Ethan Zhao
Senior Reporter
The Latest
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Taiwan Stock Market Plummets 8.4% Amid Tech Sector Concerns
The Taiwan stock market experienced its worst one-day decline in history on Monday, plunging 8.4% as fears over the U.S. economy and the broader tech sector sparked a massive sell-off. The Taiex, Taiwan's weighted index, shed 1,807.21 points to close at 19,830.88, marking its lowest level since April 23. This dramatic fall was led by a significant drop in technology stocks, particularly Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker. 
The Taiwan stock market experienced its worst one-day decline in history on Monday, plunging 8.4% as fears over the U.S. economy and the broader tech sector sparked a massive sell-off. The Taiex, Taiwan's weighted index, shed 1,807.21 points to close at 19,830.88, marking its lowest level since April 23. This dramatic fall was led by a significant drop in technology stocks, particularly Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker. -
Apple Presses Tencent and ByteDance to Close Payment Loopholes Amid Global Scrutiny
Apple Inc. (NASDAQ: AAPL) is intensifying its efforts to enforce its App Store commission policies on major Chinese tech companies Tencent Holdings Ltd. (OTCPK: TCEHY) and ByteDance Ltd. (BDNCE). The tech giant has reportedly pressured both companies to close loopholes in their popular apps that allow users to bypass Apple's 30% commission on in-app purchases. 
Apple Inc. (NASDAQ: AAPL) is intensifying its efforts to enforce its App Store commission policies on major Chinese tech companies Tencent Holdings Ltd. (OTCPK: TCEHY) and ByteDance Ltd. (BDNCE). The tech giant has reportedly pressured both companies to close loopholes in their popular apps that allow users to bypass Apple's 30% commission on in-app purchases. -
Typhoon Gaemi Devastates Central China, Leaving 30 Dead and 35 Missing
The remnants of Typhoon Gaemi have left a trail of destruction in central China's Hunan Province, with the city of Zixing bearing the brunt of the catastrophe. As of Thursday noon, local authorities confirmed that 30 people have died and 35 others remain missing in the wake of typhoon-induced intense rains that lashed the region. 
The remnants of Typhoon Gaemi have left a trail of destruction in central China's Hunan Province, with the city of Zixing bearing the brunt of the catastrophe. As of Thursday noon, local authorities confirmed that 30 people have died and 35 others remain missing in the wake of typhoon-induced intense rains that lashed the region. -
U.S. Navy's Advanced Submarine to Strengthen Pacific Presence Amid Rising Tensions with China
In a strategic move to counter China's growing naval capabilities, the United States is set to enhance its submarine force at a key military hub in the Western Pacific. The Virginia-class submarine USS Minnesota will be relocated from Hawaii to Guam at the beginning of the new fiscal year on October 1, as confirmed by Lt. Cmdr. Rick Moore, spokesperson for the U.S. Pacific Fleet commander's principal adviser on submarine affairs. 
In a strategic move to counter China's growing naval capabilities, the United States is set to enhance its submarine force at a key military hub in the Western Pacific. The Virginia-class submarine USS Minnesota will be relocated from Hawaii to Guam at the beginning of the new fiscal year on October 1, as confirmed by Lt. Cmdr. Rick Moore, spokesperson for the U.S. Pacific Fleet commander's principal adviser on submarine affairs. -
Record Number of Chinese Migrants Cross U.S.-Mexico Border Amid Rising Concerns
In a significant shift in migration patterns, over 55,000 Chinese migrants have illegally crossed the U.S.-Mexico border in the past 18 months, a sharp increase from the 3,813 reported in 2022. This unprecedented influx has raised alarms among U.S. authorities about a potential larger wave, considering China's vast population and the challenges of deporting these migrants. 
In a significant shift in migration patterns, over 55,000 Chinese migrants have illegally crossed the U.S.-Mexico border in the past 18 months, a sharp increase from the 3,813 reported in 2022. This unprecedented influx has raised alarms among U.S. authorities about a potential larger wave, considering China's vast population and the challenges of deporting these migrants. -
U.S. Plans New Rule on Foreign Chip Equipment Exports to China, Exempting Key Allies
The Biden administration is poised to introduce a new rule next month aimed at expanding U.S. powers to restrict semiconductor manufacturing equipment exports to China. However, key allies such as Japan, the Netherlands, and South Korea will be exempt from these restrictions, sources familiar with the matter revealed. 
The Biden administration is poised to introduce a new rule next month aimed at expanding U.S. powers to restrict semiconductor manufacturing equipment exports to China. However, key allies such as Japan, the Netherlands, and South Korea will be exempt from these restrictions, sources familiar with the matter revealed. -
Italy's Meloni and China's Xi Discuss Global Tensions, Pledge to Bolster Economic Cooperation
Italian Prime Minister Giorgia Meloni and Chinese President Xi Jinping convened in Beijing on Monday to address pressing international issues, including the war in Ukraine and the escalating crisis in the Middle East. The meeting, held at Beijing's Diaoyutai State Guesthouse, underscored the importance of China as a strategic partner for Italy, particularly as the nation grapples with rising global insecurity. 
Italian Prime Minister Giorgia Meloni and Chinese President Xi Jinping convened in Beijing on Monday to address pressing international issues, including the war in Ukraine and the escalating crisis in the Middle East. The meeting, held at Beijing's Diaoyutai State Guesthouse, underscored the importance of China as a strategic partner for Italy, particularly as the nation grapples with rising global insecurity. -
Kim Jong Un’s Daughter Groomed for Leadership Amid Health Concerns
North Korean leader Kim Jong Un's daughter, Ju Ae, is reportedly being groomed to succeed him, according to South Korea's National Intelligence Service (NIS). The news, revealed during a briefing to South Korean lawmakers, highlights the strategic importance of succession planning in one of the world's most secretive regimes. However, the NIS also cautioned that the selection is not final, and Kim could ultimately choose another successor. 
North Korean leader Kim Jong Un's daughter, Ju Ae, is reportedly being groomed to succeed him, according to South Korea's National Intelligence Service (NIS). The news, revealed during a briefing to South Korean lawmakers, highlights the strategic importance of succession planning in one of the world's most secretive regimes. However, the NIS also cautioned that the selection is not final, and Kim could ultimately choose another successor. -
Erdogan Threatens Military Intervention in Israel Amid Escalating Tensions Over Gaza
President Tayyip Erdogan has signaled that Turkey might intervene in Israel to support Palestinians, drawing parallels to Turkish military actions in Libya and Nagorno-Karabakh. Speaking at a meeting of his ruling AK Party in Rize, Erdogan condemned Israel's offensive in Gaza and suggested that Turkey could take similar steps as it did in previous conflicts. 
President Tayyip Erdogan has signaled that Turkey might intervene in Israel to support Palestinians, drawing parallels to Turkish military actions in Libya and Nagorno-Karabakh. Speaking at a meeting of his ruling AK Party in Rize, Erdogan condemned Israel's offensive in Gaza and suggested that Turkey could take similar steps as it did in previous conflicts. -
Soaring Prices Slash China's Gold Jewelry Sales by 26% in H1 2023
On July 28, the China Gold Association reported that China's gold consumption for the first half of the year totaled 523.753 tons, marking a 5.61% year-over-year decline. Gold jewelry consumption fell by 26.68% compared to the same period last year, while consumption of gold bars and coins surged by 46.02%. According to media estimates, this data implies that second-quarter gold jewelry purchases plummeted by 52%. 
On July 28, the China Gold Association reported that China's gold consumption for the first half of the year totaled 523.753 tons, marking a 5.61% year-over-year decline. Gold jewelry consumption fell by 26.68% compared to the same period last year, while consumption of gold bars and coins surged by 46.02%. According to media estimates, this data implies that second-quarter gold jewelry purchases plummeted by 52%.
