Finance

• Taiwan stocks rose 2,128 points for the week, closing at 38,932. The TAIEX closed at 38,932.40 on April 24, up 2,128 points for the week, with turnover expanding to the trillion-NT-dollar level. (Sources: Economic Daily News, FTV News)
• TSMC closed at a record high on April 24. TSMC reached an intraday high of NT$2,190 and closed at NT$2,185, setting new intraday and closing records. (Sources: CNA reprint, Economic Daily News)
• The Financial Supervisory Commission eased the single-stock limit for securities investment trust funds and active ETFs. The cap on domestic equity funds and active ETFs investing in a single listed company was raised from 10% to 25% of net asset value; TSMC is currently the main eligible company. (Sources: FSC Laws and Regulations Retrieving System, Economic Daily News)
• The PHLX Semiconductor Sector Index kept rising, while Intel shares surged. The Philadelphia Semiconductor Index recorded an 18-session winning streak, and Intel shares jumped after its earnings release, lifting semiconductor stocks more broadly. (Source: Investing.com Hong Kong)
• Taiwan stocks swung by more than 1,700 points intraday on April 23. The TAIEX had an intraday range of more than 1,700 points on April 23, with trading value reaching NT$1.4 trillion. (Source: Economic Daily News)
• The Taiwan Gems Index drew attention over constituents and information disclosure. Taiwan Index Plus launched the Taiwan Gems Index, and the disclosure approach for related ETFs and index information drew market discussion. (Source: TWSE ETF Fortune)
• Co-Tech Development reported consecutive settlement defaults over two days. Co-Tech was reported for NT$110 million in settlement defaults on April 21 and another NT$23.43 million on April 22. (Sources: NOWnews, NOWnews)

Politics

• President Lai Ching-te’s scheduled visit to Eswatini was postponed. The Presidential Office said Seychelles, Mauritius, and Madagascar abruptly canceled flight permits for the chartered plane, forcing the visit to be postponed; Minister of Foreign Affairs Lin Chia-lung later traveled to Eswatini as the president’s special envoy. (Sources: Office of the President, Ministry of Foreign Affairs)
• Accounts diverged over Mauritius’s overflight permission. Mauritius reportedly said it had never approved the overflight permit, while China Airlines sources said the permit had been granted and later withdrawn. (Sources: FTV News, FTV News)
• Polls were released after Cheng Li-wun met Xi Jinping. A TVBS poll found that 46% of respondents who knew about the Cheng-Xi meeting considered it successful; another poll found that 33.2% saw the meeting as favorable for the Kuomintang in the year-end local elections, while 44.5% did not. (Sources: CNA, TVBS, TVBS)
• The Taiwan People’s Party continued to face at-large legislator succession and party membership disputes. After Lee Chen-hsiu was expelled from the TPP and lost her at-large legislative seat, the Central Election Commission announced that Hsu Chung-hsin would fill the vacancy; litigation over Hsu Jui-hsi’s party membership also raised questions about the succession order. (Sources: CNA, PTS News, FTV News)
• Preparations for the 2026 local elections continued. Polling for a possible New Taipei blue-white alliance was set to begin, with attention on Lee Ssu-chuan, Su Chiao-hui, Huang Kuo-chang, and related interactions; Taipei and Yilan races also drew coverage. (Sources: United Daily News, United Daily News)
• Review of a special national defense bill drew attention to drone procurement. The Executive Yuan’s draft special national defense bill included unmanned vehicles and countermeasure systems, and Minister of National Defense Wellington Koo said he hoped to retain drone-related items. (Source: Economic Daily News)
• AutoNavi Maps was classified as a product that endangers national cybersecurity. The Ministry of Digital Affairs said AutoNavi Maps falls under products that endanger national cybersecurity under the Cyber Security Management Act, is banned for use by government agencies, and plans to publish cybersecurity risk assessment results. (Sources: Economic Daily News, TVBS)
• The Amusement Tax Act amendment passed its third reading. The Legislative Yuan passed amendments exempting cultural and sports events, including films, concerts, and ball games, from amusement tax. (Sources: PTS News, United Daily News)
• Costa Rica’s semiconductor industry ties with Taiwan drew attention. After cutting diplomatic ties with Taiwan in 2007, Costa Rica has continued industry exchanges with Taiwan in recent years as part of its semiconductor industry development. (Sources: TVBS, NOWnews reprint)

World

• U.S.-Iran ceasefire and Strait of Hormuz talks continued. After the United States and Iran reached a two-week ceasefire arrangement, access through the Strait of Hormuz and follow-up peace talks remained key points in related reporting. (Sources: CNA, Council on Foreign Relations)
• Japan lifted its ban on exports of lethal weapons. Japan’s Cabinet approved changes to defense equipment export rules, allowing a wider range of arms exports to 17 countries with defense agreements. (Source: AP)
• Hungary dropped its veto, allowing the EU to move forward with aid loans for Ukraine. After Hungary gave up its veto, the EU advanced a EUR90 billion loan package for Ukraine and a new round of sanctions against Russia. (Sources: PTS News, The Guardian)
• South Korean prosecutors sought a 30-year sentence for former President Yoon Suk Yeol. Prosecutors accused Yoon of ordering drones into the skies above Pyongyang, North Korea, as groundwork for a later martial law declaration, and sought a 30-year prison sentence. (Sources: Economic Daily News, TVBS)
• Alphabet reportedly plans to invest in Anthropic. El País reported that Alphabet plans to invest in Anthropic, with an initial US$10 billion investment and a potential total of up to US$40 billion. (Source: El País)
• Meta is collecting employee interaction data through an internal tool to train AI agents. Reuters reported that Meta’s internal tool collects mouse, keyboard, and screen activity from employees’ work devices to train AI agents. (Sources: Reuters reprint, Business Insider)
• Tucker Carlson publicly said he regretted supporting Trump. Tucker Carlson said on his own program that he apologized for having supported Trump and misled voters. (Sources: The Guardian, NBC Boston)
• Trump reposted remarks disparaging India, prompting an official Indian response. Trump reposted an article on social media that described India and other countries in derogatory terms; India’s Ministry of External Affairs criticized the remarks as inappropriate. (Sources: United Daily News, TVBS)
• South Korea’s annual births could return to the 300,000 range. Seoul Economic Daily reported that the number of registered pregnant women and new mothers in South Korea has increased, and annual births could return to around 300,000. (Sources: Seoul Economic Daily, PTS News)
• An Indonesian official floated the idea of charging vessels in the Strait of Malacca, then later clarified it would not be implemented. Indonesia’s finance minister had mentioned a possible fee on vessels transiting the Strait of Malacca, drawing responses from Singapore, Malaysia, and others; Indonesia’s foreign ministry later said vessels would not be charged for passage. (Sources: Anue Juheng, KNEWS)

Personal Notes

Cheng Li-wun said “1992 Consensus” and “opposition to Taiwan independence” in China, and still had 46% support in the TVBS poll. Do those respondents know that the meaning of the 1992 Consensus has changed again and again? At the April 22 press conference of the Taiwan Affairs Office of the State Council, several Taiwanese media outlets asked about President Lai Ching-te’s obstructed visit to Eswatini:

First, a China Times reporter asked: “Regarding President Lai Ching-te’s blocked overseas visit, both opposition camps, the blue and white, have responded. Kuomintang Culture and Communications Committee Director Yin Nai-ching expressed deep regret and called on the mainland to exercise restraint, reduce suppression, and give the Republic of China government diplomatic space; the Taiwan People’s Party also expressed stern protest and condemnation toward the mainland side. May I ask the spokesperson for a comment?”

Taiwan Affairs Office spokesperson Zhang Han responded: “First, I must point out that Taiwan is part of China, and there is no such thing as a president. The one-China principle is a recognized basic norm of international relations. The mainland has always handled Taiwan’s foreign exchanges in accordance with the one-China principle and firmly opposes any attempt to create ‘two Chinas’ or ‘one China, one Taiwan’ internationally. Lai Ching-te attempted to use the visit to spread the fallacy of Taiwan independence separatism, incite anti-China resistance, collude with external forces in separatist provocation, intensify confrontation across the Taiwan Strait, undermine peace and stability in the Taiwan Strait, and harm the interests of the people of Taiwan. Such attempts will certainly be opposed and fail.”

After China Times, United Daily News asked: “According to Presidential Office Secretary-General Pan Men-an, the reason President Lai’s visit was postponed was that three countries, Seychelles, Mauritius, and Madagascar, abruptly canceled flight permits, and behind this was strong pressure from mainland authorities, including economic coercion. May I ask the spokesperson whether the mainland exerted pressure?”

Taiwan Affairs Office spokesperson Zhang Han: “There is no such thing as a president in Taiwan. The Democratic Progressive Party authorities stubbornly adhere to a Taiwan independence position, vainly try to play tricks to make breakthroughs, and after failing, fabricated the so-called economic coercion fallacy. This is complete nonsense, self-deception, rumor-mongering, and smearing; it is merely an attempt to cover up their own predicament. No matter what the DPP authorities say or do, they cannot change the fact that Taiwan is an inalienable part of China’s territory, nor can they stop the inevitable trend of national reunification. We hope the broad masses of Taiwan compatriots will recognize the ambitions and selfish desires of Taiwan independence separatist forces and firmly oppose Taiwan independence separatist actions.”

Then came CNA: “President Lai Ching-te’s visit to the African diplomatic ally Eswatini was blocked. The Mainland Affairs Council strongly condemned the Chinese Communist Party, saying that after the CCP recently announced 10 policy measures, it immediately maliciously sabotaged the president’s overseas visit, showing a two-handed strategy.” Taiwan Affairs Office spokesperson Zhang Han: “I once again reiterate and stress that Taiwan is part of China, and there is no such thing as a president. No matter how the DPP authorities collude with external forces or attempt so-called diplomatic breakthroughs in any form, their purpose of serving Taiwan independence is doomed to be futile. They cannot change the fact that Taiwan is part of China, nor can they shake the international community’s broad consensus and basic structure of upholding the one-China principle.”

Finally, a TVBS reporter asked: “Because the current situation is that the visit has been ‘postponed,’ will the mainland continue to use different methods in the future to stop Lai Ching-te from traveling abroad?”

Taiwan Affairs Office spokesperson Zhang Han: “Our position just now was very clear and explicit: a just cause enjoys abundant support, while an unjust one finds little support. Facts prove that the one-China principle is a basic norm of international relations and a universal consensus of the international community. It is where the trend of the times, righteousness, and public sentiment lie.”

from Chou Hsuan on Facebook

In China’s eyes, Taiwan has no president, regardless of whether that president comes from the Democratic Progressive Party, the Kuomintang, or the Taiwan People’s Party. This kind of 1992 Consensus still has support from 46% of the public.

TSMC hit a record high, and the TAIEX and Taiwan stocks also reached new highs. This rally comes from AI demand, but with domestic politics so unstable, can Taiwan stocks still keep rising? I was too pessimistic not long ago and sold out of Fubon Taiwan 50 (006208) when it was hovering around 170. Looking back now, that was a heavy loss. I have not bought back in; I have only increased the amount of my regular fixed investments while spreading my investments across Yuanta S&P 500 ETF (00646), Yuanta Aerospace & Defense Technology ETF (00965), Fubon Japan ETF (00645), and Taishin Japan Semiconductor ETF (00951). Japan has lifted its ban on weapons exports, and I hope this helps revive Japanese industry. Although Japan has many pro-China figures, at least the share is not as close to half as it is in Taiwan.

Note: This article is translated from Traditional Chinese.