billion — more than double that of the year before. Department of Statistics Director-General Beatrice Tsai (蔡美娜) described the performance as “surprisingly outstanding,” forecasting export growth
RSS