TAIEX retreats 0.18 percent
Taiwanese share prices edged lower yesterday, with the weighted index losing 10.87 points, or 0.18 percent, to close at 5,875.24, snapping three days of gains.
A total of 6.05 billion shares changed hands on turnover of NT$130.2 billion (US$3.9 billion).
Losers outnumbered gainers 1,252 to 916, with 141 stocks unchanged.
The TAIEX has risen sharply from a low of 4,242.61 points recorded on Jan. 20, making it the second-strongest market in the world, behind only the Shanghai stock market.
FSC fines Nan Shan Life
The Financial Supervisory Commission (FSC) yesterday fined Nan Shan Life Insurance Co (南山人壽) NT$3 million (US$88,7) for negligence and a lack of oversight.
The firm, a local subsidiary of the financially troubled American International Group Inc (AIG), was also banned from hiring new employees after several staffers were found to have used unfair practices when selling insurance policies.
Their supervisor was discharged from management duties, the FSC said, adding that the violation affected 96 victims.
Taiyo to buy stake in Hontai
Japan’s Taiyo Life Insurance Co plans to buy a 13.5 percent stake in Taiwan’s Hontai Life Insurance Co (宏泰人壽) for about NT$5 billion, or NT$13 to NT$14 per share, through a private placement, the Chinese-language Economic Daily News reported yesterday.
The newspaper said Taiyo and Hontai would announce the deal on Tuesday at the earliest, without citing sources.
Taiwan boutique opens
The nation’s largest trade promotion agency opened its first Taiwan-themed boutique and souvenir shop at the Taipei World Trade Center (TWTC) yesterday, with the aim of advertising Taiwanese culture to the millions of foreign exhibitors and buyers that come to the country every year.
Each year TWTC attracts between 3 million and 4 million visitors, who come to Taiwan for various types of conventions, Walter Yeh (葉明水), executive vice president of the Taiwan External Trade Development Council (外貿協會), said at an opening ceremony.
Yeh said the shop, called “taiwanlook,” would not only sell cultural and creative souvenirs, but would also occasionally launch limited edition products on different convention themes.
Recreation business booms
Business at the nation’s theme parks and resorts grew significantly in the first quarter of this year, the Tourism Bureau said yesterday, attributing the growth to the government’s consumer voucher program and other promotion efforts.
The latest statistics provided by 24 amusement parks and resorts showed that the number of visitors in the first quarter grew 26.2 percent from the same period last year, the bureau said.
A total of 2.23 million people visited these venues in the first quarter, generating revenues of NT$1.34 billion (US$39.66 million), up 12.2 percent from the same period last year, the data showed.
The Formosan Aboriginal Culture Village (九族文化村) in Nantou County, LeoFoo Village Theme Park (六福村) in Hsinchu County, Janfusun Fancy World (劍湖山世界) in Yunlin County, Window on China Theme Park (小人國) in Taoyuan County and Hualien Farglory Ocean Park (花蓮遠雄海洋公園) were the five most popular amusement parks, the bureau said.
NT dollar edges up
The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.004 to close at NT$33.820. Turnover was US$522 million.
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
ROUGH RECORDS: Bonds in Japan, as well is in New Zealand, Australia and the US, are seeing the effects of a nervy market as stock exchanges across Asia edge down A deepening slump in Japanese government bonds added fuel to the selloff in global debt markets as rising oil prices stoked inflation fears and pushed yields to multi-decade highs. Japan’s 30-year yield yesterday surged as much as 20 basis points to the highest level since the tenor’s debut in 1999, before paring some of the move. Shorter-maturity Japanese debt was also under pressure, underscored by weak demand at a sale of five-year notes that offered a record-high coupon of 2 percent. Concerns over inflation and government spending rippling through markets including the US, Australia and New Zealand are being amplified in Japan,
The US has cleared about 10 Chinese firms to buy Nvidia Corp’s second-most powerful artificial intelligence (AI) chip, the H200, but not a single delivery has been made so far, three people familiar with the matter said, leaving a major technology deal in limbo as chief executive officer Jensen Huang (黃仁勳) seeks a breakthrough in China this week. Huang, who was not initially listed in a White House delegation to Beijing, joined the trip after an invitation from US President Donald Trump, a source said. Trump picked him up in Alaska en route to a summit with Chinese President Xi Jinping
Wall Street is licking its chops over an unprecedented slate of massive initial public offerings (IPOs) set to arrive in the coming months, beginning with Elon Musk’s Space Exploration Technologies Corp (SpaceX) next month. That is expected to be followed by artificial intelligence (AI) rivals OpenAI and Anthropic PBC. The trio of mega listings, each eyeing valuations around US$1 trillion or more, constitutes a heady period of elevated risk and reward. SpaceX is targeting an IPO that would raise up to US$80 billion — about double the funds generated from all IPOs last year. OpenAI and Anthropic are eyeing IPOs raising US$60 billion. “We’re
RSS