Having established and operated a successful accelerator in Taiwan for five years, CDIB Capital Group’s (中華開發資本) Capital Innovation Accelerator is planning to set up a presence in Japan by the end of this year to assist Taiwanese start-ups, it said in a news release on Tuesday.
As a first step in building a regional venture ecosystem for the group, the CDIB Innovation Tokyo Hub aims to help young Taiwanese enterprises access the Japanese market, in line with the policies of the National Development Council (NDC), it said.
The NDC is later this month to lead a consortium of Taiwanese enterprises to attend
EQUITIES
<strong>TAIEX losses continue</strong>
The TAIEX yesterday extended losses from a week earlier, falling more than 100 points, as investors reacted to heavy losses by semiconductor stocks on the US market on Friday. Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the most heavily weighted stock on the local market, kept moving lower throughout the day, driving the broader market near 14,200 points by the end of the session, amid fears over growing inflation and rate hikes worldwide. The TAIEX closed down 126.02 points, or 0.88 percent, at 14,217.06. Turnover totaled NT$231.889 billion (US$7.8 billion), with foreign institutional investors selling a net
China Development Financial Holding Corp’s (CDF, 中華開發金控) net profit in the first quarter edged downward from a year earlier because of lower investment gains and decreased earnings contributions from its investment and securities arms, the company told an investors’ conference yesterday.
The firm’s investment arm, CDIB Capital Group (中華開發資本), posted a net loss of NT$570 million (US$19.47 million) in the first quarter, compared with net profit of NT$1.62 billion a year earlier, because of investment declines.
Its securities arm, KGI Securities Ltd (凱基證券), posted net income of NT$1.37 billion, down 58 percent from a year earlier, as its trading business and bond