The country’s public service pension fund appointed six trusts to help invest NT$24 billion (US$728 million) in the domestic stock market as stability returns, said the vice chairman of the fund management board, Tsay Feng-ching.
The fund didn’t appoint any trusts to help manage investments last year because Taiwan’s stock market was weak, Tsay said in a phone interview yesterday.
“The stock market is more stable this year compared to last year, [when] it was quite volatile,” Tsay said. “There are market expectations for the economy to improve in the second half of the year, too.”
Taiwan is the second-best-performing stock market in Asia after China this year, rising 43 percent on speculation that improving relations with China may help the economy after it shrank a record 8.36 percent in the fourth quarter. The benchmark index fell 46 percent last year.
The country’s investment trusts, including Cathay Securities Investment Trust (國泰投信) and SinoPac Securities Investment Trust Co (永豐投信), are allocated NT$4 billion each to manage for three years, the management board said.
The other four managers are Fuh Hwa Securities Trust Co (復華投信), HSBC Global Asset Management Ltd (匯豐中華投信), ING Securities Investment & Trust Co and Fubon Securities Investment Co (富邦投信).
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
CUSTOMERS’ BURDEN: TSMC already has operations in the US and is a foundry, so any tariff increase would mostly affect US customers, not the company, the minister said Taiwanese manufacturers are “not afraid” of US tariffs, but are concerned about being affected more heavily than regional economic competitors Japan and South Korea, Minister of Economic Affairs J.W. Kuo (郭智輝) said. “Taiwan has many advantages that other countries do not have, the most notable of which is its semiconductor ecosystem,” Kuo said. The US “must rely on Taiwan” to boost its microchip manufacturing capacities, Kuo said in an interview ahead of his one-year anniversary in office tomorrow. Taiwan has submitted a position paper under Section 232 of the US Trade Expansion Act to explain the “complementary relationship” between Taiwan and the US
RSS