Public confidence in the nation’s economy took a downturn this month after the government’s business monitoring spectrum flashed “blue” last month, suggesting a continued slowdown, a survey by Cathay Financial Holding Co (國泰金控) showed yesterday.
About 32.4 percent of respondents expect the economy to deteriorate over the next six months, outnumbering the 24.8 percent who hold an optimistic outlook and 9.4 percent who are neutral, the monthly survey found.
The finding suggested a lack of confidence in the economy after major economic barometers became mired in the negative zone, sinking the National Development Council’s business monitoring signal to “blue” for April.
“The public’s sentiment turned weak even though the US remains on a course of stable recovery and Europe starts to show improvement,” Cathay Financial economic research department assistant manager Achilles Chen (陳欽奇) said in the report.
The softening sentiment on the economy extends to expectations of stock performance, as nearly 40 percent said the TAIEX would fall in the coming six months and only 23.4 percent forecast a rally, the survey found.
Economic reasons aside, Cathay Financial, the nation’s largest financial service provider, said foreign-exchange losses might weigh on corporate earnings this quarter, therefore contributing to the dim view.
Consequently, 24 percent of the respondents plan to lower positions in local shares, higher than the 19.2 percent who intend to increase holdings, the survey said. An absolute majority, 56.8 percent, prefer to maintain their current status.
Private consumption confidence has remained relatively resilient, although it also showed signs of moderation, the survey said.
About 14 percent of respondents expect job-hunting to be easier in the coming six months, while 32 percent expect it to grow more difficult, the survey said. About 43 percent expect the job market to remain unchanged.
A majority, 67.6 percent, were neutral about their income levels in the next six months, while 14 percent express concerns over a potential decrease, the survey found.
A total of 18.3 percent are looking at income gains.
Judging from the results, consumers would not feel the need to cut spending in the foreseeable future, Chen said.
As a result, about 30 percent plan to increase budget for big-item consumption in the following six months, higher than 21 percent who intend to lower spending, the survey said.
The public is divided about proposed stock connections between the local bourse and that in Hong Kong or Shanghai.
About 43.5 percent said the links would boost the TAIEX and 42 percent said they would increase trading volume, the survey said.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained