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July, 27, 2016

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Business > Asia > Taiwan
Shares in Taiwan edged lower Monday after a plunge midway through the trading session, but bargain hunting in select large-cap electronics stocks kept the weighted index close to the 9,000-point mark, dealers said.
 
The U.S. dollar rose against the Taiwan dollar Monday, gaining NT$0.070 to close at NT$32.140 as traders here were encouraged by recent positive economic data in Washington to buy into the U.S. currency, dealers said.
 
The Ministry of Economic Affairs (經濟部) announced on Thursday that a delegation will visit Tokyo and Osaka from October 21 to 26 to attract talent from Japan.
 
Confidence in the local economy has shown signs of weakening amid concerns that the decision of the United Kingdom to leave the European Union will send ripples through the global economy and affect domestic fundamentals, according to Cathay Financial Holding Co. (國泰金).
 
On the back of rising demand for the upcoming Ghost Festival, the local retail sector is expected to see sales growth in July, at a time when many retailers have aggressively launched promotional campaigns, according to the Ministry of Economic Affairs (MOEA).
 
Taiwan's smartphone sales in June were affected by an economic slowdown to fall to a low for this year, according to industry sources.
 
A series of marketing events will be held in Taichung from July to October to promote Taiwanese agricultural products among immigrants from Southeast Asian nations, with the goal of expanding the Southeast Asian market for these products.
 
Department stores are launching promotional sales for the upcoming Chinese Valentine's Day and Father's Day holidays.
 
The Taiwan External Trade Development Council (TAITRA, 外貿協會) held a product launch event in Osaka last week, inviting awarded Taiwanese medical enterprises to enhance their brand visibility and increase their competitiveness in the Japanese market.
 
Merck's Stefan Oschmann meets with President Tsai
Merck, a leading science and technology company, announced yesterday that a meeting took place between Merck Executive Board Chairman and CEO Stefan Oschmann and Taiwan President Tsai Ing-wen during his recent visit to the Island, according to a press release from the company.
 
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