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Taiwan News Morning Headlines - October 23
Taiwan News
2013-10-23 09:05 AM
TAIPEI (Taiwan News) –

Market & Commodity

■ Taiwan stock market (TAIEX) opened higher at 8,425 points, up 7 points or nearly 0.1%, on turnover of NT$ 1.9 billion.

■ The Dow Jones industrial average, S&P 500 and the Nasdaq closed higher, with the S&P 500 closing at a fresh record high for a fourth straight day. The S&P 500 climbed 0.6% to 1,755. The Nasdaq gained 0.2%. The Dow finished at its highest level in a month, rising 0.5% to 15,468.

■ Gold and silver prices rose Tuesday after the U.S. government reported a slowdown in hiring last month, raising expectations that more stimulus from the Federal Reserve will keep the dollar weak and interest rates low. Gold for December delivery climbed $26.80, or 2 percent, to $1,342.60 an ounce Tuesday. Gold is the highest it's been in a month. (AP)

■ Oil made a brief run toward $100 a barrel Tuesday before dropping back, as recent data indicates there is plenty of supply to meet current demand. Benchmark U.S. crude for November delivery was down 54 cents at $98.68 a barrel in midday trading on the New York Mercantile Exchange. The November contract expires Tuesday. The more heavily traded December contract was down 41 cents at $99.27 a barrel. (AP)

World Business News

■ Apple says its latest operating system for Mac computers is available free of charge, a knock to rival Microsoft, which is selling its Windows 8 Pro operating system for $199. (AP)

■ Apple Inc. made the announcement Tuesday at an event in San Francisco, where the company unveiled its latest iPad to round out its holiday gadget lineup. Apple marketing chief Phil Schiller said the iPad Air will be available November 1 and start at $499 for a model with 16 GB of storage. The revamped iPad mini will be available in late November starting at $399. Apple shares closed down 0.3% at $519.87 on Tuesday after the event.

Local News

■ The U.S. International Trade Commission (USITC) said Monday that it has decided to launch an investigation into patent infringement allegations against Taiwan-based integrated circuit designer MediaTek Inc. and some other Asian electronics firms. (CNA)

■ Taiwan's HTC Corp. said Tuesday that it plans to make smartphones priced under 1,000 Chinese yuan (US$164) to target the low-cost segment in China, which is crowded with Chinese handset makers. (CNA)

■ Taiwan has seen a 35.7 annual drop in Chinese tour groups in the first 20 days of October, the result of a new ban in China on low-cost, low-quality tours. According to Taiwan's Tourism Bureau, local travel agents expected the sector to be hit hard by China's ban. (CNA)

■ President Ma Ying-jeou denied Tuesday an accusation that his government deals with China only on economic issues while avoiding anything political, saying there has been no attempt "to deliberately sidestep issues that are politically sensitive." (CNA)

■ Taiwan and the Philippines established mechanisms Tuesday to inform each other of any fishery-related incidents in their overlapping exclusive economic zones, the Ministry of Foreign Affairs said. (CNA)

■ Kao Chen-li of the Changhua-based Chang Chi Foodstuff Factory Co. has admitted that his firm has been adding cheap cottonseed oil to soybean oil and marketing the hybrid as pure soybean oil, prosecutors in Changhua County said Tuesday. Kao confessed that the proportion of the mix would change depending on the price of soybean oil.

■ The Bureau of Statistics DGBAS released the latest unemployment figures for September on Tuesday, showing that unemployment was down 0.09 percent to 4.24% from last month. The seasonally-adjusted unemployment rate for September hit 4.18%, lower than the 4.19% seen in August.

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