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Thursday, September 3, 2015
The Financial Supervisory Commission (金管會) chairman had harsh words for the insurance industry yesterday, saying it was the worst offender in the financial sector that fails to prize innovation and instead competes with price-cutting.
Shares in Taiwan recovered from early losses on Wednesday to close above the 8,000-point mark, with the government apparently stepping in to limit the impact of an overnight fall on Wall Street caused by worries over mainland China's economy, dealers said.
The U.S. dollar rose against the New Taiwan dollar Wednesday, gaining NT$0.082 to close at NT$32.762, after Taiwan's central bank propped up the greenback late in the session, dealers said.
Wednesday, September 2, 2015
Millions of India's workers have vowed to go on strike on Wednesday against right-wing Prime Minister Narendra Modi's "anti-labour" economic policies.
Fresh volatility hits Asian markets
Asian stocks were locked in a fresh round of volatility Wednesday, as further evidence of slowing growth in China's economy cast gloom over global markets.
Morgan Stanley on Tuesday slashed its forecasts for Taiwan's economic growth this year and next year due to worsening exports and a slowdown in domestic consumption.
Trade association Semiconductor Equipment and Materials International (SEMI) forecast Tuesday that the worldwide semiconductor equipment market will grow 3 percent to US$38.44 billion this year, a downward revision from a mid-July projection of 7.1 percent.
The Ministry of Labor (MOL, 勞動部) yesterday forecast that job market growth will hit a seven-year low in the fourth quarter.
Taiwan's Advanced Semiconductor Engineering Inc. (ASE, 日月光), the world's biggest chip packager and tester, said on Tuesday its "good intentions" to buy up to 25 percent of its rival Siliconware Precision Industries Co. (SPIL, 矽品) were still in place.
Shares in Taiwan took a plunge Tuesday amid lingering concerns over the global economy, in particular after manufacturing activity in mainland China, the second-largest economy in the world, continued to weaken, dealers said.
  
  
  
  
  
  
  
  
  
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