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Sirens wail, cities shut down as Taiwan simulates Chinese air raid
Sirens wail, cities shut down as Taiwan simulates Chinese air raid

GMA Network

time17-07-2025

  • Politics
  • GMA Network

Sirens wail, cities shut down as Taiwan simulates Chinese air raid

Hotel staff take shelter at the parking lot during an annual air-raid exercise in Hsinchu, Taiwan, July 17, 2025. REUTERS/Ann Wang TAIPEI - Sirens wailed, roads emptied and people were ordered to stay indoors in Taiwan's capital Taipei on Thursday during an annual air-raid exercise aimed at preparing for any Chinese missile attack. Sirens sounded at 1:30 p.m. (0530 GMT) for the mandatory street evacuation drills, which effectively shut towns and cities across northern Taiwan for 30 minutes. An alert, asking people to evacuate to safety immediately, was sent via phone text message by the defense ministry. "Air Defense Drill. Missile attack. Seek immediate shelter," it read in Chinese and English, accompanied by a shrill alarm. Taiwan authorities this month updated instructions on what people should do when air-raid alerts are issued, including for citizens who are not able to get into shelters in time or for those who are driving a car. China, whose government views democratically governed Taiwan as its territory over the island's rejection, has ramped up its military pressure over the past five years, including almost daily fighter jet flights into the skies around the island. In the past 24 hours, 58 Chinese military planes including fighter jets were detected around Taiwan, its defense ministry said. Among them, 45 crossed the Taiwan Strait median line, an unofficial buffer zone. Taiwan President Lai Ching-te, who China reviles as a "separatist", rejects Beijing's sovereignty claims and says only Taiwan's people can decide their future. He has repeatedly offered talks with China but has been rebuffed. China has never renounced the use of force to bring Taiwan under its control. During the drill, police in Taipei directed vehicles to move to the side of roads and people already not inside were told to seek shelter. Some shops and restaurants pulled down shutters and turned off lights - steps aimed at reducing the risk of becoming a target in the event of a night-time attack. Sirens sounded 30 minutes later to give the all-clear. The civil defense drills are taking place at the same time as Taiwan's largest ever military drills, which simulated attacks on its command systems and infrastructure, as well as China's grey zone tactics including military incursions and a disinformation campaign designed to test Taiwan's response. — Reuters

TSMC quarterly profit seen hitting record but Trump tariffs, forex a concern
TSMC quarterly profit seen hitting record but Trump tariffs, forex a concern

The Star

time17-07-2025

  • Business
  • The Star

TSMC quarterly profit seen hitting record but Trump tariffs, forex a concern

FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Company (TSMC) is displayed at its fabrication plant in Kaohsiung, Taiwan, June 7, 2025. REUTERS/Ann Wang/ File Photo TAIPEI (Reuters) -TSMC, the world's main producer of advanced AI chips, is expected to post a 52% jump in second-quarter profit to record levels on Thursday, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook. Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a key supplier to Nvidia and Apple, is forecast to report net profit of T$377.4 billion ($12.9 billion) for the three months through June 30, according to an LSEG SmartEstimate compiled from 21 analysts. SmartEstimates place greater weight on forecasts from analysts who are more consistently accurate. The company will report the headline profit figure at 0530 GMT which will be followed by an earnings call from 0600 GMT that will include third-quarter guidance. TSMC has already flagged a rise in second-quarter revenue of 38.6%. Any profit result above T$374.68 billion would mark the company's highest-ever quarterly net income and its sixth consecutive quarter of profit growth. It remains unclear just how much U.S. President Donald Trump's tariffs will affect TSMC. Taiwan was threatened with a 32% reciprocal tariff rate in April but has yet to be notified of an updated figure that some countries have received. Trump also said this month that tariffs on semiconductors are likely to come soon. The company said in June that U.S. tariffs were having some indirect impact, noting they can lead to slightly higher prices, which may in turn weigh on demand. In March, TSMC announced a $100 billion investment in the U.S. alongside Trump at the White House, on top of $65 billion pledged for three Arizona plants - two of which have been built. Another key issue is the Taiwan dollar's 12% appreciation against the greenback so far this year. TSMC has said a 1% appreciation in the Taiwan dollar typically reduces its gross margin by 0.4 percentage points. In June, the company said that strengthening in the Taiwan dollar had shaved more than 3 percentage points off its gross margin. Shares in TSMC surged some 80% last year but have climbed just 5% for the year to date on worries about tariffs and unfavourable currency exchange rates. (Reporting by Wen-Yee Lee and Ben Blanchard; Editing by Edwina Gibbs)

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