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May, 2, 2016

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Business
Shares in Taiwan took a beating Thursday as selling focused on large-cap stocks, in particular in the electronics and financial sectors, pushing down the weighted index below the 8,500- point mark at the close, dealers said.
 > Taiwan
 
The Cabinet gave a green light Thursday to a law amendment proposal allowing the online sale of alcohol.
 > Taiwan
 
Online retail giant Alibaba is on the verge of leading a Chinese takeover of AC Milan from disgraced former prime minister Silvio Berlusconi, Italian media reported Wednesday.
 
The yen soared against the U.S. dollar Thursday and Tokyo's Nikkei index plunged more than 3 percent after the Bank of Japan (BOJ) shocked markets by not ramping up its stimulus.
 
Oil prices dipped in Asia Thursday as traders took profits after crude costs hit a new high for the year in response to falling U.S. production.
 
Sony Corp. reported an 88.4 billion yen (US$818 million) loss in January-March, a smaller flow of red ink than a year earlier, but it postponed Thursday giving its annual outlook until May, citing damage from major earthquakes in southwestern Japan earlier this month.
 
Deutsche Bank, Germany's biggest lender, on Thursday warned that 2016 would be a difficult year, even if it performed better than expected in the first three months.
 
BoJ surprises as it holds off stimulus, delays inflation target
The Bank of Japan shocked markets Thursday as it held fire on a fresh round of widely expected stimulus measures, sparking questions about whether it had anything left in its arsenal to kickstart the stuttering economy.
 > Japan
 
Daan keeps Taipei's most expensive storefronts
Storefronts in Taipei's Daan District (大安區) still command the highest rents, averaging NT$4,570 per ping (3.3 square meters), followed by Wanhua District's (萬華區) NT$4,093, according to Taiwan Realty's (台灣房屋) research.
 > Taiwan
 
Fed keeps key rate unchanged and provides no timing hints
The Federal Reserve is keeping a key interest rate unchanged against the backdrop of a global economic slump and providing no hint of when its next rate hike may occur.
 
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