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Weijing Group Chairman Shen Qingjing is accused of leveraging his control to have China Petrochemical Corporation purchase Jinghua City land for NT$3.72 billion at above-market prices, converting public funds into private profits and money laundering. The shell company allegedly concealed approximately NT$2.94 billion in criminal proceeds. Taipei District Prosecutors Office has indicted Shen and others, seeking 26 years imprisonment.
Taiwan's Legislative Yuan passed the Defense Special Act on military procurement yesterday with support from the KMT and TPP caucuses. The legislation sets a total budget ceiling of 780 billion NTD for military purchases, with the first phase capped at 300 billion NTD and the second phase at 480 billion NTD, aimed at strengthening asymmetric warfare capabilities.
U.S. President Trump announced that Russia and Ukraine will implement a three-day ceasefire beginning May 9. Trump expressed hope that this measure could serve as the beginning of a long-term agreement to end the Russia-Ukraine war. Russia had previously announced it would implement a ceasefire on May 9, marking World War II Victory Day.
Following military clashes between the US and Iran near the Strait of Hormuz, commercial shipping traffic has nearly halted since Tuesday. Iran attacked US military vessels, prompting US retaliatory strikes on Iranian military facilities. The disruption raises concerns about global crude oil supply chains. President Trump warned of further military action if Iran rejects US ceasefire conditions.
US President Trump will visit China on the 14th and 15th for a meeting with Chinese President Xi Jinping. Markets expect the talks to focus on Iran and Taiwan issues, which may limit negotiating space on tariffs and rare earth disputes between the two countries.
🏛 Politics
Weijing Group Chairman Shen Qingjing is accused of leveraging his control to have China Petrochemical Corporation purchase Jinghua City land for NT$3.72 billion at above-market prices, converting public funds into private profits and money laundering. The shell company allegedly concealed approximately NT$2.94 billion in criminal proceeds. Taipei District Prosecutors Office has indicted Shen and others, seeking 26 years imprisonment.
Taiwan's Legislative Yuan passed the Defense Special Act on military procurement yesterday with support from the KMT and TPP caucuses. The legislation sets a total budget ceiling of 780 billion NTD for military purchases, with the first phase capped at 300 billion NTD and the second phase at 480 billion NTD, aimed at strengthening asymmetric warfare capabilities.
Major medical aesthetics chain Aileili faces allegations of installing hidden cameras in treatment rooms, secretly recording patients without consent. Health Minister Shi Chongliangcriticized the incident as intentional criminal conduct, not accidental oversight, and called for immediate investigation and potential business suspension. The company also faces separate allegations of illegally collecting advance medical fees.
Taiwan's Legislative Yuan passed amendments to the Medical Care Act yesterday, establishing three-shift nurse-to-patient ratios as law. Healthcare facilities violating the regulation face fines per violation, with suspension of operations for one month to one year for those failing to comply within one year. The Ministry of Health and Welfare recommends May 1, 2028 as the implementation date to avoid winter patient surges, Lunar New Year holidays, and post-holiday staff turnover.
U.S. President Trump announced a three-day ceasefire between Russia and Ukraine from May 9-11, during which both sides will suspend military operations and exchange 1,000 prisoners of war each. Trump stated he personally proposed the arrangement and noted the timing coincides with Victory Day commemorations, holding special symbolic significance for both nations involved in World War II. The ceasefire represents a new diplomatic development in the conflict lasting over four years.
U.S. President Trump announced that Russia and Ukraine will implement a three-day ceasefire beginning May 9. Trump expressed hope that this measure could serve as the beginning of a long-term agreement to end the Russia-Ukraine war. Russia had previously announced it would implement a ceasefire on May 9, marking World War II Victory Day.
Renewed conflict between the United States and Iran in the Strait of Hormuz has dampened investor hopes for Middle East de-escalation and reopening of this critical shipping corridor. As a vital global energy transport route, the escalation has driven international oil prices higher, causing European stock markets to close lower amid heightened geopolitical risk concerns.
Following military clashes between the US and Iran near the Strait of Hormuz, commercial shipping traffic has nearly halted since Tuesday. Iran attacked US military vessels, prompting US retaliatory strikes on Iranian military facilities. The disruption raises concerns about global crude oil supply chains. President Trump warned of further military action if Iran rejects US ceasefire conditions.
US President Trump will visit China on the 14th and 15th for a meeting with Chinese President Xi Jinping. Markets expect the talks to focus on Iran and Taiwan issues, which may limit negotiating space on tariffs and rare earth disputes between the two countries.
US President Trump is scheduled to visit mainland China on the 14th and 15th of next week. The Trump administration is inviting approximately 12 major corporate CEOs, including those from NVIDIA, Apple, ExxonMobil, and Boeing, to accompany the delegation. The move has drawn attention to potential major business agreements that may be announced.
💰 Finance
According to South Korean media reports, SanDisk has emerged as the standout performer on Nasdaq with a 430% stock price surge this year, outpacing major tech stocks like Nvidia. As of early trading on May 8, SanDisk reached new highs, attracting significant investor attention.
Boosted by gains in AI-related stocks including Nvidia and Intel, plus better-than-expected US employment data, US markets rallied Friday. The S&P 500 rose 0.84% and Nasdaq climbed 1.71%, both reaching new highs, while the Dow Jones Industrial Average gained 12.19 points. The Philadelphia Semiconductor Index surged over 5.5%, though TSMC ADR declined.
The US added 115,000 jobs in April, more than double the expected 50,000, boosting stock market sentiment. Despite Middle East tensions, the S&P 500 and Nasdaq indices both reached all-time highs, reflecting investor optimism about the US economic outlook.
US stocks reached new highs Friday as the Nasdaq and S&P 500 both closed at record levels. Intel surged over 13%, leading semiconductor gains with the iShares Semiconductor ETF rising 5.7%. The Nasdaq gained 4.5% for the week while the S&P 500 rose 2.3%, marking their sixth consecutive weekly gain and longest streak since 2024. Strong US employment data and continued AI momentum drove market optimism.
The US dollar weakened on Friday, with the ICE Dollar Index (DXY) falling 0.4% to 97.877, marking the second consecutive weekly decline. Despite ongoing US-Iran tensions, the US indicated Iran is expected to respond to a proposal to end Persian Gulf conflict by Friday at the earliest. President Trump confirmed ceasefire remains in effect, prompting cautious optimism among investors regarding a swift resolution to Middle East tensions.
Wall Street traders have popularized the "NACHO" concept (Not A Chance Hormuz Opens), reflecting lost confidence in near-term strait reopening. Investors now view strait closure and elevated oil prices as normalized macroeconomic features rather than temporary geopolitical impacts. Brent crude has retreated from April's $126 per barrel peak but remains above $100, up over 38% from pre-escalation levels, reshaping pricing across oil, shipping insurance, and interest rate markets.
AI infrastructure provider CoreWeave reported Q3 revenue growth of 111.9% year-over-year to $2.08 billion, exceeding expectations, but net losses expanded to $740 million. The company guided Q4 revenue of $2.45-2.6 billion and adjusted operating income of $30-90 million, both below market expectations. Rising component costs increased full-year capital expenditure guidance to $31 billion. However, backlog reached a record $99.4 billion.
The United States added 115,000 nonfarm jobs in April, significantly surpassing forecasts and marking the first consecutive two-month employment gain in a year. The unemployment rate remained steady. Economists believe the stable job market indicates the Federal Reserve has no urgent need to adjust interest rates in the near term, suggesting a potential delay in rate cuts.
💻 Technology
According to the Wall Street Journal, Apple and Intel have reached a preliminary agreement for Intel to produce chips for Apple devices. This marks a significant shift in Apple's chip supplier strategy, with Intel joining existing partners in Apple's chip manufacturing plans. Further details of the agreement remain under negotiation between the two companies.
NVIDIA, the US AI chip leader, announced an investment of up to $2.1 billion in data center developer IREN to expand its AI ecosystem and accelerate AI infrastructure development. The announcement boosted IREN's stock price by over 8% in early US trading on the 8th, reflecting positive market sentiment toward the investment.
Nintendo announced on the 8th that it will raise the global price of its Switch 2 gaming console starting September 1st. The US price will increase from $450 to $500, representing an approximately 11% increase. Nintendo acknowledged that Switch 2 profitability faces pressure this fiscal year, with the price adjustment aimed at addressing cost challenges.
As global memory chip demand increases, major technology companies are actively proposing investments in SK Hynix's new production lines and offering financial support for expensive manufacturing equipment to secure stable chip supplies.
According to Goldman Sachs research, AI is shifting from chat mode to agent mode, driving increased global token consumption. As token computing costs decline, hyperscale cloud service providers' substantial capital expenditures are expected to reach a profitability inflection point in the first half of 2026, benefiting cloud operators' financial performance.
🌏 International
Weijing Group Chairman Shen Qingjing is accused of leveraging his control to have China Petrochemical Corporation purchase Jinghua City land for NT$3.72 billion at above-market prices, converting public funds into private profits and money laundering. The shell company allegedly concealed approximately NT$2.94 billion in criminal proceeds. Taipei District Prosecutors Office has indicted Shen and others, seeking 26 years imprisonment.
Taiwan's Legislative Yuan passed the Defense Special Act on military procurement yesterday with support from the KMT and TPP caucuses. The legislation sets a total budget ceiling of 780 billion NTD for military purchases, with the first phase capped at 300 billion NTD and the second phase at 480 billion NTD, aimed at strengthening asymmetric warfare capabilities.
Taiwan's Legislative Yuan passed the "Special Act for National Security Protection and Asymmetric Warfare Enhancement Plan Procurement" in third reading yesterday. The total budget is capped at 780 billion yuan, allocated in two batches. The legislation mandates that budget allocations cannot be reallocated without Legislative Yuan approval and establishes an annual review mechanism for oversight. The special act will remain in effect until the end of 2033.
U.S. President Trump announced that Russia and Ukraine will implement a three-day ceasefire beginning May 9. Trump expressed hope that this measure could serve as the beginning of a long-term agreement to end the Russia-Ukraine war. Russia had previously announced it would implement a ceasefire on May 9, marking World War II Victory Day.
US President Trump will visit China on the 14th and 15th for a meeting with Chinese President Xi Jinping. Markets expect the talks to focus on Iran and Taiwan issues, which may limit negotiating space on tariffs and rare earth disputes between the two countries.
U.S. President Trump announced a three-day ceasefire between Russia and Ukraine from May 9-11, during which both sides will suspend military operations and exchange 1,000 prisoners of war each. Trump stated he personally proposed the arrangement and noted the timing coincides with Victory Day commemorations, holding special symbolic significance for both nations involved in World War II. The ceasefire represents a new diplomatic development in the conflict lasting over four years.
Following military clashes between the US and Iran near the Strait of Hormuz, commercial shipping traffic has nearly halted since Tuesday. Iran attacked US military vessels, prompting US retaliatory strikes on Iranian military facilities. The disruption raises concerns about global crude oil supply chains. President Trump warned of further military action if Iran rejects US ceasefire conditions.
Former U.S. President Trump announced that Russia and Ukraine have agreed to a three-day ceasefire and prisoner swap. However, skepticism remains about whether Russian President Putin is willing to commit to a more lasting peace agreement. The announcement has sparked widespread discussion regarding the authenticity and sustainability of the negotiations.
Turkey has unveiled the Yıldırımhan intercontinental ballistic missile, claiming it can strike targets on the US mainland. A promotional AI-generated video demonstrated the missile's purported ability to hit American nuclear facilities. However, experts question whether the missile's actual range matches the government's claims about its capabilities.
US President Trump announced on the 8th that Russia and Ukraine have agreed to a three-day ceasefire from May 9-11 based on America's proposal. Both nations have accepted the US proposal, with the actual implementation of the ceasefire remaining the key focus.
A bus accident on Japan's Banetsudo expressway in Fukushima Prefecture killed and injured 21 people, including high school students from Niigata. The bus operator told investigators it had previously arranged rental buses multiple times at the school's request, though the school denies requesting rental vehicles. The accident cause remains under investigation.
U.S. President Trump will visit China on May 14-15 for a summit meeting with Chinese President Xi Jinping. This marks their first in-person meeting since October last year. The talks are expected to cover economic and trade relations, Taiwan-related issues, and the Iran situation.
US President Donald Trump announced Friday that Russia and Ukraine have agreed to a three-day ceasefire (May 9-11) and prisoner exchange following US-mediated negotiations. Trump stated that talks to end the war are continuing and both sides are getting closer to a resolution. The ceasefire coincides with Russia's Victory Day celebrations.
Major medical aesthetics chain Aileili faces allegations of installing hidden cameras in treatment rooms, secretly recording patients without consent. Health Minister Shi Chongliangcriticized the incident as intentional criminal conduct, not accidental oversight, and called for immediate investigation and potential business suspension. The company also faces separate allegations of illegally collecting advance medical fees.
According to the Wall Street Journal, Apple and Intel have reached a preliminary agreement for Intel to produce chips for Apple devices. This marks a significant shift in Apple's chip supplier strategy, with Intel joining existing partners in Apple's chip manufacturing plans. Further details of the agreement remain under negotiation between the two companies.