Day: August 31, 2022

Taiwan's Cloud Gate Dance Theater will hold a free, open-air performance of its production "13 Tongues" in front of Hsinchu City Hall this Saturday evening.

The show, which will begin at 7:30 p.m., is the sixth and final performance to be held as part of Hsinchu's 2022 Summer Art Cultural Festival, the city's acting mayor, Chen Chang-hsian (???), said in a press release Wednesday.

13 Tongues, which premiered in 2016, was written by Cloud Gate artistic director Cheng Tsun-lung (???) based on his childhood memories of the bustling street life in Taipei's Bangka area -- today's Wanhua District.

The title of the piece comes from a legendary street artist and storyteller, who was given the name because of his ability to use different voices to portray a wide range of characters.

The show's dance arrangements are set to Taiwanese folk songs, Taoist chants and electronica music, and accompanied by colors, shapes and images projected onto the stage.

Because rain from the outer bands of Typhoon Hinnamnor is forecast for Saturday, anyone planning to attend the event should check the Hsinchu City Cultural Affairs Bureau website in advance to confirm whether the show will be held as scheduled.

Source: Focus Taiwan News Channel

Shares in Taiwan moved higher to end above the 15,000-point mark Wednesday as the electronics sector recouped early losses, helping the broader market climb out of its previous doldrums, dealers said.

Turnover remained thin, however, as investors remained cautious amid lingering concerns over possible volatility among tech stocks in the U.S., which could be affected by expectations of Federal Reserve interest rate hikes, they said.

The Taiex, the Taiwan Stock Exchange's (TWSE) weighted index, ended up 141.81 points, or 0.95 percent, at the day's high of 15,095.44 after coming off a low of 14,874.33. Turnover totaled NT$207.89 billion (US$6.85 billion).

The market opened down 0.28 percent and soon fell to the day's low after a 0.96 percent fall in the Dow Jones Industrial Average and a 1.12 percent decline in the tech-heavy Nasdaq index overnight, dealers said.

Dow futures trending higher

After 11 a.m., however, bargain hunters emerged and picked up large cap semiconductor stocks, in particular contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), dealers said.

"The Dow has moved lower for three straight sessions due to concerns over a hawkish Fed, and its latest losses dictated the initial downturn on the Taiex today," Cathay Futures Consultant analyst Tsai Ming-han said.

"But Dow futures then started trending higher, pointing to a possible rebound on the spot market later in the day, which encouraged investors in Taiwan to find value," Tsai said.

Tsai said the electronics sector regained its footing as TSMC, the most heavily weighted stock in the local market, rose 1.81 percent to close at the day's high of NT$505.00, off a low of NT$492.00.

TSMC's gains contributed about 75 points alone to the Taiex's increase, and pushed up the electronics sector and the semiconductor sub-index by 1.19 percent and 1.70 percent, respectively.

"It remains to be seen whether TSMC will test the NT$500 mark again. It will depend on the performance of tech stocks on U.S. markets, as they are highly correlated with their Taiwanese counterparts," Tsai said.

Other tech stocks

Among other large cap semiconductor stocks, United Microelectronics Corp., a smaller contract chipmaker, rose 1.73 percent to end at NT$41.10, and smartphone IC designer MediaTek Inc. gained 1.52 percent to close at NT$667.00.

But application-specific IC (ASIC) designer Alchip Technologies Ltd. bucked the upturn, shedding 1.04 percent to end at NT$857.00.

Also in the electronics sector, leading flat panel makers continued the uptrend seen Tuesday, with AU Optronics Corp. closing 2.13 percent higher at NT$16.75 and Innolux Corp. gaining 1.26 percent to end at NT$12.10 on the back of a recovery in TV screen prices.

In addition, iPhone assembler Hon Hai Precision Industry Co. added 0.46 percent to close at NT$109.00, while power management solutions provider Delta Electronics Inc. lost 0.38 percent to end at NT$263.00.

Outside electronics serctor

Buying was also seen in the non-tech sector, with the biotech sector in focus, gaining 1.90 percent, dealers said.

Medical equipment supplier Maxigen Biotech Inc. soared 10 percent, the maximum daily increase, to close at NT$49.40, drug developer China Chemical & Pharmaceutical Co. rose 2.23 percent to end at NT$22.90, and test kit brand Panion & BF Biotech Inc. added 1.64 percent to close at NT$154.50.

Airline stocks gained ground amid hopes that the government will ease border controls soon, dealers said.

In the transportation sector, which rose 0.69 percent, China Airlines gained 2.47 percent to close at NT$22.80, and rival EVA Airways rose 2.27 percent to end at NT$33.75.

In the financial sector, which rose 0.80 percent, E. Sun Financial Holding Co. added 1.99 percent to close at NT$28.20, and Mega Financial Holding Co. rose 1.27 percent to end at NT$35.90.

"With the Taiex rising above 15,000 points, it could consolidate for some time ahead of the nearest technical resistance at around 15,150 points," Tsai said. "Investors should pay close attention to fluctuations in the U.S. markets."

According to the Taiwan Stock Exchange, foreign institutional investors bought a net NT$2.74 billion in shares Wednesday.

Source: Focus Taiwan News Channel

Taiwan is set to take delivery of about 500 monkeypox vaccine doses on Sept. 2, the Centers for Disease Control (CDC) said Wednesday.

The CDC had previously said that the shipment of third-generation smallpox vaccines is clinically suitable for preventing monkeypox.

The shots will be reserved for medical personnel, laboratory workers, and people who have recently come in close contact with monkeypox patients, CDC head Chou Jih-haw (???) said at a press briefing.

Chou added that the CDC would try to secure more vaccine doses after receiving the first shipment.

Taiwan has recorded three monkeypox infections since June 24, all of which were imported, with the patients all discharged from medical facilities following quarantine, according to Chou.

On July 27, Taiwan took delivery of 504 doses of tecovirimat, an oral treatment for monkeypox that the CDC said will be prescribed to those suffering from severe symptoms and people with immunodeficiencies.

Source: Focus Taiwan News Channel

Taiwanese companies with overseas operations that made new investments in Taiwan under three government incentive programs over the past three years posted higher growth in production value than the local manufacturing sector as a whole, according to the Ministry of Economic Affairs (MOEA).

In a report released earlier this week, the MOEA said as of Aug. 4, a total of 266 Taiwanese manufacturers with overseas operations had taken advantage of the government's three incentive programs introduced in 2019, and including such things as preferential rates.

From 2019-2021, 174 of these Taiwanese firms posted an average of 8.1 percent in output growth on their new investments in Taiwan, compared with a 4.6 percent increase recorded by the entire manufacturing sector.

The MOEA said the higher output growth enjoyed by the 174 firms from 2019-2021 was largely because many received higher value orders from U.S. buyers after making new investments in Taiwan that avoided sanctions imposed by Washington on Beijing.

As of Aug. 4, the 266 Taiwanese firms had invested NT$1.07 trillion (US$35.20 billion) in Taiwan as part of the three programs.

According to the MOEA, 78 firms of the 266 firms are in the electronic components industry and invested NT$584.3 billion, accounting for 54.5 percent of the total NT$1.07 billion in total investment, while 44 are in the computer/optoelectronics industry and invested NT$182.7 billion, making up 17.0 percent of the total.

In addition, the MOEA said investments by these Taiwanese firms also helped the nation build a comprehensive supply chain, in particular in the semiconductor industry.

With investments by the semiconductor firms and optoelectronics suppliers on the rise, funds poured into fixed assets such as production equipment, plants and other property in the manufacturing sector totaled about NT$4.87 trillion from 2019-2021, up 42.2 percent from 2016-2018, the MOEA said.

The firms that took advantage of these incentive programs also boosted the local job market from 2019-2020, the MOEA said.

During that period, the workforce employed at these new investments rose 2.1 percent on average, compared with a 0.6 percent increase in the entire manufacturing sector, while average annual wage growth was 4.2 percent, compared with 3.2 percent in the manufacturing sector as a whole, the MOEA added.

The MOEA has extended the three incentive packages to encourage Taiwanese investors to invest more at home for an additional three years, until 2024.

Source: Focus Taiwan News Channel

A non-profit group in Taiwan is launching a drive to collect hair trimmings and tights for use as sorbents in the event of an oil spill, two legislators said Wednesday.

Hair salons and tights manufacturers are urged to join the drive, which will start Thursday, Democratic Progressive Party (DPP) Legislator Tang Hui-jane (???) said at a press conference.

In some other countries, people have been stuffing pantyhose with hair trimmings to make oil booms, Tang noted, adding that studies have shown 1 kilogram of human hair can absorb 8 kg of oil.

Oil spills are usually reported near Taiwan every year as a result of tanker ship accidents, while oil is also discharged into the sea from offshore installations and coastal refineries, she said.

The collection drive for hair trimmings and stockings will be launched on Sept. 1, ahead of World Cleanup Day on Sept. 17, which was started by the people of Estonia to tackle the waste problem and create a more sustainable environment, according to DPP lawmaker Lai Pin-yu (???).

In addition, an art exhibition will be held at Taipei Xin Zhong Shan Park from Sept. 29 to Oct. 10 to showcase art works made from discarded hair, said Lai, head of the non-profit Asian Arts & Cultural Creation Industry Development Association, which is one of the organizers of the collection drive.

World Cleanup Day is observed annually on the third Saturday in September.

Source: Focus Taiwan News Channel

Visiting Palauan Vice President J. Uduch Sengebau Senior underscored the importance of three newly signed cooperation deals between Taiwan and Palau for her country's future, during a virtual meeting with President Tsai Ing-wen (???) in Taipei Wednesday.

Senior, who arrived in Taiwan Saturday for a five-day visit, said the three bilateral agreements were "so important to Palau's future" as the Pacific island nation endeavors to protect its people and natural resources against encroachment from illegal activities.

On Tuesday, Senior's delegation signed three memorandums of understanding (MOU) with Taiwan's Ministry of Justice and National Science and Technology Center for Disaster Reduction that will serve as a basis for mutual legal assistance in criminal cases and forensic assistance between the two countries, as well as bilateral collaborations on disaster management.

Senior, who concurrently serves as the Palauan justice minister, also expressed hope that the exchange of knowledge and expertise on forensic science between Taiwan and Palau "will build our capacity at home" for criminal investigation.

The meeting between Senior and Tsai was held virtually after the Palauan vice president was placed under isolation on Sunday.

According to Taiwan's Ministry of Foreign Affairs, Senior had been asked to isolate after "some members" of the visiting vice president's delegation tested positive for COVID-19.

The delegation wrapped up their trip to Taiwan on Wednesday morning after the meeting with Tsai, MOFA said.

Senior told Tsai that Palau and Taiwan had developed a close relationship since the establishment of diplomatic relations in 1999, adding that the two countries had collaborated on education, agriculture, public health, fisheries, security, and judicial matters.

Senior added that she looked forward to establishing "more bilateral mechanisms" in the near future to strengthen efforts in the areas of "justice, maritime surveillance, disaster management and information technology."

Speaking in the same vein, Tsai expressed hope that the two countries would continue expanding mutually beneficial exchanges in a variety of fields.

Tsai also thanked Palau, one of 14 counties that still maintain diplomatic relations with Taipei, for long championing Taiwan's international participation, which she said was a demonstration of the spirit of mutual support shown by democratic allies.

Source: Focus Taiwan News Channel

With Japan's announcement Wednesday that it will raise the daily cap on inbound visitors from 20,000 to 50,000 and drop the requirement for tourists to be in "guided" tour groups, Taiwanese travel agencies said they would look to team up with their Japanese counterparts to promote visits by Taiwanese tourists.

The easing of border controls will take effect on Sept. 7 and will allow visitors to enter Japan in "non-guided" groups, Japanese Prime Minister Fumio Kishida told reporters at the Prime Minister's Office. More details will be released by the authorities soon, according to Japanese media.

The announcement marked a slight change from rules that Tokyo implemented in June, which only allowed entry to travelers as part of guided tour groups.

While travelers will not need to be accompanied by a guide when in Japan from Sept. 7, they will still be required to follow itineraries set by travel agencies, according to media reports.

Commenting on Japan's new travel rules, Taiwan's Tourism Bureau said that local travel agencies could sell customers flight and hotel packages and put them in touch with Japanese travel agencies that will take care of them while they are in Japan.

Visiting Japan will be more complicated than in the past, as tourists will need Japanese travel agencies to help them purchase insurance plans and vouch for the purposes of their trips and health in order for them to apply for a travel visa, Chung Hsing Travel Service President Lee Chee-yuen (???) said, adding that this process will cost between 10,000 and 15,000 yen (US$72-US$108) for trips lasting five to seven days.

Under the new regulations, Lee estimated that the number of Taiwanese tourists heading to Japan will rise by 30 percent.

Also from Sept. 7, travelers who have received three shots of a COVID-19 vaccine will not need to present a negative PCR test report upon boarding flights to Japan.

However, a shortage of flights, rising airfare costs, and the month-long wait for travel visas to be approved are all problems that could discourage people from visiting Japan, he said.

According to statistics published by the Immigration Services Agency of Japan, the daily number of arrivals in July was about 14,000, which rose to about 20,000 in August.

When asked to comment on the fact that Japan is the only Group of Seven (G7) member that still caps the daily number of inbound visitors, Kishida has said that border controls would be eased gradually after factoring in the COVID-19 situation in Japan.

Source: Focus Taiwan News Channel

A sea warning is expected for Super Typhoon Hinnamnor on Friday, the Central Weather Bureau (CWB) said Wednesday, adding that it does not rule out the possibility of a land warning.

As of 2 p.m. Wednesday, the storm was located around 780 kilometers east of Taipei, moving in a southwesterly direction at a speed of 22 km per hour, packing sustained winds of 198 kph and gusts of up to 245 kph, according to CWB data.

Hinnamnor could reach its strongest in the next 12 hours, with its radius forecast to reach 300 km within 72 hours, forecasters said.

Taiwan may see more significant impact from Hinnamnor on Friday and Saturday, when the storm will be closest to the country, the bureau said.

While a sea warning is likely around Friday morning, whether there is a land warning will depend on the strength of Hinnamnor and how much it veers northward toward Japan's main islands and South Korea before moving in the direction of Taiwan, the CWB said.

The path of the typhoon may be determined by its interaction with a tropical depression to its south and a Pacific high pressure area to its east, according to forecasters.

From late on Wednesday to Sunday, the storm's periphery could bring showers to northern and northeastern parts of Taiwan, the bureau said.

Central and southern Taiwan could see showers from Friday to Sunday, when Hinnamnor will begin to move away from the country, it said.

As a precaution, the Tourism Bureau announced Wednesday that the Guishan Island scenic area in northeastern Taiwan will be temporarily closed from Thursday to Saturday due to the increased chances of strong winds and high waves.

Source: Focus Taiwan News Channel