Boosted by fiscal stimulus measures, China and neighboring countries including South Korea and Taiwan present long-term opportunities for fund investors, Fidelity International told a media briefing yesterday.
China and its neighbors will lead the region’s upcoming economic recovery, said Catherine Yeung, associate investment director of Fidelity International in Asia Pacific.
An estimated population of 3.8 billion people in the region is expected to benefit from Asian governments’ increased spending, pumped into infrastructure and public works to either create job opportunities or spur consumption, she said.
Citing Thomson Financial’s forecasts, economies of developing countries in Asia will grow 6 percent on average next year, twice the projected GDP growth for Western counterparts, the company said in a press statement.
In Taiwan, improving relations with China have provided a boost to its country rating although the nation’s exports to GDP performance still raises concerns, Yeung said.
By sector, financial, IT and consumer discretionary industries are over-weighted in the asset management company’s US$4.3 billion South East Asia Fund, Yeung quoted the fund’s manager Allan Liu (廖恩樹) as saying.
Two local firms, Taiwan Semiconductor Manufacturing Co (台積電) and Taiwan Fertilizer (台肥), are among the South East Asia Fund’s top 10 largest holdings.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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