Stock market rating raised
Morgan Stanley has raised its rating on the Taiwan stock market to “equal weight” from “underweight,” according to a Bloomberg report. The report cited a Morgan Stanley research note as saying that the upgrade was based on improving earnings and rosier prospects in Taiwan’s technology sector this year.
Morgan Stanley also raised its forecast for the local bourse’s weighted index’s year-end target from 7,700 points to 8,650 points.
Pineapple, lychee sales soar
The Greater Kaohsiung City Government yesterday said sales of pineapples and lychees have nearly doubled year-on-year this month, because of an increasing number of Chinese tourists. Recent heavy rains did not affect local fruit farmers’ harvest, Tsai Fu-chin (蔡復進), director-general of the Greater Kaohsiung City Government’s Agriculture Bureau, said at a fruit promotional event in Taipei.
Trade trip generates orders
A trade promotion delegation in Hungary is expected to generate more than US$30 million (NT$897 million) in orders for Taiwan-made car and motorbike components, Taiwan’s representative office in the East European country said yesterday. The trade delegation’s 16 Taiwanese car and motorbike part suppliers held a conference in Budapest on Thursday, attracting about 60 potential Hungarian buyers.