TAIEX gains after Greek polls
The TAIEX yesterday rallied 1.76 percent, led by gains in the electronics and financial sectors and in old-economy shares after the result of parliamentary elections in Greece eased fears of global financial turmoil, but dealers said gains might be limited.
The weighted index ranged between a high of 7,302.82 and a low of 7,262.80 before closing up 125.67 points at 7,281.50 on turnover of NT$83.27 billion (US$2.79 billion).
The TAIEX, which opened 139.72 points higher, took its lead from sharp rises in US stock indices last Friday and more favorable measures offered by China that include an extended credit of 600 billion yuan (US$94.36 billion) to Taiwanese enterprises over the next three or four years.
A total of 3,410 stocks closed up and 1,220 finished down, while 274 remained unchanged.
Economics officials to meet
Policymakers in the economic affairs and finance ministries will meet today to devise ways to boost the economy now that the debt situation in Europe appears to be stabilizing, the Cabinet said yesterday.
They will attempt to come up with plans for short and long-term improvements to the economy, the Cabinet said.
Premier Sean Chen (陳冲) has directed the relevant ministries to come up with short-term plans to ensure financial and consumer price stability, and growth in the areas of employment, investment, exports and domestic demand, according to Cabinet spokesman Hu Yu-wei (胡幼偉).
In the mid to long-term, the ministries have been asked to improve the industrial structure, marketing, sales of goods and services, and labor quality, Hu said.
Taiwan hosting conference
Taiwan is scheduled to host several events to facilitate exchanges with China in the LCD monitor and LED industries, including a panel industry conference today.
A 90-member Chinese delegation, headed by Chinese Industry and Information Technology Vice Minister Yang Xueshan (楊學山), will attend the conference, said the Taiwan External Trade Development Council (TAITRA), the organizer of the event.
The delegation includes China Video Industry Association president Bai Weimin (白為民) and representatives of Chinese enterprises Skyworth (創維), TCL Corp, Tencent Group (騰訊) and Sina Corp (新浪).
During the conference, HTC Corp (宏達電) is expected to forge partnerships with Tencent and Sina, while Chimei Innolux Corp (奇美電) and Au Optronics Corp (友達) are expected to sign procurement agreements with China’s major TV set manufacturers, TAITRA said.
Hsinchu seeks marine ties
Hsinchu County Commissioner Chiu Ching-chun (邱鏡淳) yesterday said he hoped direct marine transportation links could be launched between his county and Pingtan, a Beijing-controlled island off China’s Fujian Province.
A direct service between Pingtan and Hsinchu’s Nanliao Harbor would save time, labor and distribution costs in trade between the two sides, Chiu said.
Chiu, heading a 50-member Taiwanese delegation, is on a visit to Pingtan Island for a cross-strait forum and sand sculpture festival that began on Sunday.
Chiu said the Liner Straits, a high-speed passenger ship that operates between Pingtan and Greater Taichung, is capable of carrying more than 700 passengers and 120 vehicles.
NT dollar gains ground
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.045 to close at NT$29.886.
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
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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