The Nikkei rises as retail stocks soar on the back of a tourism boom and tech companies recover in Japan.

Gains in the retail sector due to an influx of foreign tourists and a reversal in the fortunes of the semiconductor industry helped the Nikkei share average in Japan recover some of the ground it had lost the day before. After opening in the red, the Nikkei gained 0.18 percent to close at 28,657....

US SENATE LEADER CHUCK SCHUMER PROPOSES $52 BN FOR PRODUCTION & R&D OF CHIP IN US

Highlights

• Unveiling the proposal, Schumer said “American manufacturing has suffered rather dramatically from a chip shortage.”

• Along with boosting chip production, this proposal also includes $49.5 billion in emergency supplemental appropriations to ...

US AUTO INDUSTRY URGES GOVERNMENT TO HELP AS IT WARNS GLOBAL CHIP SHORTAGE

Highlights

• Warning about the global semiconductor shortage, a US auto industry group on Monday has called on the federal government to help

• President Biden had ordered several Federal agency actions to address the global chip shortage and is also $37 billion in f...

PRESIDENT BIDEN’S $2 TN INFRASTRUCTURE PROPOSAL INCLUDES $50 BN FOR US CHIP INDUSTRY

Highlights

• The President of the United States, Joe Biden has proposed a plan to develop country’s infrastructure, which is worth $2 trillion

• The sum of $50 billion will go toward production incentives and research and design, which also includes the creatio...

THE US AND TAIWAN ARE NATURAL PARTNERS IN WORLD’S SEMICONDUCTOR SUPPLY CHAIN: US AMBASSADOR

Highlights

• While the US and China have had on and off relationship over the past few years, the country has seen Taiwan as important part of its strategy to shift global supply chains away from China

• Christensen said “Both President Biden and President Tsai...

S. KOREA EXPECTS EXPORTS OF CHIPS TO TOP AT US$100 BILLION IN FY 2021

Highlights –

• S. Korea expects exports of chips to top at US$100 billion in FY 2021.
• The expected projection is said to increase by 10.2 percent on-year to $109.3 billion in 2021.
• The country’s two leading memory chipmakers are S...

KIAF REPORTS EXPORTS OF KEY INDUSTRIES LIKELY TO GROW BY 12% IN 2021

Highlights –

• KIAF reports exports of key industries likely to grow by nearly 12% in 2021.
• KIAF projected overseas shipments of chips, automobiles, and nine other major business sectors.
• The output of auto-industry is estimated to incr...

KOREA HITS MARKEDLY LOWEST BUSINESS EBB SINCE 2008

• The Korean economy dipped 1.4 percent in the first quarter of 2020 as a result of the coronavirus pandemic, registering the lowest growth rate since the 2008 global financial meltdown.
• Private consumption, in particular, recorded a sharp decline. Experts say the economic impact...

Economic Affairs Minister of Taiwan outlines goals

Economics Minister Shen Jong-chin (almost) said on Wednesday that his goals for this year's work are to promote investment by re-establishing Taiwanese companies and growing people's job opportunities, CNA announced on Wednesday.

The minister indicated that the ...