Taiwan News Morning Briefing - March 11
Taiwan News
2014-03-11 09:16 AM

Market & Commodity

Taiwan stock market (TAIEX) opened 29.72 points, or 0.34 percent, higher on Tuesday at 8,694.96 on turnover of NT$2.17 billion.

■ U.S. stocks were closing slightly lower following disappointing economic news from China and Japan Monday. The Standard & Poor's 500 index edged down a point to close at 1,877. It had been down 11 points earlier. The Dow Jones industrial average lost 34 points, or 0.2 percent, to 16,418. The Nasdaq composite fell two points, or less than 0.1 percent, to 4,334. (AP)

■ The price of oil sunk to around $101 on Monday after a surprise drop in China's exports suggested demand for crude could weaken. Benchmark U.S. crude for April delivery dropped $1.46 to $101.12 a barrel on the New York Mercantile Exchange. Bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.78 percent. (AP)

World News

■ Investigators in Malaysia are voicing skepticism that the airliner that disappeared early Saturday with 239 people on board was the target of an attack, U.S. and European government sources close to the probe said. After a massive air and sea search, now in its third day, the authorities still failed to find any trace of the Boeing 777 plane.

■ The White House on Monday forecast more robust economic growth in 2014 than last year and a further pickup in the economy for 2015, according to Reuters. Under a White House projection, the U.S. economy is expected to expand by 3.1 percent this year, faster than last year's 1.7 percent; growth would pick up to 3.4 percent in 2015.

■ The Mt. Gox bitcoin exchange that recently collapsed in Japan has filed for U.S. bankruptcy protection to shield itself from a lawsuit seeking to repay thousands of people whose digital currency is now missing. The U.S. filing made in Dallas late Sunday supplements a bankruptcy petition that Mt. Gox submitted in Japan at the end of last month. (AP)

■ NATO says it is dispatching surveillance aircraft to fly over Poland and Romania to monitor the crisis unfolding in neighboring Ukraine.The military alliance says the decision to send AWACS reconnaissance planes was taken by the ambassadors of NATO's 28 member states Monday to intensify the assessment of the possible threat the crisis poses to the alliance. (AP)

Local News

■ National Security Bureau chief Tsai De-sheng confirmed the report of a warning call of planned attacks on Beijing airport received by Taiwan days before Malaysia Airline's jet disappeared Saturday en route to the Chinese capital with 239 people aboard. But Tsai considered that the two events are likely to be uncorrelated. (Taiwan News)

■ The Presidential Office reached consensus with relevant authorities Monday on a plan to impose late-night traffic control on a section of the boulevard facing the office. Under the security measure, part of the 460-meter Ketagalan Boulevard stretching from Huaining Street to Chongqing South Road will be closed from 11 p.m. to 6 a.m. (CNA)

■ The Taipei-based China Aviation Development Foundation, one of the major shareholders of Taiwan High Speed Rail Corp. (THSRC), on Monday selected Tony Fan, chairman of Taiwan Futures Exchange Corp., to serve as its representative on the company's board. (CNA)

■ The Ministry of Economic Affairs urged the Legislature Monday to conduct a speedy review of a trade in services agreement Taiwan signed with China last June, and challenged the pact's opponents to have confidence in Taiwan's service industry. (CNA)

Taiwan sent two Coast Guard vessels Monday to help look for a Malaysia Airlines aircraft that disappeared off the coast of Vietnam early Saturday, as the country's president urged the military and Coast Guard to join international search efforts. The 1,000-ton vessels, which sailed from the southern city of Kaohsiung, are expected to reach the search area more than 1,000 nautical miles away around midday Friday, said the Coast Guard Administration (CGA). (CNA)

■ The luxury tax that was launched in 2011 in a bid to stem skyrocketing housing prices in Taipei and neighboring New Taipei has been successful in achieving the aim, Finance Minister Chang Sheng-ford said Monday. (CNA)

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