The four-day Taiwan International Motorcycle Industry Show, which closed on Saturday, attracted a total of 20,000 visitors and buyers, with exhibitors believed to have made an estimated US$55 million (NT$1.67 billion) in potential trade contracts made during the show.
This year’s show was 30 percent bigger than the last year, as the space at the Taipei World Trade Center (WTC) Exhibition Hall 1 allowed for 200 exhibitors to display the latest motor vehicles, engines and other products at 500 booths.
The show was held alongside the Taipei International Automobile Electronics Show and the Taiwan International Auto Parts & Accessories Show from Wednesday through Friday.
More than 1,000 foreign buyers, mostly from the US, the UK, Japan, South Korea and China, attended the show and many expressed interest in coming back next year, said the Taiwan External Trade Development Council (TAITRA, 外貿協會), the organizer of the event.
World-renowned motor brands like Italy’s Plaggio traded business ideas with 30 local manufacturers at the show’s 83 procurement meetings, TAITRA said.
An increase in the number of new buyers from Latin America, the Middle East and Africa was noticed and some visited the factories of local manufacturers and expressed an interest in placing orders, local manufacturer Dinli Metal Industrial Co (鼎力金屬工業) said.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
PRESSURE EXPECTED: The appreciation of the NT dollar reflected expectations that Washington would press Taiwan to boost its currency against the US dollar, dealers said Taiwan’s export-oriented semiconductor and auto part manufacturers are expecting their margins to be affected by large foreign exchange losses as the New Taiwan dollar continued to appreciate sharply against the US dollar yesterday. Among major semiconductor manufacturers, ASE Technology Holding Co (日月光), the world’s largest integrated circuit (IC) packaging and testing services provider, said that whenever the NT dollar rises NT$1 against the greenback, its gross margin is cut by about 1.5 percent. The NT dollar traded as strong as NT$29.59 per US dollar before trimming gains to close NT$0.919, or 2.96 percent, higher at NT$30.145 yesterday in Taipei trading
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