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May, 28, 2016

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Taiwan > Business
Forecast for '16 GDP growth cut to 1.06%
Taiwan's official statistics agency has lowered its forecast for Taiwan's gross domestic product (GDP) growth for 2016 to 1.06 percent.
 
Shares in Taiwan moved higher Friday as investors were encouraged by a deal to set up an integrated circuit packaging and testing firm in Taiwan, prompting them to pick up semiconductor stocks, dealers said.
 
Shares of Advanced Semiconductor Engineering Inc. (ASE,日月光) and Siliconware Precision Industries Co. (SPIL, 矽品) got a boost Friday as the two largest integrated circuit packaging and testing services providers in Taiwan prepared to form a joint holding company, dealers said.
 
The U.S. dollar fell against the New Taiwan dollar Friday, shedding NT$0.048 to close at NT$32.528 as foreign investors continued to move funds into the country, dealers said.
 
No change to cross-strait trade under Tsai: TAITRA
The Taiwan External Trade Development Council (TAITRA, 外貿協會) said Thursday it expected its usual cross-strait economic and trade activities to continue under President Tsai Ing-wen's administration.
 
Advanced Semiconductor Engineering Inc. (ASE, 日月光) and Siliconware Precision Industries Limited Co., Ltd (SPIL, 矽品) -- Taiwan's two leading chip testers -- said Thursday that they had reached an agreement to form a holding company.
 
The Market Intelligence and Consulting Institute (MIC) under the government-sponsored Institute for Information Industry said Thursday that slower sales of Apple Inc. devices could have an adverse impact on the output of Taiwan's contract electronics makers.
 
The U.S. dollar fell against the New Taiwan dollar Thursday, shedding NT$0.076 to close at NT$32.576, as foreign investors continued to move funds into the region, dealers said.
 
Standard & Poor's, a U.S.-based ratings agency, said Thursday that Taiwan's gross domestic product is expected to grow just 1.8 percent in 2016, lagging behind its Asian rivals Hong Kong, South Korea and Singapore.
 
OPPO hits Taiwan
OPPO smartphones are shown in this promotional photo. Mainland China's Oppo Mobile Telecommunications Corp. announced yesterday that its OPPO R9 Plus would be available in Taiwan starting June 1.
 
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