Wednesday, November 12, 2014
An Asia-Pacific summit on Tuesday endorsed a Beijing-backed route towards a vast free trade area in the region, host Xi Jinping said, calling it a “historic” step.
As Alibaba (阿里巴巴) kicked off the world's largest online shopping frenzy on Tuesday, local businesses including Pacific SOGO Department Stores also launched their own promotion to capitalize on the “Singles Fever.”
Renminbi (RMB) transactions between Taiwan and mainland China surged 96 percent year-on-year to 309.1 billion RMB in the first three quarters, according to data from China's central bank.
The Taiwan Stock Exchange (TWSE) said that the position of securities net overbought by foreign investors saw NT$22.49 billion last week, compared with NT$42.9 billion for a week earlier.
Taiwan's gross domestic product (GDP) will grow 3.5 percent this year and 3.8 percent in 2015, Britain-based credit insurance provider Coface predicted Tuesday.
Shares in Taiwan retreated Tuesday as investors locked in the gains posted in the previous session, as the index moved closer to the nearest technical resistance at around 9,100 points, dealers said.
The U.S. dollar rose against the New Taiwan dollar Tuesday, gaining NT$0.111 to close at NT$30.717 as the local central bank jumped onto the trading floor to prop up the greenback, helping the currency recover its earlier losses to make a significant comeback, dealers said.
The world's biggest economies must tackle rising inequality, aid agency Oxfam warned Tuesday, saying ignoring the issue would leave millions trapped in poverty and risk economic growth.
World stock markets mostly rose Tuesday, with Tokyo closing at a seven-year high on renewed weakness in the yen, as investor sentiment got a boost from another record close on Wall Street.