🔥 Top Stories
Prosecutors and police are investigating the "AnXin Coin" fraud case and discovered police officials allegedly intervened on behalf of the fraud ring. They privately contacted investigating officers to arrange meetings and discourage further investigation. The Taipei District Prosecutors Office conducted searches at 28 locations including the Criminal Investigation Bureau and Taipei/New Taipei police divisions, questioning 8 officials and 4 suspects, including officer Li Jinlong who was previously commended by New Taipei Mayor Hou Youyi.
President Lai Ching-te presided over the joint graduation ceremony of the Republic of China's three military academies and eight schools yesterday. He encouraged graduates to establish clear awareness of national security threats, including Chinese infiltration, division, sabotage, and espionage activities. Lai emphasized the importance of upholding democratic values, maintaining the independence of the Republic of China, and resisting external threats to safeguard national sovereignty and security.
US Army Pacific Commander General Clark stated that Operation Pathways, designed to test joint combat capabilities of US forces in the Indo-Pacific region, has the core objective of deterring Chinese military action against Taiwan. South Korean media suggests this indicates that US forces stationed throughout the Indo-Pacific, including those in South Korea, have become key elements in America's strategy to counter Chinese military operations.
The Legislative Yuan passed the Virtual Asset Services Act on third reading, requiring virtual asset service providers to obtain Financial Supervisory Commission approval before operating and establishing stablecoin issuance regulations. Those involved in virtual asset fraud or market manipulation face 3 to 10 years imprisonment and fines between NT$10 million and NT$200 million.
The US Supreme Court issued a series of rulings on June 29. One decision expanded presidential powers, delivering a major victory for Trump. However, another ruling explicitly protected the Federal Reserve's independence, stipulating that Fed officials cannot be arbitrarily removed to preserve the central bank's independent operations.
🏛 Politics
Prosecutors and police are investigating the "AnXin Coin" fraud case and discovered police officials allegedly intervened on behalf of the fraud ring. They privately contacted investigating officers to arrange meetings and discourage further investigation. The Taipei District Prosecutors Office conducted searches at 28 locations including the Criminal Investigation Bureau and Taipei/New Taipei police divisions, questioning 8 officials and 4 suspects, including officer Li Jinlong who was previously commended by New Taipei Mayor Hou Youyi.
President Lai Ching-te presided over the joint graduation ceremony of the Republic of China's three military academies and eight schools yesterday. He encouraged graduates to establish clear awareness of national security threats, including Chinese infiltration, division, sabotage, and espionage activities. Lai emphasized the importance of upholding democratic values, maintaining the independence of the Republic of China, and resisting external threats to safeguard national sovereignty and security.
US Army Pacific Commander General Clark stated that Operation Pathways, designed to test joint combat capabilities of US forces in the Indo-Pacific region, has the core objective of deterring Chinese military action against Taiwan. South Korean media suggests this indicates that US forces stationed throughout the Indo-Pacific, including those in South Korea, have become key elements in America's strategy to counter Chinese military operations.
China's "Law on Promoting Ethnic Unity and Progress" took effect on July 1, coinciding with Hong Kong's 29th anniversary of sovereignty transfer. Cross-strait officials warn the law functions as a compulsory mandate, eliminating previous freedom of non-alignment. Taiwanese and Hong Kong residents in Taiwan who reject unification or support maintaining the status quo may face criminal prosecution under Chinese law, raising concerns about cross-strait relations.
A U.S. citizen teacher at Taipei American School and a Taiwanese woman jointly ordered 500 milliliters of liquid ketamine from European drug dealers in March, disguising it as gin in bottles shipped via air cargo from Germany to Taiwan. German customs discovered and confirmed the substance as narcotics, notifying Taiwanese authorities. Police arrested the American teacher at the airport on April 27. He was detained without bail, and prosecutors concluded the case under charges of attempted transportation of Schedule III controlled substances.
China's "Law on Promoting Ethnic Unity and Progress" set to take effect July 1 has raised concerns due to extraterritorial application clauses. Four cross-party Japanese parliamentary groups held a press conference on June 30, criticizing the law for accelerating policies that deny linguistic, educational, traditional, and religious diversity, arguing it contradicts democratic values.
Independent candidate Wen Zhi-qiang, former chief of Sanwan Township in Miaoli County, was convicted of bribery and involvement in over 100 engineering and personnel cases during his tenure. Initially sentenced to 499 years and 2 months by Miaoli District Court last August, both Wen and the Miaoli Prosecutors' Office appealed. During the second trial hearing, Wen failed to appear and was discovered to have fled to Hong Kong. He was listed as a fugitive by the Investigation Bureau, his bail of NT$1 million was forfeited, and the Taichung High Branch Court increased his sentence to 576 years and 7 months.
The opposition parties in the Legislative Yuan proposed bills for unmanned vehicle development and procurement using annual budgets, opposing the Executive Yuan's special budget approach. The Executive Yuan warned that annual budget allocation could squeeze social welfare and education spending while potentially delaying drone development timelines. The two sides disagree significantly on budget allocation methods.
The US Supreme Court ruled today to uphold the birthright citizenship principle enshrined in the Fourteenth Amendment, rejecting President Trump's executive order to restrict this right. The decision affirms that individuals born on US soil automatically gain American citizenship regardless of their parents' immigration status. Immigration advocacy groups welcomed the ruling, stating it brings hope to immigrant families and protects the rights of millions.
The US Supreme Court issued a series of rulings on June 29. One decision expanded presidential powers, delivering a major victory for Trump. However, another ruling explicitly protected the Federal Reserve's independence, stipulating that Fed officials cannot be arbitrarily removed to preserve the central bank's independent operations.
💰 Finance
US stock markets closed higher today, buoyed by optimistic sentiment surrounding artificial intelligence. The Nasdaq Composite gained 21.4% in the second quarter, marking its best quarterly performance in six years. Market optimism over AI prospects outweighed concerns about geopolitical risks and rising inflation, propelling equities higher.
US stock markets closed higher on June 30, with the Dow Jones Index reaching a new all-time high. The S&P 500 and Nasdaq Composite posted their best quarterly performance since 2020, gaining 9.6% and over 10% respectively in Q2. Chip stocks led the rally, with NVIDIA up 2.6%, AMD surging 7.7%, and Intel rising 6%. Investor optimism about economic growth and corporate earnings, combined with easing Middle East tensions and fading AI investment concerns, supported market gains.
The Legislative Yuan passed the Virtual Asset Services Act on third reading, requiring virtual asset service providers to obtain Financial Supervisory Commission approval before operating and establishing stablecoin issuance regulations. Those involved in virtual asset fraud or market manipulation face 3 to 10 years imprisonment and fines between NT$10 million and NT$200 million.
Rising vessel traffic through the Strait of Hormuz is putting downward pressure on international oil prices. Market expectations for a permanent peace agreement between the United States and Iran have boosted shipping activity through the critical waterway. The increase in transit volume reflects optimism about improved geopolitical conditions and contributes to lower crude oil valuations.
The EU announced on June 30 that starting July 1, it will reduce the duty-free steel import quota by 47% to approximately 18.3 million tonnes annually. Tariff rates for 26 steel products exceeding the quota will double to 50% to protect the region's struggling steel industry. The measure has heightened trade tensions with partners including China.
The EU implemented new steel import measures on July 1, raising tariffs on steel exceeding quotas from 0% to 50%. Taiwan negotiated an annual duty-free quota of 670,000 tons, a nearly 40% increase from current levels, covering nine categories of steel products. This helps local manufacturers adapt to the new EU policy.
International gold prices continued to weaken in the second quarter, declining nearly 14% and marking the first quarterly decline of 2024. The drop may represent the largest single-quarter decline since Q2 2013. Spot gold prices hovered around $4,000 per troy ounce on June 30, with June alone seeing approximately 12% decline and four consecutive months of losses, reflecting weakening market sentiment.
Recent surveys indicate that international financial institutions plan to expand operations in the Asia-Pacific market, with increased interest in South Korea and Taiwan, while adopting a more cautious stance toward mainland China and India. JPMorgan Chase's global research division expects artificial intelligence capital expenditure momentum to continue in the second half, with Taiwan and South Korean stock markets maintaining their leadership in emerging markets.
The Japanese yen weakened past 162 per US dollar on June 30 intraday trading, marking the first time in 40 years. The currency's continued depreciation has intensified market expectations of potential intervention by Japanese authorities in the foreign exchange market to stabilize the yen.
The Official Monetary and Financial Institutions Forum (OMFIF) in London released a survey showing that as dollar-related risks rise, the number of central banks planning to reduce dollar allocations over the next decade has exceeded those planning to increase holdings for the first time in history. Additionally, the proportion of public funds planning to increase exposure to emerging economies is higher than last year, reflecting a significant shift in global central bank asset allocation strategies.
🌏 International
Prosecutors and police are investigating the "AnXin Coin" fraud case and discovered police officials allegedly intervened on behalf of the fraud ring. They privately contacted investigating officers to arrange meetings and discourage further investigation. The Taipei District Prosecutors Office conducted searches at 28 locations including the Criminal Investigation Bureau and Taipei/New Taipei police divisions, questioning 8 officials and 4 suspects, including officer Li Jinlong who was previously commended by New Taipei Mayor Hou Youyi.
The U.S. Supreme Court ruled on the 30th against President Trump's executive order attempting to modify birthright citizenship. The court upheld existing law, confirming that children born in the United States automatically acquire U.S. citizenship at birth, regardless of their parents' immigration status.
The Trump administration is expected to formally announce on Wednesday that it will not extend the US-Mexico-Canada Agreement, initiating a ten-year countdown to wind down the 32-year-old North American free-trade zone. This declaration will trigger a six-year review period, part of a sunset clause negotiated during Trump's first term. The three countries will negotiate proposed changes during this period, though the announcement is unlikely to significantly alter contentious negotiations over the trade pact.
A roof collapse at a tutoring centre under construction in Lahore, Pakistan's eastern city, killed at least 14 schoolchildren on Tuesday. Eight other children were injured and hospitalized. Senior police official Faisal Kamran reported that the tutoring centre owner and another person have been arrested. Rescue teams continue searching through rubble as reports suggest more children may be trapped.
President Lai Ching-te presided over the joint graduation ceremony of the Republic of China's three military academies and eight schools yesterday. He encouraged graduates to establish clear awareness of national security threats, including Chinese infiltration, division, sabotage, and espionage activities. Lai emphasized the importance of upholding democratic values, maintaining the independence of the Republic of China, and resisting external threats to safeguard national sovereignty and security.
US Army Pacific Commander General Clark stated that Operation Pathways, designed to test joint combat capabilities of US forces in the Indo-Pacific region, has the core objective of deterring Chinese military action against Taiwan. South Korean media suggests this indicates that US forces stationed throughout the Indo-Pacific, including those in South Korea, have become key elements in America's strategy to counter Chinese military operations.
The Legislative Yuan passed the Virtual Asset Services Act on third reading, requiring virtual asset service providers to obtain Financial Supervisory Commission approval before operating and establishing stablecoin issuance regulations. Those involved in virtual asset fraud or market manipulation face 3 to 10 years imprisonment and fines between NT$10 million and NT$200 million.
The US Supreme Court issued a series of rulings on June 29. One decision expanded presidential powers, delivering a major victory for Trump. However, another ruling explicitly protected the Federal Reserve's independence, stipulating that Fed officials cannot be arbitrarily removed to preserve the central bank's independent operations.
The Japanese yen weakened past 162 per US dollar on June 30 intraday trading, marking the first time in 40 years. The currency's continued depreciation has intensified market expectations of potential intervention by Japanese authorities in the foreign exchange market to stabilize the yen.
The US Supreme Court has rejected the Trump administration's application to eliminate birthright citizenship, dealing a significant blow to the president's immigration agenda. Birthright citizenship refers to the constitutional provision granting automatic US citizenship to individuals born on American soil. The ruling upholds the current legal framework and reflects the Court's established interpretation of the Fourteenth Amendment.
US stock markets closed higher today, buoyed by optimistic sentiment surrounding artificial intelligence. The Nasdaq Composite gained 21.4% in the second quarter, marking its best quarterly performance in six years. Market optimism over AI prospects outweighed concerns about geopolitical risks and rising inflation, propelling equities higher.
China's "Law on Promoting Ethnic Unity and Progress" took effect on July 1, coinciding with Hong Kong's 29th anniversary of sovereignty transfer. Cross-strait officials warn the law functions as a compulsory mandate, eliminating previous freedom of non-alignment. Taiwanese and Hong Kong residents in Taiwan who reject unification or support maintaining the status quo may face criminal prosecution under Chinese law, raising concerns about cross-strait relations.
A U.S. citizen teacher at Taipei American School and a Taiwanese woman jointly ordered 500 milliliters of liquid ketamine from European drug dealers in March, disguising it as gin in bottles shipped via air cargo from Germany to Taiwan. German customs discovered and confirmed the substance as narcotics, notifying Taiwanese authorities. Police arrested the American teacher at the airport on April 27. He was detained without bail, and prosecutors concluded the case under charges of attempted transportation of Schedule III controlled substances.
In the 2026 World Cup Round of 32, Brazil defeated Japan 2-1 with a 95th-minute goal by substitute Martinelli, marking the latest knockout-stage winner in tournament history. Paraguay eliminated Germany and Morocco defeated Netherlands in penalty shootouts. The three teams join host Canada in advancing to the Round of 16.
China's "Law on Promoting Ethnic Unity and Progress" set to take effect July 1 has raised concerns due to extraterritorial application clauses. Four cross-party Japanese parliamentary groups held a press conference on June 30, criticizing the law for accelerating policies that deny linguistic, educational, traditional, and religious diversity, arguing it contradicts democratic values.