Taiwan shares close down after central bank and Fed raise interest rates

Taiwan shares close down after central bank and Fed raise interest rates

2022-09-23

Taiwan shares on Friday closed down 166 points to 14,118, after the U.S. Fed and Taiwan’s central bank announced hikes to key interest rates. Analysts advise investors to pick good stocks and wait the turbulence out. Let’s hear from an analyst.

David Chu
Hua Nan Securities Investment Management
If we extend the time series analysis, where would the stock market go in the worst case scenario? What happens next? There will be bigger opportunities. Over the short term, of course there will be some impact from U.S. shares and bonds. It doesn’t seem like the market is ready for a rebound there. Moving forward in October, companies will announce their revenues for September. Look out for how share prices react when the announcements are made.

Among the most significant falls on Friday were TSMC shares, which closed down NT$9.5, while Mediatek shares hit their lowest point in years. The only gains were on the transport and tourism sectors. Over in the foreign exchange market, the new Taiwan dollar continued depreciating, closing at 31.665 against the greenback.

股匯雙殺"週線連5黑" 台股面臨利空測試

2022-09-23

繼美台接連升息， 23號台北股市跌166點，收在1萬4118點，周線連五黑！分析師提醒股民們，台股將面臨利空測試，不用殺低，反而可以挑點好股，等局勢穩定再進場。

[[華南投顧董事長儲祥生]]
“把股票的時間序列拉長，股票市場在最壞的情況之下，接下來怎麼樣？就是好的機會會比較大。短期當然會受到美股的影響美債影響，暫時不會有好的反彈格局。10月要公布9月份的營收，看一下營收出來的時候股價的反應。”

權值股台積電23號再度重挫，終場下跌9.5元，聯發科盤中創下近年最低點，只有航運股、觀光股股價收漲。而新台幣也再貶4.9分來到31.665兌一美元，股匯市再度雙殺。

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Travel agents optimistic as Taiwan plans to end mandatory arrival quarantine

Travel agencies say enquiries about overseas travel are through the roof after the government announced plans to end arrivals’ quarantines as early as Oct. 13. An especially popular destination is proving to be Japan, which will open to independent tourists on Oct. 11. The transport ministry says it has already made plans to do away with quarantine hotels and quarantine taxi services, and resume normal operations at Taiwan’s international airports.

If you’re dreaming of experiencing autumn in Japan, now’s the time to make it happen.
Taiwan is expected to remove travel quarantines as early as Oct. 13, and Japan is opening up to independent travelers around that date. Phones are ringing off the hook at travel agencies.

Shan Feng
Travel agency
Japan is allowing entry to travelers without visas, and that’s driving up business for us. Before the pandemic, travel to Japan accounted for 40% of our revenue. We hope that Japan’s lifting of restrictions on visa-free travel can once again allow Japan travel to account for 30% of our revenue from mid-October to year’s end.

Travel agents warn that plane tickets to Japan are much more expensive than before.

Shan Feng
Travel agency
The price of tickets to Japan is up by 30% to 40%. But it’s worth it if you visit as an independent traveler, because shopping and other expenses are cheaper thanks to the weaker yen.

Airlines are ready for a travel boom. Tigerair Taiwan says it will add 220 flights in October to destinations in Japan, South Korea and Thailand.

Starlux Airlines has at least four weekly flights to 10 destinations, including Macau, Penang and Osaka. It is also resuming its daily flights to travel hotspots such as Singapore and Bangkok.

Agi Chan
Taoyuan airport industry association
We hope the government will be more proactive in opening up to more people, so that we can gradually revive our economy. I think it would be very helpful toward economic recovery in Taiwan and abroad.

Go into Taoyuan Airport now, and all you’ll see are empty corridors, even during business hours. A local industry representative says he hopes Taiwan will open up as soon as possible to boost economic recovery.

Wang Kwo-tsai
Transport minister
We have finished up the guidelines for arrivals and departures, and conducted the relevant training courses. On this front, things will return to normal. We hope more tourists will come to Taiwan.

The transport ministry says that starting Oct. 13, quarantine hotels and taxis will cease to exist. Taoyuan International Airport will return to operating as it did before COVID, ready to welcome travelers once again.

2022-09-23

Hoteliers voice concern over government plans to phase out quarantine hotels

Hoteliers are voicing concern over government plans to phase out quarantine hotels, which will be rendered obsolete with the end of quarantines for international arrivals. Some say the transition to normal tourism operations won’t be easy, given the current shortage of labor in the hospitality sector. Others say there are oversights in the phaseout plan. They say there are no clear instructions on what to do with travelers who have to isolate after catching COVID in Taiwan. Some suggest that a handful of quarantine hotels could be converted into centers that cater specifically to this demographic, taking advantage of the experience garnered over the past years.

Wearing a full set of protective clothing, he sprays disinfectant to thoroughly sanitize the room. Mandatory quarantines for travelers could be removed as early as Oct. 13, spelling the end for quarantine hotels. Hoteliers say that, although they knew this day would come, they still have a few concerns about the future.

Michael Hsueh
Hotel group
What if a guest tests positive? We are not very clear about what to do about that. The government just told us that they are planning to phase out quarantine hotels. We haven’t been told about the fine details about how to go about this and the rules to follow.

Tseng Mei-chuan
New Taipei City Hotel Association
Quarantine hotels can be transformed into specialized hotels for housing COVID patients. Their staff have been trained for a while now, and they have the expertise. People who catch COVID and have to isolate should absolutely not stay at regular hotels. The infection rate for international arrivals is still very high.

Hoteliers say tourists who test positive while staying at a regular hotel could pose an infection risk for other guests. They say one way to avoid this is by turning some of the quarantine hotels into specialized accommodation for infected travelers. Meanwhile, some quarantine hotels say that going back to normal tourism operations is not easy, as there is a shortage of manpower.

Michael Hsueh
Hotel group
There is a massive shortage of housekeepers. Our employees have gone through training to be able to perform each other’s jobs. At least in the short term, they can support each other, so we should be OK on that front.

Tseng Mei-chuan
New Taipei City Hotel Association
I call on our government to assist our industry with recruiting migrant workers. Otherwise, there will be insufficient personnel in the tourism industry.

A short-term manpower shortage has become a major challenge in the hospitality sector. Some hoteliers say they hope the government will release supporting measures, explain procedures clearly and provide subsidies and training, to help quarantine hotels ease back into normal business.

Victor Wang
CECC
We might need a little longer to completely phase out quarantine hotels. But we can’t wait forever. We can’t wait for them all to reconvert before we lift quarantine restrictions. So we can open up while putting in place policies with medium-term plans.

The CECC says it will discuss plans to phase out quarantine hotels with the Tourism Bureau. With only three weeks left before the potential end of quarantines, hoteliers say they hope they will be given enough time to prepare for the arrival of international tourists.

2022-09-23

Raknus Selu Trail: a pilgrimage route for Hakka and Indigenous history

The Raknus Selu Trail is an ancient path that stretches almost 400 kilometers down Taiwan’s central mountain range. Along the track are dozens of ancient villages that carry the histories of Indigenous and Hakka people. It’s a pilgrimage route not only for nature buffs, but also those who want to connect with ancestral stories. A new TV show produced by the Hakka Affairs Council is bringing this hidden gem to light.

Provincial Highway No. 3 runs through the beautiful mountains of central Taiwan. Near the highway lies the legendary Raknus Selu Trail. Its reputation enticed professional trail runner Chou Ching to return from Europe to check it out. Travel show hosts Gigi and Stanley were also enthralled by the trail.

Gigi Lin
Travel expert
I think what’s amazing about the Raknus Selu Trail is not just that it’s a mysterious, ancient trail, but every old trail is linked to a small town. We love going to Hengshan, and the Dashanbei Trail there is so fun.

The Raknus Selu Trail stretches 380 kilometers from Longtan in Taoyuan to Taichung’s Dongshi District. You can still see traces of the peoples who first cleared this path. As you walk, you pass through a string of Hakka and Indigenous villages, learning the local people’s stories of conflict, struggle, love and devotion. And in the 19th century the trail became a portal to the world, as the camphor trees which line it became a major export. The Hakka Affairs Council hired Golden Bell Award winning presenter Danny Wen and English cameraman Chris Stowers to walk the trail and film their adventure.

Yiong Con-ziin
Hakka Affairs Council minister
This is a trail of hardship for our Hakka forebears, and a trail of blood for our Indigenous forebears. It’s also a pilgrimage trail for all Taiwanese people to get closer to the land and get to know our history.

The longest national trail affords walkers not just stunning views of Taiwan’s forests, but also many insights into the history and cultures of the island. As we head into autumn, the Raknus Selu Trail is a perfect travel destination for nature lovers.

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Chinese lion design in Miaoli paddy field with five different colored rice plants

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Japan PM Kishida Fumio says he fears that today’s Ukraine may be tomorrow’s East Asia

The ever-growing tense relationship between Taiwan and China has cought the attention of another global leader. This time, it was Japanese Prime Minister Kishida Fumio. In a press conference following the United Nations General Assembly, Kishida was asked if Japan would fight alongside the U.S. if China invaded Taiwan. He responded that Japan would take "concrete measures" to protect its citizens and their livelihoods. He also said he felt a sense of impending doom and that today’s Ukraine could be tomorrow’s East Asia.

After attending the U.N. General Assembly in New York, Japanese Prime Minister Kishida Fumio held a press conference, where he was asked what Japan would do if there was a Chinese invasion of Taiwan.

Reporter
Bloomberg
President Biden recently said that the U.S. is prepared to deploy U.S. forces in the case of China invading Taiwan. Is Japan prepared to deploy its forces alongside the U.S.?

Kishida Fumio
Japanese prime minister
Regardless of the circumstances, in order to protect the nation and the lives and livelihoods of our citizens, we must abide by our legal framework based on our domestic laws, including the constitution and the Legislation for Peace and Security, and respond with concrete measures. This will not change under any circumstances.

A few days ago, U.S. President Joe Biden said for the fourth time the U.S. was willing to defend Taiwan. Kishida apparently did not say much about how Japan would act. However, he reiterated that a new Japanese security strategy would be formulated within this year and that defense capabilities would be thoroughly strengthened within five years. Next year, Japan’s defense budget is expected to reach a new high of 5.6 trillion yen, which is about NT$1.24 trillion.

Kishida Fumio
Japanese prime minister
Some countries do not abide by norms and use military force and coercion to trample over the peace and security of other countries. In order to prevent these kinds of situations from occurring, increased defense budgets can have a deterrent effect.

Kishida did not name or openly criticize China. He noted that Japan did not seek confrontations and would pursue dialogue — but he still felt a strong sense of crisis.

Kishida Fumio
Japanese Prime Minister
We have witnessed Russia’s aggression against Ukraine. I think Ukraine may be tomorrow’s East Asia. I have a strong sense of crisis.

China’s recent military exercises have reminded everyone about its intentions to annex Taiwan. Japan is taking precautions to prepare for a potential crisis in the Taiwan Strait.

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New movie ‘Untold Herstory’ depicts Taiwanese women’s concentration camp

A new film to be released in October, tells the true stories of Taiwan’s female political prisoners. In the 1950s, many women were sent to a concentration camp on Green Island for so-called political crimes. And the film’s producer is none other than former legislator Yao Wen-chih. After losing the Taipei mayoral election in 2018, Yao bowed out of politics. But now he’s back in the news, with the first major release of his film company. Directed by Zero Chou, the movie is based on ’Bonfire Island’ by Tsao Chin-jung.

Since leaving the legislature, Yao Wen-chih spent a while in obscurity. Now he’s back in this exclusive interview with FTV, not to talk politics, but to promote his new movie. “Untold Herstory” comes out in October.

Yao Wen-chih
Former lawmaker
Liumagou is the only natural spring on Green Island. In those days, all the political prisoners were given the code “Liumagou No. 15.” What I’m looking forward to is everybody understanding that era better, and understanding how our democratic freedoms came to evolve.

“Untold Herstory” tells the true stories of Taiwanese women who were convicted of political crimes in the 1950s. They were sent to a concentration camp on Green Island to undergo “ideological reeducation.” The contrasting stories of three women of different generations are told side by side. But what they share in common is being seized and sent to the camp for reading unacceptable books or singing controversial songs. Yao says that if these stories aren’t captured, the picture of Taiwan’s history will be incomplete.

Yao Wen-chih
Former lawmaker
If we don’t tell these stories enough, then our next generation won’t know how we got here. If you’ve seen the Korean film “A Taxi Driver,” it shows the evolution of the era from the perspectives of ordinary people. For the last decade or two decades, I’ve been wishing there would be people with the breadth of vision, and more financiers, who would do things like this. But I never saw it. Now that I’m no longer a legislator, I can do it.

Tsao Chin-jung
Author of ‘Untold Herstory’
I’m really looking forward to it. There are no films that are based on material from oral accounts of Taiwanese history.

Yao was under immense pressure at certain points during filming when finances were tight.

Yao Wen-chih
Former lawmaker
The hardest thing was spending a million dollars every day, just burning through it while filming is underway. At that point we had a funding shortfall of NT$40 million. We were continuously managing the crew there. I hope we can expand on Taiwan’s history with many movies. What I’m planning now is the story is Chen Cheng-po, as well as a love story against the backdrop of the 1935 Taiwan Exposition.

Despite the financial strain, Yao says he will stay in the movie business. He wants to use the silver screen to ignite more conversations about the roots of Taiwan’s history and society.

2022-09-23