Taiwan shares end lower as 'Apple concept stocks' suffer | Taipei, Dec. 10 (CNA) Shares in Taiwan moved lower Tuesday, led by major suppliers to Apple Inc., after the American consumer electronics giant suffer

Taiwan shares end lower as 'Apple concept stocks' suffer

Taiwan shares end lower as 'Apple concept stocks' suffer

Taiwan shares end lower as 'Apple concept stocks' suffer

Taiwan shares end lower as 'Apple concept stocks' suffer

Taiwan shares end lower as 'Apple concept stocks' suffer

Taiwan shares end lower as 'Apple concept stocks' suffer
Taiwan shares end lower as 'Apple concept stocks' suffer
  • By: focustaiwan.tw
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Taipei, Dec. 10 (CNA) Shares in Taiwan moved lower Tuesday, led by major suppliers to Apple Inc., after the American consumer electronics giant suffered losses on the United States market overnight, dealers said.

In Taiwan, selling of the "Apple concept stocks" came amid concerns over possible additional U.S. tariffs on Chinese goods, including iPhones assembled in China, if Washington and Beijing do not sign a phase-one deal before the Dec. 15 deadline, dealers said.

The weighted index on the Taiwan Stock Exchange (Taiex) ended down 32.93 points, or 0.28 percent, at 11,627.84, after moving between 11,607.26 and 11,649.73. Turnover totaled NT$103.31 billion (US$3.39 billion) during the session.

The market opened down 0.11 percent as major Apple suppliers such as chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) and iPhone assembler Hon Hai Precision Industry Co. came under pressure in the wake of a downturn on Wall Street, where Apple shares fell 1.4 percent Monday, dealers said.

As the Taiex drew closer to the nearest technical support at around 11,600 points, however, the losses were capped and the index moved in a narrow range for the rest of the trading session, they said.

The U.S. has threatened to impose tariffs on an additional US$156 billion worth of Chinese merchandise if the two sides fail to sign a deal by Dec. 15.

"The Chinese goods targeted by the tariffs would include smartphones and notebook computers, which means Apple products made in China would be heavily affected," Mega International Investment Services Corp. analyst Alex Huang said.

"It was no surprise that after Apple shares fell in the U.S., stocks of its suppliers in Taiwan dropped."

He said investors also seized the trade tensions as a reason to lock in their gains from recent sessions.

Among the losing Apple concept stocks, TSMC, the most heavily weighted stock on the local market, fell 0.79 percent to close at NT$313.50, with 20.52 million shares changing hands. TSMC's losses contributed about 25 points to the fall of the Taiex and pushed down the bellwether electronics sector by 0.46 percent.

Also in the Apple supply chain, Hon Hai, second to TSMC in terms of market capitalization, lost 0.77 percent to end at NT$90.30, metal casing maker Catcher Technology Co. fell 1.77 percent to close at NT$249.50, and smartphone camera lens supplier Largan Precision Co. shed 3.01 percent to finish at NT$4,675.00.

The global trade issues also sparked selling in non-tech stocks amid worry that weaker demand would depress prices, dealers said.

Food brand Uni-President Enterprises Corp. lost 0.83 percent to close at NT$71.80; Hotai Motor Co., Taiwan's largest car vendor and the local sales agent of Japan's Toyota Motor Corp., fell 0.49 percent to end at NT$612.00; and Formosa Plastics Corp. dropped 0.21 percent to close at NT$96.50. Bucking the downturn, Nan Ya Plastics Corp. finished 0.28 percent higher at NT$71.10.

In the financial sector, which closed up 0.06 percent on the back of companies' solid bottom lines, Cathay Financial Holding Co. rose 0.97 percent to end at NT$41.70, and Mega Financial Holding Co. gained 0.17 percent to finish at NT$30.20.

"I think the Taiex had strong technical support today at around 11,600 points, as it neared the 5-day and 10-day moving average," Huang said.

According to Taiex data, foreign institutional investors sold a net NT$2.73 billion worth of shares on the main board Tuesday.

(By Frances Huang)

Artisan lacquer craft exhibited in Taipei

Artisan lacquer craft exhibited in Taipei

Taipei, Dec. 10 (CNA) A collection of some 50 pieces of handmade lacquer works by master artisan Wang Ching-shuang (王清霜) and his descendants opened Tuesday in Taipei, showcasing three generations of Taiwanese handicrafts.

The "Magnificent. Illustrious -- Lacquer Art Exhibition Presented by National Living Treasure Mr. Wang Ching-shuang and Family" had its opening ceremony at the National Taiwan Craft Research and Development Institute's (NTCRI) Taipei branch.

The artworks include the works of Wang Ching-shuang, two of his sons -- Wang Shien-ming (王賢民) and Wang Shien-chih (王賢志) -- grandson Wang Chun-wei (王峻偉) and granddaughter Wang Yi-ting (王怡婷).

Born during Japanese colonial rule in 1922, the 97-year-old was designated by the Council of Cultural Affairs as a "National Living Treasure" in 2010 for his preservation of lacquer craft.

He also received the Order of Brilliant Star with Grand Cordon -- the highest award bestowed to a civilian -- for his dedication and preservation of lacquer arts by former President Ma Ying-jeou (馬英九) in 2016.

Wang Ching-shuang received his training at the lacquer department of the Taichung Polytechnics School in 1937 and went to Japan to study lacquer art in 1940.

In 1959, he began producing lacquerware for the mass market and exported his products through his Mei Yen Lacquer Art Co. Ltd. before concentrating more on artistic creations in the 1990s.

Among the works displayed at the exhibition is a flat work titled "Warrior," completed this year by Wang Ching-shuang, depicting bare-chested warriors from Taiwan's indigenous tribes.

Another work on display at the exhibition is "Prosperity and Peacefulness," created by Wang Chun-wei in 2019, which depicts three cows painted in red, yellow and blue.

An earlier version of the piece was given by Taiwan's Ministry of Foreign Affairs as a gift to diplomatic ally eSwatini when officials visited the African country earlier this year, he said.

Prosperity and Peacefulness

Culture Minister Cheng Li-chiun (鄭麗君) said the exhibition shows the preservation of lacquer art and that the three generations of the Wang family are an important page in Taiwan's handicraft history.

The exhibition will run through April 24.

Master artisan Wang Ching-shuang (王清霜, left) and his grandson Wang Chun-wei (王峻偉)

(By William Yen)

Taipei 101 animation to highlight periodic table of elements

Taipei 101 animation to highlight periodic table of elements

Taipei, Dec. 10 (CNA) Taipei 101 will celebrate the periodic table of chemical elements with a short animation on its LED light wall this weekend, the Ministry of Science and Technology (MOST) announced Tuesday.

The animation, which lasts 30 seconds, will be replayed in a loop from 6:30 p.m. to 7 p.m. every day from Dec. 13 to 15.

2019 marks the 150th anniversary of the creation of the periodic table by Russian chemist Dmitri Mendeleev, and it has been proclaimed the "International Year of the Periodic Table of Chemical Elements" by the United Nations.

To celebrate the anniversary, the MOST, along with the Ministry of Education, National Taiwan Normal University and the Chemical Society Located in Taipei (CSLT), has organized a series of events that highlight the themes "the elements are everywhere" and "cherish resources."

Coincidentally, the chemical element named in honor of Mendeleev, Mendelevium (Md), has the atomic number 101, which is why the CSLT thought of promoting the periodic table on the 101-floor skyscraper, according to CSLT Chairperson Chiu Mei-hung (邱美虹).

Other events being organized include exhibitions in four museums, and some subway trains in Taipei will be decorated based on the periodic table theme.

The trains will start operating Dec. 11 on the Bannan Line and Danshui Line, and will run for two and a half months.

(By Pan Tzu-yu and Chiang Yi-ching)

Bill asks Pentagon to form US-Taiwan cybersecurity group

Bill asks Pentagon to form US-Taiwan cybersecurity group

Washington, Dec. 9 (CNA) A conference agreement version of the National Defense Authorization Act (NDAA) for fiscal 2020 suggests the U.S. government should study the feasibility of forming a U.S.-Taiwan working group to coordinate responses to cybersecurity issues, among other recommendations designed to enhance defense and security cooperation between the two countries.

A review of the bill, released by the U.S. Congress on Monday, indicates that issues concerning Taiwan were mentioned in sections 1260B, 1260C and 1260D, touching on cybersecurity activities with Taiwan; a review and report related to the Taiwan Relations Act (TRA); and enhancing the U.S.-Taiwan defense relationship.

Section 1260B of the bill stipulates that the U.S. Secretary of Defense shall submit to the Congressional defense committees a report on the feasibility of a "high-level, interagency United States-Taiwan working group for coordinating responses to emerging issues related to cybersecurity."

Section 1260C asks the Secretary of Defense to review Chinese coercion toward Taiwan; cross-strait military balance; and to make sure the future of Taiwan will "continue to be determined by peaceful means."

Meanwhile, section 1260D asks the Secretary of Defense to report to the Congress regarding guidelines concerning the exchange of senior military officials between Taiwan and the U.S. and to ensure the U.S. continues to provide weapon systems to meet Taiwan's defensive needs under the TRA.

The bill also reiterated that Taiwan is a "vital partner" of the U.S and critical to a free and open Indo-Pacific region, while stressing that the TRA and "Six Assurances" are the cornerstone of bilateral relations.

The TRA was passed by the U.S. Congress and promulgated by then-President Jimmy Carter on April 10, 1979, months after the U.S. switched diplomatic recognition from Taipei to Beijing on Jan. 1 in the same year. It provides the legal basis for unofficial relations between the U.S. and Taiwan, and enshrines the U.S. commitment to assist Taiwan in maintaining its self-defense capability.

The Six Assurances were given by former U.S. President Ronald Reagan to Taiwan in 1982 and include pledges not to set a date for ending arms sales to Taiwan, not to hold prior consultations with China regarding arms sales to Taiwan, and not to play a mediation role between Taiwan and China.

They also include assurances that the U.S. will not revise the TRA or pressure Taiwan to enter into negotiations with China.

The conference agreement version of the NDAA 2020 was produced after a committee made up of U.S. House and Senate members worked out differences between the House and Senate versions of the act to come up with a single version of the bill before returning it to both the House and Senate for approval.

It will then be sent to the U.S. president for final approval, who has 10 days to sign it into law or veto it.

The Senate passed its version of the NDAA for fiscal 2020 on June 27, before the House did so on July 12.

(By Chiang Chin-yeh and Joseph Yeh)


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