TAIEX rallies on EU accord
The TAIEX rallied yesterday to close at the day’s high on improved sentiment after EU leaders hammered out an agreement on a 120 billion euro (US$150 billion) stimulus package to boost the region’s economy, dealers said.
Investors were also encouraged by an EU consensus to ease repayment rules for emergency loans to ailing Spanish banks, they said.
The weighted index closed up 126.67 points, or 1.77 percent, at 7,296.28, off an early low of 7,177.59, on turnover of NT$65.47 billion (US$2.19 billion).
TWSE aims for transparency
The Taiwan Stock Exchange (TWSE) yesterday said it would launch an information disclosure platform for domestic warrant trading next month in a bid to strengthen market transparency.
The TWSE said it had entrusted academics to develop a model that can be used to calculate a wide range of trading information on warrants. The platform will also offer information on the implied volatility of a warrant and its future volatility, which is calculated based on the latest closing price, to help investors make transaction decisions, it said.
Last year, domestic warrant trading attracted an average of 35,165 investors per month, up from the 25,639 recorded in 2010. In the first five months of this year, the monthly average was 29,995.
Food show posts record deals
The annual Taipei International Food Show has generated record business through procurement meetings, despite a gloomy global economy, organizers said yesterday.
The show, which opened on Wednesday, hosted 876 procurement meetings during its first two days for 76 international buyers from 22 countries, the Taiwan External Trade Development Council (TAITRA) said.
The business generated from those meetings reached US$46.89 million, up 26.7 percent from US$37 million a year ago, TAITRA said.
The exhibition at the Taipei World Trade Center Nangang Exhibition Hall and at Exhibition Hall 1 ends today.
FSC chairman reappointed
The Executive Yuan has reappointed Financial Supervisory Commission Chairman Chen Yuh-chang (陳裕璋) and Vice Chairwoman Lee Jih-chu (李紀珠) to continue in their posts, spokesperson Hu Yu-wei (胡幼偉) said yesterday.
Chen and Lee are due to complete their term of office tomorrow.
ANZ to set up subsidiary
Australia and New Zealand Banking Group Ltd (ANZ) has gained approval to set up a subsidiary in Taiwan — the fifth to be owned by a foreign bank, the Financial Supervisory Commission said yesterday.
The ANZ subsidiary will be fully responsible for all assets and liabilities of the 18 existing branches, which employ about 1,600 people, the commission said.
ANZ opened its first branch in Taiwan in 1980 and acquired ABN AMRO Bank’s business in Taiwan in 2010.
Besides the Australia-based banking group, four other subsidiaries of foreign banks — Standard Chartered Bank, Citibank, HSBC, and DBS — have been operating in Taiwan.
NT dollar advances
The New Taiwan dollar gained ground against the US dollar yesterday, adding NT$0.056 to close at NT$29.90.
The greenback opened at the day’s high of NT$29.98 and moved to an early low of NT$29.848 before rebounding. Turnover totaled US$784 million.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
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