Taiwan News Morning Briefing - March 26
Taiwan News
2014-03-26 09:15 AM
Market & Commodity

Taiwan stock market (TAIEX) opened 51 points, or 0.60 percent, higher on Wednesday at 8,741 on turnover of NT$2.92 billion.

■ U.S. stocks are closing higher on Wall Street as the market shrugs off a two-day decline. The Standard & Poor's 500 index rose eight points, or 0.4 percent, to close at 1,865 Tuesday. The Dow Jones industrial average rose 91 points, or 0.6 percent, to 16,367. The Nasdaq composite rose eight points, or 0.2 percent, to 4,234. Bond prices fell. The yield on the 10-year Treasury note climbed to 2.75 percent. (AP)

■ The Taiwan Stock Market opened low and trended high Monday closing up 83.92 points, or +0.98%, at 8689.30 points. Turnover was NT$82.17 billion. The OTC market erased recent losses closing up 3.05 points, or +2.16%, at 143.99 point. Turnover was NT$29.79 billion. (Taiwan News)

World News

■ Over an extraordinary 17 days and nights, until the moment Malaysia's prime minister stepped to a lectern to deliver investigators' sobering new findings, the fate of vanished Flight 370 hung on morbid conjecture and fragile hope. After bad weather halted the hunt for a day, searching resumed Wednesday for Malaysia Airlines Flight 370, the Australian Maritime Safety Authority said. (AP)

■ The crash of a Chicago commuter train that derailed and plowed up an escalator at one of the world's busiest airports injured more than 30 people. Expert said it's miracle that nobody died when Chicago commuter train crashed up escalator at airport. (AP)

■ Air pollution kills about 7 million people worldwide every year, with more than half of the fatalities due to fumes from indoor stoves, according to a new report from the World Health Organization published Tuesday. The agency said air pollution is the cause of about one in eight deaths and has now become the single biggest environmental health risk.(AP)

Local News

■ Leaders of the students occupying the Legislative Yuan gave a cautious welcome to an invitation by President Ma Ying-jeou Tuesday to meet him for a discussion about the cross-straits trade pact without any preconditions. (Taiwan News)

■ Talks between legislative caucuses to discuss the stalemate over the trade-in-services pact with China broke down Tuesday afternoon, almost one week after hundreds of angry students occupied the Legislature to demand the accord’s rejection and an apology from the president. (Taiwan News)

■ HTC unveiled the latest version of its flagship smartphone, the HTC One in New York and in London. The new HTC One (M7) features a larger display and updated design/software/camera. As more institutional investors weigh in on the future performance of HTC, the market forecasts that HTC’s trend of steadily increasing its 5-day average will remain unchanged. If sales of its new model are energetic after its presentation, positive performance of HTC shares in the future can be expected. (Taiwan News)

■ New Taipei City Mayor Eric Chu spoke out Tuesday that he believes the Trade in Services Agreement (TiSA) should be reviewed clause by clause, otherwise the social costs generated by such protests – which resulted in injuries to more than 100 students and police Monday morning – will be far too high. (Taiwan News)

■ Legislative Yuan Speaker Wang Jin-pyng said Tuesday that he will call another meeting to coordinate the views of the ruling and opposition parties in appropriate time, after the second such meeting aimed at ending the standoff over a trade pact with China ended in failure. (CNA)

■ Wolfgang Kreissl-Dorfler, vice chairman of the European Parliament-Taiwan Friendship Group, will lead a delegation to Taiwan March 25-29 at the invitation of the Ministry of Foreign Affairs, according to a ministry statement released Tuesday. (CNA)

■ President Chain Store Corp (PCSC), which operates the nation's largest convenience store chain, 7-Eleven, said Tuesday that it will achieve its 2015 goal of opening 5,000 outlets in Taiwan a year early. It will also target establishing larger shops with floor space of more than 30 pings (1 ping is equal to 3.306 square meters), the company's top official said Tuesday. (CNA)

■ If a service trade pact with China fails to clear the Legislature, it will impact the financial sector in four areas, including a drop in interest rates of renminbi deposits, the head of the Financial Supervisory Commission (FSC) said Tuesday. (CNA)

■ At midnight Taiwan time on Wednesday, HTC held a joint flagship mobile phone presentation in New York and London. The new flagship M8 was officially unveiled as HTC stock is poised to trend higher. (CNA)

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