Taiwan shares plummet 752 points, marking second-biggest drop for Taiex

Taiwan shares plummet 752 points, marking second-biggest drop for Taiex

2024-07-26

Over the past two days Typhoon Gaemi battered Taiwan, while a tech storm ravaged Wall Street. The losses dragged down Taiwan shares on Friday, with the Taiex losing 752 points, or 3.29% to close at 22,119. That’s the second biggest single-day drop for the index. TSMC shares shed NT$55 to close down 5.62% at NT$924. When will stability return? Let’s hear from an analyst.

Huang Wen-ching
Market analyst
The fall from the highest point is already a drop of 9.5%, almost 10%. From previous experience, it could reach between 10% to 12%. In late August, heavyweight tech stocks such as Nvidia will release their financial reports. If the growth continues, and there’s positive signals, then the stock prices may begin to rebound officially.

Hon Hai shares fell 4.71%, closing below NT$200, while MediaTek shed 2.35%. Amid the slump in electronics stocks, the Yuanta P-shares Taiwan Top 50 ETF proved popular with investors, with a trading volume of 423,000 shares. Amid big changes in global markets, investors have taken a more conservative approach.

For more Taiwan news, tune in:
Sun to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53

股災！台股大跌752點創史上第二大跌點

2024-07-26

台灣放颱風假這兩天，美股掀起科技風暴，拖累週五台股開盤後一路狂瀉，終場大跌752點，跌幅3.29%，收在22119點，創下史上第二大跌點。權值股台積電重摔55元，跌幅5.62%，收在924塊，何時止跌回穩，分析師點出關鍵。

[[投顧副總經理黃文清]]
“從高點跌下來，現在幅度已經將近9.5%，快要到10%，過去的經驗，10%到12%的一個空間都是存在的，像8月中下旬，這些重量級的科技股，包括輝達這邊的財報的公佈，如果還是持續的一個成長，正面的訊息，那股價就要開始正式的回升”

權值股鴻海重挫4.71%，跌破200元，聯發科收盤也跌2.35%，電金傳齊殺，資金湧向台灣50反一避險，爆出42萬3000多張成交量，國際股市恐慌情緒湧現，投資人保守一點比較安心。

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民視台灣台（152頻道）週日至週五晚上9:30
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Ann Kao suspended from office after court hands down prison sentence for corruption

Hsinchu City Mayor Ann Kao has been suspended as mayor, after the Taipei District Court sentenced her to seven years and four months in prison for corruption on Friday. Taking her place as acting mayor will be Deputy Mayor Andy Chiu. The 40-year-old Kao has been involved in a host of controversies for more than two years, one of which is fraudulent use of public funds. Kao says she will submit an appeal.

Huang Ping-chin
Taipei District Court judge
According to the panel’s review, the judges have determined that at the time of the misconduct Ann Kao was serving in the important capacity of a Legislative Yuan member, which is a position that requires honesty and law-abiding behavior. Despite this, in order to increase her discretionary funds, Kao fraudulently collected public funds from the Legislative Yuan to compensate contracted assistants. Through this illegal abuse of power, Kao embezzled overtime pay of assistants. That is the situation at hand.

The Taipei District court handed down a prison sentence of seven years and four months to Hsinchu Mayor Ann Kao, who will also be barred from serving public office for four years.

Ann Kao
Hsinchu City mayor
Concerning the first trial’s ruling, I absolutely will submit an appeal. I will now take the opportunity to officially announce that I will leave the Taiwan People’s Party immediately.

After the first trial’s ruling was announced, the Ministry of the Interior suspended Kao from office in accordance with related legal provisions. Deputy Mayor Andy Chiu will take over as acting mayor. Kao will be able to receive half her salary until a higher court pronounces a final verdict.

Lin Yen-fu
NPP Hsinchu City councilor
We’re glad to see her resign on her own accord in order to fully concentrate on the legal issues she’s facing. She’ll no longer waste public funds. She’ll be making a lot of trips to the court, so allowing her to continue to serve as mayor would only impede the city government’s ability to govern.

Yang Ling-yi
DPP Hsinchu City councilor
During her time as mayor, Ann Kao’s falsified documents have caused constant controversy. I call on the prosecutors to examine all the evidence available to see if there are any other circumstances that will come to light.

Cindy Sung
TPP Hsinchu City councilor
She left the Taiwan People’s Party. I think that she’s doing this for the benefit of the TPP. I feel really bad for her, because she actually has worked very hard during her time as mayor.

Opposition councilors have called on Kao to immediately resign as mayor, yet those close to Kao have expressed they don’t want to see her go. When these incidences happened, Kao wasn’t even 40 yet and yet she’d already become a powerful figure in the TPP. When she won the Hsinchu City mayoral election, she became the youngest city mayor or county commissioner in Taiwanese history.

Ann Kao
Hsinchu City mayor
Using political malice as a means to attack a person working for the city government, I won’t let you all get away with this.

With a court case in front of her and a looming recall campaign, it looks like the whirlwind around Kao only seems to be getting more intense.

For more Taiwan news, tune in:
Sun to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53

2024-07-26

KMT’s Yen Kuan-heng receives combined jail sentence of 8 years and 4 months

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Changhua gardens boast thriving Queen’s crape myrtles and the Siam tulips

It’s been a very hot summer, and while that’s bad news for some species, certain flowers soak up the hot weather. In Changhua, private gardens are blooming in profusion. Special heat-loving species like the Queen’s crape myrtle and the Siam tulip are having a great year. They’re already attracting lots of tourists, but some gardens won’t be at their best until mid-August. So there’s still time to head down to the gardens of Changhua this summer.

Here in Tianwei, a field of luscious crape myrtles flowers. They’re in full bloom. Lots of tourists come here to admire this “Queen’s crape myrtle” species imported from the U.S. by a botanist and then transplanted onto another species. The “Queen” is free to admire, but only by prior booking.

Tourist
Wow! It smells wonderful. So beautiful! I’ve seen white ones but never ones as brightly colored as this.

The crape myrtles bloom in great profusion over more than four months, the branches laden with buds. The owner of the garden says that the double-petal Queen’s crape myrtles have larger flowers. His biggest fear is that the plum rains will hit the blooms.

Li Chen-fu
Garden owner
If they hit the plum rains, their branches are quite fragile and will break. They retain too much water, so the whole thing just snaps. So it’s perfect this year, because there’s been no rain so the flowers are just growing bigger and bigger.

Meanwhile, at this Siam tulip field in Beidou, gardeners have planted Siam tulips of seven different colors. They’re still in bloom right now, and also attract lots of pilgrims.

Tourist
It looks like a White Ginger Lily. But it’s got a more beautiful color.

Ku Tsen-yu
Garden owner
Actually, only the little flower underneath the Siam tulip is the real flower. The upper, big flower is a sepal.

The Siam tulip loves hot weather and is blooming vigorously in these scorching temperatures. It’s expected to reach its peak blooming period in August.

For more Taiwan news, tune in:
Sun to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53

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Typhoon Gaemi downpours in south comparable with 2009 Typhoon Morakot

2024-07-26

Lai visits disaster-stricken communities in Southern Taiwan

Countless photos and videos have shown flooded homes and streets in Southern Taiwan. And with the typhoon moving on, President Lai Ching-te and Premier Cho Jung-tai headed south on Thursday to visit disaster-stricken areas. There they informed locals about the subsidies and tax breaks the government would be providing to help households and businesses recover.

President Lai Ching-te and Kaohsiung Mayor Chen Chi-mai braved the rain in order to see for themselves just how bad the damage was at this Kaohsiung banana orchard.

Lai Ching-te
President
In every part of Taiwan, not just Kaoshiung, any household that experienced flood levels that reached 50 centimeters or higher will receive NT$20,000. As for low or lower-middle income households that encountered flood levels that were under 50 centimeters, in the past the Ministry of Economic Affairs allocated NT$5,000 to these families, but this time we’ll increase that figure to NT$10,000.

In addition to flood-related subsidies from the MOEA, the Ministry of Finance has also put forward 9 tax breaks that households can utilize to help lighten their post-disaster burdens.

Lai Ching-te
President
Individual income tax and business income tax are two of the taxes included in the nine categories of tax breaks. I will urge the Ministry of Finance as well as National Taxation Bureaus around Taiwan to be proactive about helping disaster-stricken individuals by reducing the amount they pay in taxes.

President Lai also pointed out that the military had fully committed itself to disaster relief.

Lai Ching-te
President
Typhoon Gaemi came right when the 40th edition of the Han Kuang military exercises were going to be held. So, right when the typhoon made landfall I informed military leadership that the 40th edition needed to be adjusted so that the armed forces would have enough energy to commit themselves to disaster-relief work, which involves them working with local governments.

While President Lai was in Kaohsiung, Premier Cho Jung-tai made stops in Yunlin, Chiayi, and Tainan, which was his first stop. Cho’s visits allowed him to hear the needs of disaster-affected individuals.

Cho Jung-tai
Premier
I wasn’t able to be here in these places that suffered severe damage when disaster struck. Not being able to stand with the city mayors, county commissioners, and my fellow compatriots at that moment is something that truly troubles me even now.

Li Hsiao-chun
Xuejia Farmers’ Association
There’s probably about 1,100 hectares growing sorghum, and about 60% to 70% of it has been harvested. This typhoon’s rain caused there to be standing water and some sorghum crops were blown over by the wind. So, we’re taking the opportunity while the premier is here to help farmers receive subsidies to cover sorghum production costs as well as shipping subsidies.

The central and local governments are giving their all to help disaster-stricken residents, farmers, and fishers overcome all the damage caused by Typhoon Gaemi.

For more Taiwan news, tune in:
Sun to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53

2024-07-26

Car caught in a flood? Expert offers advice on what to do to prevent damage

With the flooding, Typhoon Gaemi left many damaged vehicles in its wake. So what should you do if your car is affected by a flood? Experts say that once the car is submerged, it’s best not to start the engine, and simply get the car towed to a mechanic for an inspection. If you are already driving and the water doesn’t reach one-third up the tires, it’s OK to keep driving slowly. But if the water level is any higher, turn off the engine to avoid damaging it.

The car sinks deeper and deeper, and catches a palm frond on its hood. Pray as the driver may, the engine ends up shutting down and water pours inside the car. What now?

Flooding in central and southern Taiwan left many drivers stranded. Road rescue services helped one vehicle after another. Here, the tower and driver are pushing the car up onto the tow truck. Inside, it’s soaking wet and water keeps dripping from the exhaust pipe. What a mess!

If your vehicle has been submerged in water, do not start the engine. If water has leaked in, it may be gone for good. The best response is to get the car towed to a mechanic for an engine and transmission checkup. Components such as in-vehicle computers, cables and switches may have to be pulled out to clear out any mud with a specialized cleaning agent.

Lin Chih-lung
Car repair expert
If it’s only reached the base of the car and it’s only a little bit wet and it still moves, it’s OK to just keep driving it. If the water has reached the car mat… well, there is a lot of electronic components inside, such as cables, sensors and computers that could get damaged. If the car is half-submerged or fully submerged and it can’t move any more, you should take it to a mechanic for a check-up.

If the water only reaches up about one-third of the tires and has not leaked into the interior, it’s OK to continue driving, but slowly. If it’s reached about halfway up, turn off the engine to prevent further damage. For Japanese car brands, repair costs could reach several hundreds of thousands of Taiwan dollars, and for some imported models, repair rates could soar past NT$500,000, or even NT$1 million. If the flooding has reached above the wheel, it might be time to look for a new car.

Lin Chih-lung
Car repair expert
You can look at the rubber components inside to see if there is mud or grime. Cars in good state shouldn’t have any. If the car gets submerged, the rubber gets spoiled.

The expert says insurance claims can only be made if the policy includes coverage for typhoons and flooding. But amid the high premiums in Taiwan, less than 1% of car owners have purchased such policies, leaving most with no option but to bear the costs themselves.

For more Taiwan news, tune in:
Sun to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53

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Making Taiwan’s air raid drills more realistic

Taiwan scaled back its annual military exercises that started this week as Typhoon Gaemi bore down on the island. This year’s exercises included air raid drills to raise public awareness about how to respond to an attack from China and where to seek shelter. As Voice of America’s William Yang reports, officials wanted the exercises to be as realistic as possible.

As sirens blared and traffic stopped, metro passengers were directed to underground shelters. The focus of Tuesday’s drill: simulating an incoming missile attack. Some gathered in underground parking lots like this one and squatted, bracing for impact. Brian Chen was on his way to the gym when the drill began.

Brian Chen
Chef
"Drills like this are important because if a serious disaster happens one day, Taiwanese people will be prepared. Unlike drills in the past, which were more relaxed, the air raid drills in recent years have become more stringent. The scale of the exercises has expanded over the last two years."

Taiwan is also conducting a series of “unscripted” military exercises aimed at enhancing troop’s capabilities to respond to real combat. This year’s drills removed the largely performative elements of previous exercises. Analysts say the changes are aimed at boosting confidence in the military’s capabilities. However, Taiwanese remain divided about how much confidence they have in the military.

Jackson Wang
Retiree
"Taiwan is very united and a lot of us are reservists who have received very stringent training. I’m one of them."

Lisa Liu
Receptionist
"From what I’ve heard or based on the experiences of my friends who have served in the military, I don’t have much confidence in the Taiwanese military’s combat capabilities."

Some say the exercises are not enough and that Taiwan could do more to prepare for a potential conflict.

Tim Huang
Artist
"The only way to prevent war is to be prepared for war. We can’t keep pretending that everything is peaceful."

Huang says in light of the growing threats from China, Taiwan should make future military exercises even closer to real combat.

William Yang, VOA News, Taipei, Taiwan.

For more Taiwan news, tune in:
Sun to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53

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