The consumer confidence index (CCI) this month rebounded from last month, mainly on the impact of a bearish outlook for the nation’s securities market, providing evidence of the instability of current consumer confidence, a National Central University survey showed yesterday.
The index stood at 75.33 this month, down 0.75 points from a month earlier, marking its second monthly decline this year, the survey by the university’s Research Center for Taiwan Economic Development showed.
The index gauges public expectations for the local stock market’s performance, household finances, durable goods, job opportunities, consumer prices and the economic outlook for the next six months.
The survey — which polled 2,428 people over the age of 20 from Monday to Friday last week — showed that only respondents’ concerns over the nation’s stock market performance and consumer prices have increased, while uncertainty over the other four areas eased, the center said in its monthly report.
Shia Ben-chang (謝邦昌), a professor in the statistics and information science department at Fu Jen Catholic University, attributed the index’s mild volatility over the past few months to the public’s lack of confidence in consumption.
“It is the worst situation … as the results showed consumers are likely to remain conservative in the near future,” Shia said by telephone.
The stock market sub-index led the decrease among the six sectors this month, falling by 6.3 points to 59.4, with the consumer prices sub-index down 0.2 points to 46.95 during the period, the report said.
The sub-index of durable goods rose by 1.35 points from a month earlier to 96.65 points last month, marking the largest increase among the six sectors, indicating that property remains an attractive investment target, the report showed.
The economic outlook sub-index increased by 0.35 points month-on-month to 71.35 this month, ending three consecutive months of decline, followed by the sub-indices of job opportunities and household finances, which decreased slightly by 0.15 points and 0.1 points respectively to 105.7 and 71.9 this month from last month, the data showed.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion