🔥 Top Stories
Chung Lien Oil's soybean salad oil tested positive for benzo(a)pyrene, a Class 1 carcinogen, at levels exceeding safety standards, triggering a major food safety crisis. Taiwan's Taichung District Prosecutors Office conducted large-scale searches of four oil companies including Chung Lien, Fukujoy, Fuhmor, and Taishan, resulting in eleven people being charged as defendants, including executives from all four firms. Chung Lien's general manager Yu Ling-chung requested detention, while the four oil company chairmen posted bail ranging from NT$2 million to NT$20 million.
Typhoon Bavi has forced Taoyuan International Airport to cancel all 760 flights today, affecting both domestic and international carriers. The Transportation Ministry's Maritime and Port Bureau announced the suspension of 13 airline routes totaling 116 flights. Gold Mountain's cross-strait shuttle services on the Kinmen-Xiamen and Kinmen-Quanzhou routes remain suspended. The airport expects to gradually resume operations from 4 AM on the 12th, weather permitting.
A woman surnamed Zhou was caught drug-driving in Changhua and initially released without bail by a judge. After her urine test confirmed methamphetamine use, the Taichung High Court revoked the original ruling on the 8th of this month and remanded the case to Changhua District Court for reconsideration. However, more than one month has passed without a new ruling. Prosecutors expressed concern about the delayed proceedings.
The Philippines commemorated the tenth anniversary of the South China Sea arbitration ruling on the 10th, emphasizing that the arbitration result serves as a permanent cornerstone of rules-based international order. The country reaffirmed its sovereignty over the Batanes Islands after a Chinese scholar claimed the archipelago belongs to China, which the Philippines dismissed as absurd. Manila called on like-minded nations to jointly defend South China Sea order and freedom of navigation.
South Korean memory chipmaker SK Hynix successfully completed its American Depositary Receipt (ADR) offering in the United States, raising $26.5 billion. The transaction marks the largest IPO by a foreign company in the US market, demonstrating strong investor confidence despite significant market volatility at the time of the offering.
🏛 Politics
Chung Lien Oil's soybean salad oil tested positive for benzo(a)pyrene, a Class 1 carcinogen, at levels exceeding safety standards, triggering a major food safety crisis. Taiwan's Taichung District Prosecutors Office conducted large-scale searches of four oil companies including Chung Lien, Fukujoy, Fuhmor, and Taishan, resulting in eleven people being charged as defendants, including executives from all four firms. Chung Lien's general manager Yu Ling-chung requested detention, while the four oil company chairmen posted bail ranging from NT$2 million to NT$20 million.
Typhoon Bavi has forced Taoyuan International Airport to cancel all 760 flights today, affecting both domestic and international carriers. The Transportation Ministry's Maritime and Port Bureau announced the suspension of 13 airline routes totaling 116 flights. Gold Mountain's cross-strait shuttle services on the Kinmen-Xiamen and Kinmen-Quanzhou routes remain suspended. The airport expects to gradually resume operations from 4 AM on the 12th, weather permitting.
A woman surnamed Zhou was caught drug-driving in Changhua and initially released without bail by a judge. After her urine test confirmed methamphetamine use, the Taichung High Court revoked the original ruling on the 8th of this month and remanded the case to Changhua District Court for reconsideration. However, more than one month has passed without a new ruling. Prosecutors expressed concern about the delayed proceedings.
The Philippines commemorated the tenth anniversary of the South China Sea arbitration ruling on the 10th, emphasizing that the arbitration result serves as a permanent cornerstone of rules-based international order. The country reaffirmed its sovereignty over the Batanes Islands after a Chinese scholar claimed the archipelago belongs to China, which the Philippines dismissed as absurd. Manila called on like-minded nations to jointly defend South China Sea order and freedom of navigation.
Chu Song-wei, former director of Taoyuan's Economic Development Bureau, was convicted of extorting bribes through public construction projects and procurement opportunities. The High Court sentenced him to 10 years and 4 months under the Anti-Corruption Act. After the Supreme Court rejected his appeal, the case became final and Chu must serve his sentence.
Changhua County has experienced at least five fatal traffic accidents caused by drug-impaired driving over the past three years, resulting in ten deaths and numerous injuries. A senior prosecutor noted that Changhua has a large drug-using population, and with widespread vehicle use, easy access to drugs like methamphetamine has kept drug-driving incidents high. The Changhua District Court is implementing enforcement measures to address the issue.
The KMT and TPP are pushing referendums on nuclear power restart and euthanasia respectively. Originally scheduled for submission yesterday, the proposals were delayed to next Tuesday's legislative session due to typhoon. TPP caucus whip Chen Ching-lung stated that citizens should have the right to express their views on these issues.
Moderate Typhoon Bawei continues approaching Taiwan with its storm circle expected to reach land by early morning. The Central Weather Administration estimates low landing probability, but the typhoon's wind radius spans approximately 380 kilometers, covering northern, central, and eastern regions. Northern counties including New Taipei, Taoyuan, Hsinchu, Miaoli, and Taichung face potential extreme rainfall. Eighteen counties, Penghu, and Lienchiang have announced class and work suspensions.
Taiwan's Investigation Bureau's Anti-Money Laundering Division assisted the Taipei District Prosecutors Office in investigating the Prince Group case, seizing substantial illegal proceeds and prosecuting multiple individuals. The case won the Egmont Group's 2026 Best Practices Award at the annual meeting held in Azerbaijan, receiving 76 votes out of 106 from representatives of 130 financial intelligence centers and 15 international organizations including FATF and World Bank.
Egypt and Qatar's foreign ministers jointly called for the United States and Iran to resume negotiations today. Simultaneously, US President Trump announced that the ceasefire between the US and Iran has ended. This reflects the complexity of Middle East dynamics, with some nations promoting diplomatic dialogue while the US president declares the cessation of ceasefire arrangements.
💰 Finance
US stocks closed higher on Friday as South Korean memory chipmaker SK Hynix delivered a strong debut on US exchanges, rising 12.7% to $168 per share. The company raised over $26 billion through American Depositary Receipts at $149 per share. Tech giants Nvidia gained 4% and Meta surged nearly 6%, driving the S&P 500 index closer to its all-time high as investors await the second quarter earnings season.
South Korean chipmaker SK Hynix made its Wall Street debut today with stock price surging 13%. As a major supplier of advanced memory chips to AI leader Nvidia, SK Hynix benefited from the artificial intelligence boom, with strong stock performance contributing to broader US market gains.
Escalating tensions in the Middle East continued to pressure market sentiment, causing European stock markets to trade mixed today. The performance ended a four-week winning streak for European equities. Geopolitical risks dampened investor confidence, prompting cautious positioning across global financial markets.
Japan's Finance Minister Katayama Kōgetsu announced on the 10th that the government will explore ways to encourage pension funds, including the Government Pension Investment Fund (GPIF), to increase investments in domestic financial assets to reduce downward pressure on the yen. The announcement boosted the yen exchange rate and Japanese long-term bond prices. Strategists believe the policy will benefit domestic assets, though opinions differ on its long-term impact on the yen.
Federal Reserve Chair Powell announced the leadership of five reform task groups, bringing together prominent figures from academia, government, and industry, including 2011 Nobel Prize in Economics laureate Thomas Sargent, former Bank of England Governor Mervyn King, and former Walmart CEO Doug McMillon, to drive Fed reform initiatives.
John Williams, president of the Federal Reserve Bank of New York, expressed concern about artificial intelligence-driven demand as a key factor in U.S. inflation. Williams warned that if AI-related demand remains robust, the Federal Reserve may need to raise interest rates to control inflationary pressures.
Morgan Stanley's Chief Investment Officer Lisa Shalett cautioned investors to remain cautious about semiconductor stocks. She noted that major cloud providers including Meta, Google, and Amazon are developing proprietary chips to reduce costs and dependency on external suppliers, which could weaken chipmakers' pricing power. Shalett believes market optimism about AI spending has driven semiconductor stocks higher than justified, with growth potentially slowing ahead.
South Korean memory chipmaker SK Hynix successfully completed its American Depositary Receipt (ADR) offering in the United States, raising $26.5 billion. The transaction marks the largest IPO by a foreign company in the US market, demonstrating strong investor confidence despite significant market volatility at the time of the offering.
South Korean memory chip manufacturer SK Hynix officially listed on Nasdaq on the 10th, opening at $170 per share, up approximately 17% from the ADR pricing of $149. The IPO raised $26.5 billion, which will be used for factory expansion and equipment purchases. By market close, the stock gained 17.45% to $175 per share, reflecting strong investor demand for the AI chip giant valued at over $1 trillion.
Hai Chang Biotech (7814) is scheduled to list on the Taiwan exchange on June 15. The company achieved over 200% year-over-year revenue growth in June and received three Class 4 medical device approvals from Thailand's FDA on July 7. The listing day coincides with strong revenue performance and international regulatory approvals.
🎬 Entertainment
France advanced to the 2026 FIFA World Cup semifinals by defeating Morocco 2-0 in the quarterfinals. Mbappé, after missing a penalty in the first half, scored in the 60th minute and assisted Dembélé's goal in the 66th minute. This marks France's third consecutive World Cup semifinal appearance, with their next opponent to be determined by the Spain-Belgium quarterfinal match.
At the 2026 Wimbledon Championships men's singles semi-final, world number one Jannik Sinner defeated 24-time Grand Slam champion Novak Djokovic 6-4, 6-4, 6-4 in straight sets, taking 2 hours and 20 minutes. This marks Sinner's consecutive second appearance in the Wimbledon final, where he will face Zverev in pursuit of defending his championship title.
Taiwanese javelin thrower Chu Pin-hsun claimed gold at the 2026 Asian U23 Athletics Championships with a personal best throw of 57.31 meters, defeating competitors from China and Japan. The victory secured Chinese Taipei's first medal of the competition, showcasing the strength of Taiwan's emerging track and field athletes.
A British Airways flight from Barbados to London was cancelled after multiple crew members were deemed unfit for duty following heavy drinking the previous night. The cancellation left 336 passengers stranded at the destination. British Airways has launched an investigation into the incident to clarify details and review safety management procedures.
🌏 International
Chung Lien Oil's soybean salad oil tested positive for benzo(a)pyrene, a Class 1 carcinogen, at levels exceeding safety standards, triggering a major food safety crisis. Taiwan's Taichung District Prosecutors Office conducted large-scale searches of four oil companies including Chung Lien, Fukujoy, Fuhmor, and Taishan, resulting in eleven people being charged as defendants, including executives from all four firms. Chung Lien's general manager Yu Ling-chung requested detention, while the four oil company chairmen posted bail ranging from NT$2 million to NT$20 million.
Typhoon Bavi has forced Taoyuan International Airport to cancel all 760 flights today, affecting both domestic and international carriers. The Transportation Ministry's Maritime and Port Bureau announced the suspension of 13 airline routes totaling 116 flights. Gold Mountain's cross-strait shuttle services on the Kinmen-Xiamen and Kinmen-Quanzhou routes remain suspended. The airport expects to gradually resume operations from 4 AM on the 12th, weather permitting.
US President Trump indicated willingness to continue negotiations with Iran while hinting at potential military action if circumstances warrant. Iranian Parliament Speaker Ghalibaf emphasized Iran would retaliate if attacked. The outlook for resumed talks remains uncertain as tensions persist between the two nations.
South Korean memory chipmaker SK Hynix successfully completed its American Depositary Receipt (ADR) offering in the United States, raising $26.5 billion. The transaction marks the largest IPO by a foreign company in the US market, demonstrating strong investor confidence despite significant market volatility at the time of the offering.
South Korean memory chip manufacturer SK Hynix completed a $26.5 billion fundraising, marking the largest foreign IPO in US history. This milestone reflects the significant Wall Street moment driven by the AI chip boom. Simultaneously, both SK Hynix and Samsung face pressure from the US government to establish new semiconductor manufacturing facilities domestically, aimed at strengthening domestic chip production capacity.
South Korean memory chipmaker SK Hynix launched on Wall Street Friday at $170 per share, raising $26.5 billion and surpassing Alibaba's record as the largest foreign company IPO. Benefiting from surging AI-driven demand for DRAM and high-bandwidth memory components, SK Hynix briefly became South Korea's most valuable company with a $1 trillion valuation in May.
The United States has sent a delegation to Beirut, Lebanon to help consolidate the ceasefire agreement between Israel and Hezbollah. Lebanon's president is calling for international pressure on Israel to begin withdrawing its forces from Lebanese territory. The initiative aims to ensure stable implementation of the ceasefire and advance the process of Israeli military withdrawal from the region.
US senators and the White House have reached an agreement to tighten sanctions against Russia. The deal comes days after Donald Trump signaled a shift toward increased support for Ukraine. The agreement represents a potential breakthrough in US policy regarding the Ukraine situation and reflects adjustments in the administration's stance.
China has intensified maritime activities in the South China Sea and East China Sea, taking more assertive actions toward the Philippines and Japan. Analysts suggest these moves are closely linked to China's strategic intentions regarding Taiwan, reflecting Beijing's efforts to expand regional influence. The escalation has drawn attention from the United States, Japan, and the Philippines, becoming a significant geopolitical issue in the Asia-Pacific region.
A woman surnamed Zhou was caught drug-driving in Changhua and initially released without bail by a judge. After her urine test confirmed methamphetamine use, the Taichung High Court revoked the original ruling on the 8th of this month and remanded the case to Changhua District Court for reconsideration. However, more than one month has passed without a new ruling. Prosecutors expressed concern about the delayed proceedings.
The Philippines commemorated the tenth anniversary of the South China Sea arbitration ruling on the 10th, emphasizing that the arbitration result serves as a permanent cornerstone of rules-based international order. The country reaffirmed its sovereignty over the Batanes Islands after a Chinese scholar claimed the archipelago belongs to China, which the Philippines dismissed as absurd. Manila called on like-minded nations to jointly defend South China Sea order and freedom of navigation.
Chu Song-wei, former director of Taoyuan's Economic Development Bureau, was convicted of extorting bribes through public construction projects and procurement opportunities. The High Court sentenced him to 10 years and 4 months under the Anti-Corruption Act. After the Supreme Court rejected his appeal, the case became final and Chu must serve his sentence.
Changhua County has experienced at least five fatal traffic accidents caused by drug-impaired driving over the past three years, resulting in ten deaths and numerous injuries. A senior prosecutor noted that Changhua has a large drug-using population, and with widespread vehicle use, easy access to drugs like methamphetamine has kept drug-driving incidents high. The Changhua District Court is implementing enforcement measures to address the issue.
The KMT and TPP are pushing referendums on nuclear power restart and euthanasia respectively. Originally scheduled for submission yesterday, the proposals were delayed to next Tuesday's legislative session due to typhoon. TPP caucus whip Chen Ching-lung stated that citizens should have the right to express their views on these issues.
Moderate Typhoon Bawei continues approaching Taiwan with its storm circle expected to reach land by early morning. The Central Weather Administration estimates low landing probability, but the typhoon's wind radius spans approximately 380 kilometers, covering northern, central, and eastern regions. Northern counties including New Taipei, Taoyuan, Hsinchu, Miaoli, and Taichung face potential extreme rainfall. Eighteen counties, Penghu, and Lienchiang have announced class and work suspensions.