Taiwan News Morning Briefing - June 27
Taiwan News
2014-06-27 09:12 AM

Market & Commodity

Taiwan stock market (TWSE) opened lower 0.05 points, or 0.00 percent, on Friday's session at 9,320.89, with turnover reaching NT$2.59 billion.

■ The U.S. stock market closed lower Thursday, with banks posting some of the biggest declines. The Dow Jones industrial average fell 21 points, or 0.1 percent, to close at 16,846 Thursday. It was down as much as 121 points earlier. The Standard & Poor's 500 index lost two points, or 0.1 percent, to 1,957. The Nasdaq composite slipped less than a point to 4,379. Bond prices rose. The yield on the 10-year Treasury note fell to 2.53 percent. (AP)

World News

■ Investigators looking into the disappearance of the Malaysia Airlines plane are confident it was on autopilot when it crashed in a remote stretch of the Indian Ocean, Australian officials say as they announce the latest shift in the search for the jet. (AP)

■ North Korea fires three short-range projectiles into the waters off its east coast, a South Korean defense official says. The move was most likely a routine test-firing, but the official said it could also be meant to stoke tensions with Seoul. (AP)

■ After more than a decade of helping fight Islamic militants, the United States is disbanding an anti-terror contingent of hundreds of elite American troops in the southern Philippines where armed groups such as Abu Sayyaf have largely been crippled, officials say.(AP)

■ South Korea's president has decided to retain the country's current prime minister -- who holds the No. 2 spot in the government -- after two possible replacements for the job both abandoned their nominations because of questions over past behavior, officials say. (AP)

■ German beat the U.S. 1-0 in the Group G; Portugal defeated Ghana 2-1 in Group G. Belgium downed Korea 1-0 in Group H; Russia and Algeria held to a 0-0 tie in the Group H. at Thursday's matches of Brazil's FIFA soccer game.

Local News

■ Students who occupied the Legislative Yuan last spring returned on Thursday to protest against Kuomintang attempts to approve the government’s Special Economic Pilot Zones proposal.(Taiwan News)

Taiwan's Central Bank convened a Q2 board of directors meeting Thursday and laid out monetary policy for the second half of the year, keeping the discount rate unchanged for the 12th quarter in a row. In addition, Taiwan’s central bank also announced a few amendments to the existing housing regulations, appearing to put a lid on housing speculation. (Taiwan News)

DPP Chairman Tsai Ing-wen urged the government to make the substance of talks between Wang Yu-chin and Zhang Zhijun known to the public as soon as possible.(Taiwan News)

■ Zhang Zhijun, director of China's Taiwan Affairs Office, was greeted by a throng of well-wishers shouting welcome at an activity center in Xizhi’s Hou-de borough, but there were also students holding up banners with slogans like, "Taiwan's future is none of your bloody business.” (Taiwan News)

■ Advanced Semiconductor Engineering Inc. (ASE)convened a shareholders meeting Thursday. ASE Chief Operating Officer Tien Wu said the company has been proactively taking steps to meet Kaohsiung government’ environmental requirements since the company was ordered to suspend work at K7 plant late last year. Institutional investors estimated that the K7 plant might resume operation at the end of July. (Taiwan News)

■ Terry Gou, the outspoken chairman of Hon Hai Precision Industry Company, revealed a plan to acquire a vocationally oriented school on the island in a bid to provide business-centered training to students and equip them with skills needed in industry.(Taiwan News)

■ The mayor of Taiwan's most populous city said that Taiwan and China should continue seeking exchanges while respecting differences, a proposal countered by China's Taiwan affairs minister with a suggestion of "resolving" those differences.(CNA)

■ HTC Corp. has promised that two models of its flagship One series will receive updates to the latest version of Google Inc.'s Android operating system, currently nicknamed "Android L," soon after the final release is made public.(CNA)

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