Dhaka, Bangladesh
Taiwan's manufacturing output value down 4.57 pc in Q2

Taiwan's manufacturing output value down 4.57 pc in Q2

TAIPEI, Aug. 21 (Xinhua): Taiwan's manufacturing sector continued to shrink in the second quarter of this year, the island's economic authority said. The contraction remained for two quarters in a row. And the total production value of the island's manufacturing sector from April to June was 3.32 trillion new Taiwan dollars (about 106 billion U.S. dollars), down 4.57 percent from a year earlier. Despite declines in production across various industries within the sector, production value of the computer and electronic goods and optical components industry surged 20.93 percent, the highest growth rate since the fourth quarter of 2011. Among the traditional industries, the production value of chemical raw materials sector dropped 14.79 percent from a year earlier, on the back of falling crude oil prices on the international market. The authority expects that economic production will gradually recover in the second half of this year. China's listed banks registered stable growth in net profit in the first half of this year, with better asset quality, data showed. Of the 14 listed banks that have released semi-annual reports or earnings estimates, 13 saw double-digit growth in revenue and 11 saw net profit rise by more than 10 percent. China Merchants Bank, one of the largest lenders in China, raked in 50.6 billion yuan (about 7.18 billion U.S. dollars) in net profit attributable to shareholders, up 13 percent year on year. Ping An Bank, a Shenzhen-listed lender controlled by Ping An Insurance, reported a 15.2-percent growth in net profits in the first half, while its non-performing loan ratio went down 0.07 percentage points from the end of last year. Wang Yifeng, an analyst with Everbright Securities, said that the listed banks are expected to report a 5 to 6-percent growth in combined net profits, with smaller interest rate spreads putting pressure on second-quarter revenue. Amid government push to address risks in the financial sector, the banks have adopted stricter risk control policies, leading to better asset quality, analysts said. By the end of the first half, a total of 13 banks kept their non-performing loan ratio within 2 percent, with nine seeing a year-on-year decrease in the ratio, data showed.

Share |