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Tuesday, July 15, 2014
Mazda Taiwan bullish on local market
Mazda Motor Taiwan, the local branch of the Japanese carmaker, expressed optimism on the local market Tuesday and said it aims to increase its local market share over the next four years.
New Zealand, Taiwan strengthen ties through visit of trade delegation
A trade delegation from New Zealand is visiting Taiwan to seek more opportunities for bilateral trade cooperation, according to the New Zealand Trade and Enterprise, the country's international business development agency.
JP Morgan Securities has raised its price target for Hon Hai Precision Industry Co. (鴻海精密), the world's largest contract electronics maker, to NT$130 (US$4.33) from NT$100 on optimism over Hon Hai's recently unveiled transformation plan.
News that Taiwan's largest convenience store chain intends to open an outlet on outlying Orchid Island has met with growing concern, with a noted writer and a former premier joining the ranks of those opposed to the move.
Shares in Taiwan continued to move higher Tuesday as investors were encouraged by the gains posted on Wall Street, where the Dow Jones Industrial Average returned to the 17,000-point mark overnight, dealers said.
As the business tax rate on banking and insurance sectors increases to 5 percent in the second half, an increasing number of Taiwanese banks have recently been forging ahead toward the Association of Southeast Asian Nations (ASEAN) market.
Foreign investors last week served as net buyers of NT$5.86 billion-worth of Taiwan shares, with Yuanta Financial Holdings (元大金控) being the most highly overbought.
Shares in Taiwan staged a rebound Monday to return to above the 9,500-point level as concerns eased over banking woes in Portugal, analysts said.
The U.S. dollar on Tuesday ended above NT$30 for a second consecutive day at the day's high of NT$30.042 in Taipei as the local central bank continued its intervention to keep the Taiwan dollar cheaper, according to dealers.
China's second-quarter growth stagnates at 7.4%
Chinese growth failed to accelerate in the second quarter despite government stimulus measures, an AFP survey predicts, with the world's second-largest economy forecast to record its worst annual performance in 24 years.
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