The nation's key stock index fell to its lowest this year, led by exporters such as United Microelec-tronics Corp (
The TAIEX slumped 131.53, or 2.4 percent, to 5,443.18, its lowest since Dec. 28. Within the index, 18 stocks fell for every one that rose. The total value of trade was NT$60.4 billion (US$1.7 billion), less than half the six-month daily average of NT$123 billion.
The index has lost 16 percent in the past month on concern about the speed and strength of a US recovery. The US index of leading economic indicators fell during April, the first drop in seven months. That was worse than analysts' forecasts and pointed to a moderate pace of expansion. The US is the second-largest buyer of the nation's exports.
UMC, the world's second-largest made-to-order chipmaker, which sold almost three-tenths of its semiconductors to the US in the first quarter, fell NT$1.90, or 3.9 percent, to NT$46.30.
"The speed of the economic recovery is lagging expectations," said Hsieh Ching-hui, who manages NT$480 million in stocks at KGI Securities Investment Trust Co (
Advanced Semiconductor Engineering Inc (
AU Optronics Corp (友達光電) fell NT$3, or 6.9 percent, to NT$40.60 on concern flat-panel display prices may have peaked, forcing the world's third-largest flat-panel display maker to sell shares at a discount.
Chung Kuo Insurance Co (中國人壽) surged NT$0.70, or 6.7 percent, to NT$11.15 after it said it plans to combine with CTB Financial Holding Co (交銀金控), the nation's ninth-largest financial company, as insurers, banks, brokerages and money managers seek size and scope to survive in an increasingly deregulated industry.
Gamania Digital Entertainment Co (遊戲橘子), the Taiwan distributor of NCsoft Corp's Lineage online game, rose NT$9, or 6.7 percent, to NT$142 on the stock's debut on the over-the-counter exchange.
Mosel Vitelic Inc (茂矽) fell NT$0.85, or 6.7 percent to NT$11.90 ahead of an announcement by the stock exchange to halt margin trading in companies whose net worth per share last year fell below their nominal value of NT$10 each.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique