Taiwan News Morning Briefing – August 11
Taiwan News
2014-08-11 09:19 AM

Market & Commodity

Taiwan stock market (TWSE) opened 23.87 points, or 0.26 percent, higher to 9,109.83 on Monday, with turnover reaching NT$2.81 billion. The TWSE weighted index closed at 9,085.96 points on August 8, losing 180.55 points on its August 1 close of 9,266.51 points, or approximated 1.95%. The market capitalization of all list companies totaled NT$25.99 trillion on August 8, a decrease of NT$520.55 billion, or 1.96% from its previous week. (Taiwan News)

■ U.S. stock market closed higher Friday as investors were relieved by reports of easing tensions between Ukraine and Russia. The Dow Jones industrial average rose 185 points, or 1.1 percent, to close at 16,553. The Standard & Poor's 500 index rose 22 points, or 1.2 percent, to 1,931. The Nasdaq composite rose 35 points, or 0.8 percent, to 4,370. (AP)

World News

■ The Ebola outbreak in West Africa is focusing a spotlight on an online tool run by experts in Boston that flagged a "mystery hemorrhagic fever" in forested areas of southeastern Guinea nine days before the World Health Organization formally announced the epidemic. (AP)

■ West African nations are turning to drastic measures in a desperate effort to stem the spread of the deadly Ebola virus. Guinea has closed its border with Sierra Leone, a border police official told CNN. (AP)

■ State television in Iran is reporting that a small passenger plane has crashed into a residential complex in the capital, Tehran, killing at least 39 people on board. Sepahan Airlines Flight 5915 was carrying 40 passengers and a crew of eight when it went down, according to official news reports. (AP)

■ President Barack Obama on Saturday refused to give a time limit on America's renewed military involvement in Iraq, saying he doesn't think "we are going to solve this problem in weeks" as the country struggles to form a new government while battling the extremist Islamic State group. (AP)

Local News

■ Only hours after confirming that the resignation of Minister of Economics Chang Chia-juch had been accepted, the Executive Yuan issued a press release Sunday announcing that the post will be taken over by Woody Duh. Duh had originally offered his own resignation as Deputy Minister but took on the post as acting minister last Thursday. (Taiwan News)

■ Kaohsiung Mayor Chen Chu has ordered a complete investigation of buried transmission lines for petroleum products and other materials as well as a detailed look at the city's drainage system and how the two networks interact. Mayor Chen told the Water Resources Bureau (WRB), the Economic Development Bureau and the Public Works Bureau to provide full information on the routes of pipelines and culverts under the city within 24 hours to detect any and all pipelines that may be suspended in culverts and other parts of the municipal drainage system. (Taiwan News)

■ Investigators pursuing an enquiry into the July 31 blasts in Kaohsiung have determined that Liao Che-min, deputy director of the Water Resources Bureau (WRB) of the Kaohsiung City Government, was in charge of a meeting to discuss plans for construction of box culverts in the area where the explosions occurred. Liao continued to claim that he was unclear about details concerning the culverts as prosecutors took turns questioning the deputy director Friday in an attempt to break down suspected resistance. (Taiwan News)

■ A road pavement collapse and a gas leak took place in Kaohsiung’s Chienjin and Chienchen districts respectively on Saturday and were well under control, said the local police. No injuries were reported in these two accidents. (Taiwan News)

■ Democracy activist Wang Dan posted a message on Facebook after arriving in Taiwan late Saturday night for a visit in which he hopes to treat some health problems. He noted that after spending several years in exile in Hong Kong he was delighted to have a chance to come to Taiwan. He said that visiting the island had a nice hometown feel to it, closing with, "I’m glad you people are here, thank you!" (Taiwan News)

Taiwan is now on alert as Hong Kong news media has reported a suspected case of the deadly Ebola virus, the Centers for Disease Control (CDC) said Sunday. The 32-year-old Nigerian man, who arrived in Hong Kong from Nigeria Aug. 7, was hospitalized with vomiting and diarrhea and has since been quarantined at a different hospital on suspicion of infection with the Ebola virus, according to the news report. (CNA)

■ Hon Hai Precision Industry Co., the world's largest contract electronics maker, saw its sales for July fall to a new 17-month low with market analysts attributing the decline to the impact from a product transition period. Hon Hai, which assembles iPads and iPhones for Apple Inc., posted NT$260.22 billion (US$8.67 billion) in consolidated sales, down 17.91 percent from June and also down 13.33 percent from a year earlier. (CNA)

■ Asustek Computer Inc., one of Taiwan's leading personal computer vendors, posted an almost 20 percent month-on-month increase in sales for July at a time when the global PC market is on the way to a recovery. Market analysts said the growth also reflected rising demand for Asustek's smartphone models, in particular the lower-cost ZenPhone series. (CNA)

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