Thursday, December 11, 2014
Taiwan's economy will likely grow at a modest pace next year due to a lack of further trade liberalization and the impact of a gloomy global economy, Bank of America Merrill Lynch predicted on Wednesday.
Shares in Taiwan closed sharply lower Wednesday as market sentiment was dampened by losses suffered by other regional markets amid fears over further fund outflows from the region, dealers said.
The Taiwan Futures Exchange (TAIFEX) has been performing better than expected with a 2014 trade volume of 150 million items up to late October, surpassing the total trade volume of the whole of 2013.
The U.S. dollar fell against the New Taiwan dollar Wednesday, shedding NT$0.030 to close at NT$31.260 in the wake of the continued strength of other regional currencies, in particular the Japanese yen and the South Korean won, dealers said.
Wednesday, December 10, 2014
The central bank is likely to raise the interest rate in September 2015, later than the market's expectation, according to British banking company Barclays' economist Leong Wai Ho (梁偉豪).
The Taipei-based Taishin Financial Holding Co. (台新金控) threatened to sue the Ministry of Finance (MOF, 財政部) after suffering a defeat in Chang Hwa Bank's (彰化銀行) board elections on Monday.
Foreign investors last week switched to net oversell NT$9.17 billion-worth of local shares, compared with the net overbought position of NT$24.93 billion during the week of Nov. 24 to 28.
Shares in Taiwan pulled back Tuesday, extending losses from a session earlier, as investors took cues from a retreat on Wall Street overnight to cut their holdings in local shares, dealers said.
The U.S. dollar rose against the New Taiwan dollar Tuesday, gaining NT$0.005 to close at the day's high of NT$31.290 as local central bank intervention offset the impact from the strength of the Japanese yen, helping the greenback recoup its earlier losses, dealers said.
Shopping via mobile phones is fast becoming the main option for spending money in China, with transactions from the not-so-developed western region of the country being the driving force, a report said on Monday.