The nation's financial markets and most businesses in northern Taiwan were closed yesterday amid Typhoon Nock-Ten's high winds and intermittent rainfall, while consumers were busy buying vegetables for fear of potential price hikes in the coming days.
But prices of vegetables remained stable at discounters and supermarkets yesterday, and a government official asked consumers not to panic over possible typhoon damage.
PHOTO: CHUO YI-CHUN, TAIPEI TIMES
"As production sites of crops in southern Taiwan are not affected by the typhoon, it is expected that vegetable prices will not rise sharply," said Wang Jen-shiao (
The Taipei Markets Administration Office manages 62 traditional wet markets, 11 wholesale markets and 31 public supermarkets in the capital.
Prices may edge up today as a result of psychological factors just as they have in the past, Wang said.
The nation's two largest discount chains, Carrefour Taiwan and RT-Mart (
"Prices of vegetables per bunch [250g] are between NT$9 and NT$12 depending on each outlet's situation," said Jurene Hsiao (
Hsiao said huge crowds rushed to Carrefour on Sunday night to purchase instant noodles, canned food and vegetables. But the number of such shoppers fell as the typhoon swept across northern Taiwan, bringing less rainfall than expected.
Even so, RT-Mart also tripled its commodity supplies yesterday to meet surging demand, according to marketing manager Fiona Wang (
Wang said their promotional price for green leafy vegetables, NT$7 per bunch, will remain unchanged until Nov. 2 as the contract with suppliers had been inked two months ago.
Piano Chia (賈開琴), senior marketing manager of Wellcome Taiwan Co (惠康百貨), which runs Wellcome supermarkets nationwide, attributed the stable prices to their sufficient supplies in storage before the arrival of the typhoon.
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Advanced Micro Devices Inc (AMD) suffered its biggest stock decline in more than a month after the company unveiled new artificial intelligence (AI) chips, but did not provide hoped-for information on customers or financial performance. The stock slid 4 percent to US$164.18 on Thursday, the biggest single-day drop since Sept. 3. Shares of the company remain up 11 percent this year. AMD has emerged as the biggest contender to Nvidia Corp in the lucrative market of AI processors. The company’s latest chips would exceed some capabilities of its rival, AMD chief executive officer Lisa Su (蘇姿丰) said at an event hosted by
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
TECH JUGGERNAUT: TSMC shares have more than doubled since ChatGPT’s launch in late 2022, as demand for cutting-edge artificial intelligence chips remains high Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted a better-than-expected 39 percent rise in quarterly revenue, assuaging concerns that artificial intelligence (AI) hardware spending is beginning to taper off. The main chipmaker for Nvidia Corp and Apple Inc reported third-quarter sales of NT$759.69 billion (US$23.6 billion), compared with the average analyst projection of NT$748 billion. For last month alone, TSMC reported revenue jumped 39.6 percent year-on-year to NT$251.87 billion. Taiwan’s largest company is to disclose its full third-quarter earnings on Thursday next week and update its outlook. Hsinchu-based TSMC produces the cutting-edge chips needed to train AI. The company now makes more