Saturday, April 27, 2013
Shares in Taiwan closed flat Friday as investors rushed to pocket gains built earlier in the session amid fears that the market would pull back after breaching 8,000 points, dealers said.
The U.S. dollar fell against the New Taiwan dollar yesterday for the third consecutive day, shedding NT$0.045 to close at NT$29.705, as foreign investors continued to move funds into the country, dealers said.
Takehiko Nakao, a former Japan vice minister for finance, has been elected president of the Asian Development Bank (ADB), the Philippines-based lender announced Friday.
Friday, April 26, 2013
Southeast Asian leaders were upbeat Thursday about progress made on an ambitious plan to weld the region into a European Union-style economic community as a counterweight to Asian powerhouse China, while efforts were stalling on South China Sea disputes.
Shares in Taiwan closed flat Thursday amid bird flu concerns after Taiwan reported its first confirmed case of H7N9 avian influenza the previous day, dealers said.
Shares of H7N9-related firms such as vaccine developers, detergent makers and surgical mask suppliers moved sharply higher Thursday morning after Taiwan reported its first confirmed H7N9 case a day earlier, dealers said.
The U.S. dollar fell against the Taiwan dollar Thursday, shedding NT$0.082 to close at NT$29.750 as the strength of other regional currencies, in particular the Chinese yuan and South Korean won, drove traders here to buy into the local unit, dealers said.
South Korea's economy grew at its fastest pace in two years in the first quarter of this year as exports bounced back despite competition from a weak yen, the Bank of Korea said Thursday.
After the first H7N9 case was reported in Taiwan, the Taiwan Stock Exchange's main index opened 8.33 points lower yesterday, at 8,015.38, on turnover of NT$2.259 billion, but the Ministry of Finance (MOF) expressed confidence in the government's ability to control the disease.
The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday upgraded its growth forecast for Taiwan's 2013 GDP to 3.71 percent, citing an increase in private investments.