Amazon and Intel reported third-quarter earnings on the 29th that fell short of expectations, intensifying market concerns over heavy AI-related spending. On Friday the 30th, US stocks fell, with the tech-heavy Nasdaq dropping 2.86%, its largest single-day decline since June 5. Intel shares plunged more than 28%, and Taiwan Semiconductor Manufacturing Company's ADR fell nearly 6%.
During a military self-inspection, chips marked "CN" were allegedly found in drones supplied under a military procurement contract awarded to Yatuo Technology, and the military reported the case. Taichung prosecutors found at least two contracts totaling over NT$8 million allegedly used Chinese-made chips. Founder Du Dasen and his wife are suspected in the case. Prosecutors sought detention, and the court granted detention with no visitation.
Major US stock indexes closed lower on Friday (30th) as tech earnings and outlooks failed to ease market concerns over heavy spending on artificial intelligence, triggering selling in semiconductor stocks. The Nasdaq fell 2.86%, its biggest one-day drop since June, while the Philadelphia Semiconductor Index dropped more than 7%. Intel plunged nearly 29% after weak guidance, its largest one-day decline in more than 40 years.
On the 30th, bitcoin fell below $77,000 intraday after Binance, a major global cryptocurrency exchange, was suspected of a hacking attack affecting about $6.3 billion in funds. Binance has suspended deposits and withdrawals and frozen about $3 billion in affected assets. Industry experts allege North Korea is behind the attack, describing it as the largest hacking incident in the cryptocurrency industry's history.
Intel reported better-than-expected earnings for the last quarter on January 29, but its guidance for the current quarter disappointed. The company warned that surging memory prices will slow PC sales, with the slump likely lasting until at least the first half of next year. Supply chain problems also affect its data center components, and Intel plans to significantly increase spending next year, making positive free cash flow difficult. Shares fell 25% after hours on January 29 and dropped 30% in early trading on January 30, wiping out more than $120 billion in market value.
During routine online patrols, investigators from the New Taipei City Investigation Office's Banqiao Station found netizens spreading suspected audio of Shen Po-yang, a Democratic Progressive Party candidate for Taipei mayor, on Facebook and Threads. The audio claimed he received kickbacks from military procurement deals. Bureau forensic analysis confirmed the audio was AI-synthesized.
At the final stage of the 2026 Kaohsiung mayoral debate, Ke Chih-en said she and Chen Chi-mai had both run as repeat candidates. Having lost before, she said she would cherish the chance to serve Kaohsiung better.
During a military self-inspection, chips marked "CN" were allegedly found in drones supplied under a military procurement contract awarded to Yatuo Technology, and the military reported the case. Taichung prosecutors found at least two contracts totaling over NT$8 million allegedly used Chinese-made chips. Founder Du Dasen and his wife are suspected in the case. Prosecutors sought detention, and the court granted detention with no visitation.
The KMT and TPP legislative caucuses used their majority to pass an amendment to the Criminal Code that allows the death penalty as the maximum sentence for repeat drugged driving causing death. Drugged-driving deaths have already been prosecuted as murder. In one case, Liu Zongxin, chief of the Qingshui Police Substation under the Tucheng Police Precinct in New Taipei, was hit and dragged to death by a car driven by a woman who was carrying drugs. The first-instance court sentenced her to death for murder. Lawyer Huang Diying said court practice already includes such precedents and that the law should not be amended hastily.
Clashes between Yemen's Houthi movement, known as Ansar Allah, and the Saudi-led coalition are escalating. The coalition said today it intercepted and destroyed a drone near Riyadh and intercepted a missile fired toward the area. The United States has ordered the evacuation of non-emergency personnel.
Early voting for the US midterm elections next week has reached a record high of about 47.9 million people, according to statistics released today. Turnout in several key swing states has also drawn attention.
The US Federal Communications Commission (FCC) on Thursday approved a rule barring testing, certification and accreditation bodies in China and other economies designated as “non-reciprocal” from performing FCC-related work. The rule takes effect in December 2028. On Friday, China’s Ministry of Commerce demanded that the US immediately withdraw the measure and warned that it would take necessary steps to protect its interests if Washington “insists on its own course.” The ministry accused the FCC of ignoring China’s objections and repeatedly imposing restrictions on China, violating consensus reached by the two countries’ leaders, and said the measures “seriously damage” bilateral economic and trade relations and disrupt global supply chains.
Taoyuan prosecutors detained a 49-year-old man surnamed Zheng in Zhongli District on the 30th over the suspected spreading of a deepfake audio clip, circulated on the social media platform Threads, that purportedly features Shen Boyang, a Democratic Progressive Party candidate for Taipei mayor. The clip falsely alleged that Shen took kickbacks related to a US arms deal and used drugs. Prosecutors petitioned for detention, and the Taoyuan District Court set bail at NT$100,000 after questioning. If he cannot find a guarantor, he will be detained.
US media reported that the commander of U.S. Central Command rarely briefed President Trump directly on military options against Iran, which may signal an imminent major military action. Bloomberg analysts expect Trump may resume military action against Iran regardless of the midterm election results. On the 30th, international oil prices rose, with Brent crude futures up 2.5% to $117.76 per barrel.
According to Reuters, dockworkers in several European countries went on strike on Friday, the 30th, affecting shipping and ferry services at some ports. The strike involves 113 ports in 22 countries. Protesters object to ports being used to transport weapons and to the continued deaths of seafarers in conflict zones from the Persian Gulf to the Black Sea. They also demand higher wages and better working conditions, and doctors on ships passing through war zones.
Amazon and Intel reported third-quarter earnings on the 29th that fell short of expectations, intensifying market concerns over heavy AI-related spending. On Friday the 30th, US stocks fell, with the tech-heavy Nasdaq dropping 2.86%, its largest single-day decline since June 5. Intel shares plunged more than 28%, and Taiwan Semiconductor Manufacturing Company's ADR fell nearly 6%.
The Federal Reserve held interest rates steady this week, and several officials signaled rate hikes on Friday (30th). Dallas Fed President Lorie Logan said in prepared remarks that the FOMC needs to raise rates at least two more times, by 25 basis points each, to effectively curb inflation. Presidents of the St. Louis and Richmond Fed banks also backed further tightening. Market expectations for a December rate hike rose to 73%.
Major US stock indexes closed lower on Friday (30th) as tech earnings and outlooks failed to ease market concerns over heavy spending on artificial intelligence, triggering selling in semiconductor stocks. The Nasdaq fell 2.86%, its biggest one-day drop since June, while the Philadelphia Semiconductor Index dropped more than 7%. Intel plunged nearly 29% after weak guidance, its largest one-day decline in more than 40 years.
Earnings reports from major US technology companies failed to win favor with the market, deepening doubts about the artificial intelligence (AI) investment boom. Heavy selling in technology stocks dragged US shares lower today.
Amazon's cloud unit, Amazon Web Services (AWS), posted last-quarter revenue growth that beat expectations. However, growth at the core e-commerce business slowed, artificial intelligence (AI) spending surged, and free cash flow deteriorated. Holiday shopping season sales disappointed, and AI spending will rise substantially next year. These concerns outweighed optimism that AWS will accelerate growth over the next two years. Shares fell sharply in after-hours trading on the 29th and dropped as much as 7% in early trading on the 30th.
Intel shares fell 30% intraday on Friday, possibly their largest single-day drop on record, wiping out more than $146 billion in market value and pressuring global chip stocks. Reuters reported that Intel expects quarterly revenue more than $1 billion below market expectations and warned that cash flow will not turn positive this year. Weak PC demand, rising memory prices and higher AI infrastructure costs have led investors to reassess the profit and cash flow outlook for the tech sector.
The Bank of Japan held its benchmark rate at 1.25% on the 30th, as widely expected. For the first time after decades of deflation, the bank said underlying inflation has reached its 2% target, and it will now focus on preventing overshooting. It hinted a rate hike could come as early as December. The BOJ also announced it will accelerate reductions of its ETF holdings starting in January. The yen rose 0.3% to 157.27.
Server rail maker Chuan Hu (2059) announced on the 30th that its subsidiary Chuan Yi Technology's board approved capital expenditure budgets for its third and fifth factories, totaling NT$19.712 billion. The investment will fund building plants and purchasing equipment in Kaohsiung, with the goal of becoming the world's largest slide rail factory. The expansion responds to demand driven by cloud service providers continuing to expand computing capacity.
Intel's data center revenue posted its strongest growth in 15 years, but rising memory prices are dampening PC upgrade demand. The company expects fourth-quarter client revenue to fall more than 20% quarter on quarter, and no clear timeline has been set for major external foundry orders. Weaker-than-expected guidance, along with sharply higher capital expenditure next year and the risk of negative free cash flow, pushed the stock down nearly 30% intraday on Friday the 30th.
US chipmaker Intel's shares fell 29% in early trading today after the company issued a financial forecast below expectations. The drop could be the largest single-day decline on record and has sparked a selloff in tech stocks.
According to CNBC on October 30, Hon Hai chairman Liu Yangwei told a foreign media outlet that demand for artificial intelligence (AI) infrastructure has not slowed. He said Hon Hai could capture 50% of the AI server market within a few years.
Market research firm DRAMeXchange said on the 30th that the average contract price of general-purpose DRAM products (DDR4 8Gb 1Gx8) rose to US$27.5 in October, a new record high.
Intel reported better-than-expected earnings for the last quarter on January 29, but its guidance for the current quarter disappointed. The company warned that surging memory prices will slow PC sales, with the slump likely lasting until at least the first half of next year. Supply chain problems also affect its data center components, and Intel plans to significantly increase spending next year, making positive free cash flow difficult. Shares fell 25% after hours on January 29 and dropped 30% in early trading on January 30, wiping out more than $120 billion in market value.
The New York Times reported that US authorities have identified an executive at Singapore-based data center operator Megaspeed, surnamed Huang, as a Chinese spy. Nvidia CEO Jensen Huang said on the 29th that Nvidia's dealings with Megaspeed are normal and nothing unusual.
A recent study suggests artificial intelligence could significantly advance the detection of pancreatic cancer. Researchers developed a system called REDMOD, which identifies potential signs from medical imaging data. The study reports a sensitivity of 73%, outperforming traditional interpretation methods, and an early warning up to 15 months ahead.
On the 30th, bitcoin fell below $77,000 intraday after Binance, a major global cryptocurrency exchange, was suspected of a hacking attack affecting about $6.3 billion in funds. Binance has suspended deposits and withdrawals and frozen about $3 billion in affected assets. Industry experts allege North Korea is behind the attack, describing it as the largest hacking incident in the cryptocurrency industry's history.
Hackers stole $6.3 billion from Binance, the world's biggest cryptocurrency exchange. Analysts blamed North Korea for the theft.
Binance was hacked on Thursday, with about $6.3 billion in crypto assets stolen. According to NBC News, roughly $3 billion may have been located and frozen across several exchanges, though recovery was unclear. Binance said customer withdrawals should resume by Sunday and deposits are unaffected. Co-CEO Richard Teng said on Friday the attack was complex and likely involved more than one hacker, and that customer assets are safe. NBC reported that Binance's corporate holdings were affected. The North Korean hacking group TraderTraitor is reportedly suspected of involvement.
The U.S. State Department said on Friday it had approved the sale of 500 Patriot PAC-3 missiles to Ukraine for an estimated $2.1 billion. Ukraine will pay for the purchase.
President Donald Trump on Friday intensified efforts to preserve Republicans' congressional majorities ahead of Tuesday's U.S. midterm election. He restored planned final-hour rallies that he had canceled a day earlier.
Binance describes the cyber-attack as complex and believes it is the largest of its kind. The crypto exchange is attempting to recover $6.3 billion stolen in the hack, which has been linked to North Korea.
Russia's flagship independent newspaper Novaya Gazeta announced on Friday that it was closing, saying it had been "killed" by state pressure. The paper, whose reporting criticised the Kremlin and its war in Ukraine, was one of the last outlets to openly criticise Russia's offensive. The closure is the latest outcome of Moscow's campaign against dissenting voices.
North Korean hackers reportedly attacked cryptocurrency exchange Binance, stealing $6.3bn in 30 minutes. The scale of the theft is described as unprecedented for crypto theft.
Binance, the world's largest crypto exchange, says an engineer's laptop was compromised in a major security breach. The company is rushing to recover customer funds.
Ukraine struck a Russian oil refinery, the first such strike in two weeks. The attack follows Russian strikes on Thursday that killed 27 civilians.
Israel's election results have been released, showing the makeup of the country's next parliament, but it remains unclear who will become prime minister.
Hundreds of people were evacuated from the Russian-occupied front-line town of Oleshky during a rare ceasefire in Ukraine. Hundreds more are understood to have stayed in the town despite the dangers.
Spanish Transport Minister Óscar Puente has faced calls to resign after two high-speed trains collided earlier this week, killing at least 69 people. He has said he will not step down over the high-speed rail disaster.
Binance, the world's largest cryptocurrency exchange, said Thursday it is investigating reports of a potential security issue. Its founder said the incident "does look like a hack on Binance." The company said late Thursday that the estimated total impact exceeds $6 billion, which could be one of the most significant such security incidents on record.
On Friday, a sell-off in tech stocks deepened over concerns that Wall Street's frenzy around artificial intelligence had pushed prices too high. The S&P 500 fell 1.8 per cent, its worst day since June, and closed out a third straight losing week. The Nasdaq Composite dropped a market-leading 2.9 per cent, while the Dow Jones Industrial Average lost 572 points, or 1.1 per cent.
Top Democrats on US congressional intelligence committees say they are preparing to check and respond to any claim by President Donald Trump that foreign powers interfered in the November 3 midterm elections. They say they have seen no sign of any country interfering with voting or vote counting. The concern comes as Democrats lead by eight points among likely voters in the fight for control of Congress, according to an October 27 PBS News/NPR/Marist poll.
In Jiujiang, Jiangxi Province, China, a first-instance court convicted a girl who was 15 at the time of rape in a case involving prostitution of a minor and sentenced her to five years and six months in prison. Ten men were also convicted of rape in the case, which followed years of efforts by the victim's family.
Prosecutors in Taichung have indicted former Changhua Bar Association chair Chen Yu-hsuan and others, who are suspected of taking advantage of the Tzu Chi Foundation's urgency to buy BNT vaccines to defraud it of about NT$1.06 billion. At a court appearance on the 30th, Chen denied the fraud charge, complained of overcrowded detention facilities and difficulty meeting with lawyers, and said her faith in the law was gradually collapsing. She is seeking bail of NT$5 million.
The Penghu District Prosecutors Office is investigating the suspected fraudulent claim of a winning lottery ticket worth NT$10 million. A man surnamed Bao had initially been granted bail of NT$100,000. Prosecutors appealed, arguing that detention was still necessary, and the Kaohsiung Branch of the Taiwan High Court overturned the ruling and ordered the Penghu District Court to reconsider the case. After a hearing on the 30th, the court found Bao suspected of serious involvement and ruled that detention was necessary, ordering him held without visitation.