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Rule change may slow TAIEX: analyst

By Crystal Hsu

The TAIEX closed down 0.12 percent yesterday to 9,701.07, following a large turnover of NT$140.39 billion (US$4.55 billion), as investors trimmed positions on local shares to reflect downgrades in quarterly Morgan Stanley Capital International (MSCI) indices, analysts said. The global stock index provider cut Taiwan’s weightingFULL STORY

MSCI cuts weighting for Taiwan on two stock indices

The weighting of Taiwanese stocks in two indices were due to be lowered following the close of local bourse yesterday, as MSCI carries out quarterly adjustments of its indices. It is the seventh consecutive quarter that Taiwan’s weighting in the MSCI Emerging Markets Index hasFULL STORY

China orders boost Innolux stock

By Lauly Li

The stock price of the nation’s top LCD panel maker, Innolux Corp (群創), jumped 1.33 percent yesterday after China pledged to buy US$4.5 billion worth of TV panels from Taiwanese manufacturers this year. Innolux is the biggest TV panel supplier to China’s major TV brands. China VideoFULL STORY

Asian currencies slip on fears of US Fed rate hike

Asian currencies completed their biggest monthly drop since November last year, led by the South Korean won, on signs that the US Federal Reserve is moving closer to raising interest rates. US Fed Chair Janet Yellen on May 22 said that she expects to increase benchmarkFULL STORY

Acer chooses safety before speed in IoT development

Acer Inc (宏碁) said on Thursday it would proceed cautiously with the development of Internet of Things (IoT) products as it seeks to explore new business opportunities in a shrinking PC market. Acer chairman George Huang (黃少華) said at an internal meeting that in theFULL STORY

UBS gains FSC approval to launch consulting service

By Amy Su

UBS Global Asset Management (Taiwan) Ltd (瑞銀環球資產管理台灣) has received Financial Supervisory Commission (FSC) approval to launch a consulting service in Taiwan via an offshore banking unit, which might help generate US$3 billion in three years for its asset management business. UBS Taiwan, which is to launchFULL STORY

Manufacturing activity weaker last month: TIER

The Taiwan Institute of Economic Research (TIER, 台經院) yesterday said that the local manufacturing sector has been hurt by slower exports and falling industrial production, and is showing signs of weakening. TIER, one of the nation’s leading economic think tanks, said the manufacturing composite indexFULL STORY

Cross-strait investments approved

By Lauly Li

The Investment Commission yesterday approved four international investments, including Beijing Holdings Ltd’s planned investment in Taiwanese food and beverage manufacturer AGV Products Corp (愛之味). The commission’s acting executive secretary, Emile Chang (張銘斌), said it had approved the Chinese company’s request to wire US$6.01 million to Taiwan,FULL STORY

Taiwan Business Quick Take

SHIPPING Wisdom Marine bullish Shareholders of Wisdom Marine Group (慧洋海運集團), one of the nation’s listed bulk shippers, yesterday approved the company’s plan to distribute NT$3 per share in cash dividends, based on its net profit of NT$1.77 billion (US$57.34 million), or NT$3.81 per share, recorded last year.FULL STORY

Greek crisis overshadows G7 talks aimed at growth

The head of the IMF warned that Greece could fall out of the eurozone as it struggled to sort out its debt stand-off, which is adding to concern about the patchiness of global economic recovery. The finance ministers of most of the world’s biggest economies metFULL STORY

Japan spending slump puts optimism into question

Spending by Japanese households slumped unexpectedly last month and consumer inflation came in nearly flat, casting doubt on the central bank’s view that a steady economic recovery would help move inflation toward its ambitious 2 percent target. Households spent less on leisure and eating outFULL STORY

Android upgrade includes pay service, access to HBO

Google Inc unveiled payment services, security upgrades and access to HBO movies and shows for its popular Android software, seeking to push back against growing competition from rivals such as Apple Inc. The new version of the mobile software, called Android M, is to include AndroidFULL STORY

EU probe into China solar panels spreads to Taiwan

The EU threatened to extend tariffs on solar panels from China to Taiwan and Malaysia, saying Chinese exporters might be using the two countries to evade the levies. The European Commission — the 28-nation EU’s trade authority in Brussels — opened inquiries into whether Chinese exportersFULL STORY

Switzerland contracts on strong franc

Switzerland’s economy shrank the most in six years as the strong Swiss franc took its toll on exports. GDP fell 0.2 percent in the first quarter, after a revised growth of 0.5 percent in the previous three months, Switzerland’s State Secretariat for Economic Affairs said inFULL STORY

World Business Quick Take

TELECOMS Vodaphone investors eye pact Some of the biggest investors in Vodafone Group PLC say they are open to a European tie-up with Liberty Global PLC, as the British company is now in a stronger position to negotiate a deal with the cable group. Shares in theFULL STORY

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