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Thursday, June 25, 2015
The U.S. dollar rose against the New Taiwan dollar Wednesday, gaining NT$0.050 to close at the day's high of NT$31.052 on the back of the local central bank's intervention to help the U.S. currency recoup its earlier losses, dealers said.
The state-run Taiwan Power Co. (Taipower, 台電) urged big electricity consumers on Wednesday to join its new "demand bidding" program, under which the utility "buys back" power from big users capable of cutting back their energy consumption.
Shares in Taiwan closed little changed Wednesday as investors feared more foreign selling after foreign institutional investors shifted to the sell side on Tuesday, dealers said.
Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) has retained the title as the largest corporate taxpayer in Northern Taiwan, the National Taxation Bureau under the Ministry of Finance said Wednesday.
Wednesday, June 24, 2015
Foreign orders fall for the second month
Foreign orders fell at an annual rate of 5.9 percent to US$35.79 billion in May, which was the lowest amount in nearly two years, according to a report released by the Ministry of Economic Affairs (經濟部, MOEA).
The chairman of the Financial Supervisory Commission (FSC, 金管會) said Tuesday that the FSC will launch an investigation into an alleged stock trading fraud involving biotech firm Zodic Light World Technology Inc. (兆良科技).
Low interest rates and a booming electronics sector in the latter half of the year are likely to drive the Taiwan stock market index to the 10,000-point mark, said William Dong (董成康), equities and research head of UBS Securities' Taipei branch.
Shares in Taiwan extended their momentum from a session earlier and moved higher Tuesday as investors embraced high hopes that Greece and its creditors will hammer out a package to solve the European country's debt problems, dealers said.
The Financial Supervisory Commission (FSC, 金管會) said chances are low that it can renegotiate terms of a cross-strait yuan investment scheme so that the program can proceed independently from the stalled Cross-Strait Service Trade Agreement (服貿協議).
United Microelectronics Corp. (UMC, 聯電), Taiwan's second largest contract chip-maker, is joining with British chip designer ARM Holdings Plc. and U.S.-based software developer Synopsys Inc. to develop the advanced 14 nanometer process.
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