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Friday, April 11, 2014
HK, Shanghai to begin cross-market trade
China Thursday unveiled a plan allowing cross-trading between Hong Kong and Shanghai's stock markets, in the mainland's latest move to open up its capital markets and promote the yuan as an international currency.
Financial Supervisory Commission (FSC) Chairman Tseng Ming-chung (曾銘宗) on Wednesday acknowledged that a number of regional financial institutions may become a haven to avoid taxation as Taiwan's participation in the U.S.'s Foreign Account Tax Compliance Act (FATCA) approaches on July 1.
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Ex-VP Siew meets Chinese premier at Boao
Former Vice President Vincent Siew (蕭萬長) on Thursday reiterated to Chinese Premier Li Keqiang (李克強) Taiwan's intention to join the China-led Regional Comprehensive Economic Partnership (RCEP) at the Boao Forum for Asia.
Taiwanese smartphone vendor HTC Corp. (宏達電) has received pre-orders online from customers in China for more than one million units of its new flagship HTC One M8 smartphone, according to website statistics.
The U.S. dollar fell against the Taiwan dollar Thursday, shedding NT$0.032 to close at NT$30.130 on expectations that the U.S. Federal Reserve will keep interest rates low for some time, dealers said.
Ting Hsin-affiliated information and communications technology (ICT) company Inhon International (應宏集團) on Thursday said it might take one of its five spin-offs public as early as next year.
Shares in Taiwan closed higher Thursday as late session bargain hunting relieved earlier downward pressure to vault the index back into positive territory, dealers said.
A company controlled by the family of Asia's richest man Li Ka-shing has sold a landmark Beijing property for more than US$900 million, it said, adding to speculation he is cashing out of Chinese property.
South Korea's central bank on Thursday kept interest rates at 2.5 percent for the 11th consecutive month, citing signs of recovery at home and abroad and uncertainty about the U.S. Federal Reserve's stimulus.
Philippine exports surged at their fastest pace in more than three years in February, led by a robust manufacturing sector and growing electronics shipments, official data showed Thursday.
  
  
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