Business

Shares in Taiwan moved higher by more than 180 points Monday, bouncing back from the weakness seen a session earlier after buying was sparked by gains on U.S. markets at the end of last week.

The National Development Council (NDC), Taiwan's leading economic planning agency, said Monday it will hold breakfast meetings with the business sector to better understand the support needed by small and medium-sized enterprises (SMEs) and the old economy sector.

The U.S. dollar fell against the Taiwan dollar Monday, shedding NT$0.007 to close at NT$31.961.

A subsidy program to boost travel to Hualien County will be extended through Dec. 20 and will offer increased accommodation rebates of up to NT$2,500 (US$78.75) per month from Nov. 7, the Ministry of Transportation and Communications (MOTC) said Monday.

Taiwan shares ended up 185.31 points, or 0.81 percent, at 22,965.39 Monday on turnover of NT$311.69 billion (US$9.79 billion).

The U.S. dollar was traded at NT$31.870 at 10 a.m. Monday on the Taipei Foreign Exchange, down NT$0.098 from the previous close.

The Taiwan Stock Exchange's main index opened up 59.10 points at 22,839.18 Monday on turnover of NT$5.44 billion (US$170.48 million).

The Ministry of Economic Affairs (MOEA) denied a recent report on Sunday that U.S.-based AI chip designer Nvidia Corp. has requested a large amount of green power in order to undertake new investments in Taiwan, stressing that the company's investments in the country have progressed without any problems.

Some directors of the Central Bank of the Republic of China (Taiwan) expressed their concerns over inflation, suggesting there is no rush for the bank to reduce interest rates, although several major central banks in the world have kicked off a rate cut cycle, according to the minutes of the September quarterly policymaking meeting released by the central bank.

Taiwan's October purchasing managers' index (PMI) only improved slightly compared with September, amid cautious sentiment ahead of next week's U.S. presidential election, the Chung-Hua Institution for Economic Research (CIER) said Friday