STOCK MARKET
TWSE approves chairman
The the Taiwan Stock Exchange’s (TWSE) board of directors on Friday approved the appointment of former minister without portfolio Hsu Chang-yao (許璋瑤) as its chairman. The 66-year-old Hsu from 2004 to 2008 served as head of the Directorate-General of Budget, Accounting and Statistics, and was named minister without portfolio in charge of accounting, statistics and financial affairs in May last year. The government had been looking for a new chairman for the exchange since former chairman Shih Jun-ji (施俊吉) became vice premier in September.
ENERGY
New CPC chair appointed
The Ministry of Economic Affairs on Friday appointed Southern Taiwan University of Science and Technology principal Tai Chein (戴謙) to lead CPC Corp, Taiwan (CPC, 台灣中油). The state-run oil refiner is scheduled to convene a board meeting today to officially elect Tai as chairman, the ministry said. Tai was formerly vice minister of the National Science Council before he became principal of the university in August 2007. The ministry said Tai’s appointment reflects his expertise in science and his management capabilities.
AVIATION
CAL partners with Airbus
Airbus SE has chosen China Airlines Ltd (CAL, 中華航空) to become one of its maintenance, repair and overhaul suppliers in Asia, a press release said on Thursday. CAL senior vice president Houng Wang (王宏) said the company will also provide aircraft conversion services for the European firm. After opening a new hangar next year, Wang said the company is confident that its growing capabilities will offer comprehensive solutions to support Airbus aircraft in Taiwan.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
UNCERTAINTIES: The world’s biggest chip packager and tester is closely monitoring the US’ tariff policy before making any capacity adjustments, a company official said ASE Technology Holding Inc (日月光投控), the world’s biggest chip packager and tester, yesterday said it is cautiously evaluating new advanced packaging capacity expansion in the US in response to customers’ requests amid uncertainties about the US’ tariff policy. Compared with its semiconductor peers, ASE has been relatively prudent about building new capacity in the US. However, the company is adjusting its global manufacturing footprint expansion after US President Donald Trump announced “reciprocal” tariffs in April, and new import duties targeting semiconductors and other items that are vital to national security. ASE subsidiary Siliconware Precision Industries Co (SPIL, 矽品精密) is participating in Nvidia
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