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Cross-Strait · ElectionsPress ✓ 5 outlets · the core allegation rests only on Beijing and Hong Kong media, with no independent verification

Taiwan Affairs Office announces “punishment” of another company tied to Puma Shen's father; Shen calls it mudslinging in election season, Mainland Affairs Council condemns “interference in a democratic election”

It began with reports on the 13th in Hong Kong's Wen Wei Po and Ta Kung Pao: after Zhaoyi was sanctioned last year, it kept doing business in China through a company called VWAY. On the 14th the Taiwan Affairs Office followed up by announcing a ban on dealings with VWAY; as for the allegation itself, we found no verification from Taiwan's authorities or any third party.

Hong Kong's Wen Wei Po and Ta Kung Pao ran reports on the 13th, one after the other, alleging that Zhaoyi, a company under Shen Tu-cheng, the father of Democratic Progressive Party Taipei mayoral candidate Puma Shen, switched to another company, VWAY, to keep dealing with China after it was “punished” by China last June (Liberty Times, CNA). At a press conference on the 14th, China's Taiwan Affairs Office of the State Council announced punishment of VWAY, banning it from dealing with Chinese companies; spokesman Chen Binhua also demanded that the other side “prove its innocence” and give Taiwan society an account (Liberty Times, United Daily News). At the same press conference the office also criticized host Kevin Tsai for attending the opening of Shen's campaign headquarters, saying no one can make money from the mainland while being a “two-faced” person; it also said the younger brother of Robert Tsao, former chairman of UMC, was recently refused entry at Shanghai because Tsao has been put on a list of “Taiwan independence diehards,” and that his family members are likewise barred from entry (United Daily News, Liberty Times, Economic Daily News). Shen said in a recent interview with Jaw Shaw-kong that, provided there are no political preconditions, he could take part in the Shanghai-Taipei Twin-City Forum, but exchanges need good risk control; the office's response was that “Taiwan independence diehards” have no standing to talk about cross-Strait exchange (Liberty Times).

Shen responded on the 14th that this is “reheated leftovers” and he has clarified it many times; he added that he has long been wanted and sanctioned and would like to see what “new dishes” the other side can serve up (CNA, Liberty Times). His campaign office said that Taipei residents are electing a Taipei mayor and that this kind of tactic will not win their trust (CNA). The Mainland Affairs Council called it a vicious attempt to interfere in a democratic election; the Democratic Progressive Party caucus in the Legislative Yuan said no democracy would allow another country to reach into its elections (Liberty Times, CNA). Citing an informed source, CNA said the Taiwan Affairs Office first made the allegations through Hong Kong media and then forwarded them to Taiwanese media, but most Taiwanese outlets did not follow up, which is why it staged it again at the press conference; this is an anonymous account and we have no second source. As to whether Zhaoyi and VWAY really have the relationship the Hong Kong media claim, what business was actually done, and whether Shen Tu-cheng or the two companies have responded, we found nothing; nor have Taiwan's authorities released any investigation result.

Seen against the larger background, this is Beijing acting for days in a row against people around Taiwan's elections. On the 12th, China announced sanctions on ministers of Paraguay and Belize; Belize's prime minister said on the 14th that the sanction is unreasonable and will only make his government more firmly supportive of Taiwan (CNA, Liberty Times). The U.S. State Department also issued a statement on the 12th opposing Beijing's “coercive and aggressive actions” against countries exercising their sovereign rights (Liberty Times). What can be confirmed is the timeline and the official actions: Hong Kong media reported on the 13th, the Taiwan Affairs Office announced on the 14th, and Taiwan's authorities and the person concerned responded the same day. What remains to be confirmed is the core allegation itself. Counting from today, there are 44 days to the nine-in-one elections on November 28.

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By the numbers
1 dayGap between the Hong Kong media report on the 13th and the Taiwan Affairs Office announcement on the 14th (Liberty Times, CNA)
1 companyNewly named for “punishment” this time: VWAY (Liberty Times)
44 daysFrom today to the nine-in-one elections on November 28
Energy · DiplomacyPress ✓ 5 outlets · price and contract terms not yet released

Trump says Taiwan will buy 30% of the gas from an Alaska pipeline; Ministry of Economic Affairs confirms CPC plans to buy 6 million tonnes a year and invest up to US$4.4 billion, with supply as early as 2032

At a rally in Alaska on the 13th, U.S. President Trump said Taiwan has agreed to buy 30% of the gas from a liquefied natural gas pipeline project there over the next 20 years, and to add US$4.4 billion in investment (Reuters, CNA, Liberty Times). U.S. Commerce Secretary Howard Lutnick also said Taiwan has committed to invest US$4.4 billion in it (PTS). On the 14th the Ministry of Economic Affairs confirmed that CPC Corporation signed a letter of intent for investment last March; under current plans it will buy 6 million tonnes a year and take part in developing the project, with investment of up to US$4.4 billion, and if all goes well, supply could begin as early as 2032 (CNA, PTS). Premier Cho Jung-tai said governments everywhere are working to stabilize energy supply and hoped society would give more support to state-run units in oil, gas and power (CNA). The Kuomintang caucus demanded that the full assessment report be sent to the legislature for review, and opposition parties also said the government cannot “accept every U.S. demand” (Liberty Times, PTS). PTS noted that before the Middle East war broke out, the United States accounted for about 10% of Taiwan's natural gas purchases. The Ministry of Economic Affairs has not released the price, contract term or payment terms, and we did not find them.

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Word of the day
Letter of intentLAW

A document in which two sides state their willingness to cooperate and list the main terms; it is usually not the final sales contract, and whether it is binding, and how far, depends on how its clauses are written.


World · FinancePress ✓ 6 outlets · closing figures for the S&P 500 and the Philadelphia Semiconductor Index are not included

U.S. September CPI up 3.7% from a year earlier, above expectations, rate-hike bets rise; Nasdaq falls more than 1.8%, dollar climbs to more than a one-year high

The U.S. Bureau of Labor Statistics announced on the 14th that the September consumer price index (CPI) rose 0.6% from the previous month, in line with expectations, and 3.7% from a year earlier, above the expected 3.6% (Liberty Times, Reuters). Reuters said higher gasoline prices were the main driver and core CPI also strengthened; FinancialJuice lists core CPI up 2.6% from a year earlier against an expected 2.5% (single-source). Markets promptly raised their bets on a Federal Reserve rate hike: CNA and Reuters reported that investors expect a hike as soon as later this month, and the dollar and government bond yields rose with it. Bloomberg said the dollar climbed to its highest since May 2025 and U.S. Treasuries fell; FinancialJuice added that traders have fully priced in two rate hikes by the end of next January, while Citi has put a quarter-point hike in December into its forecast (both single-source). Officials' tone was not uniform: Federal Reserve official Collins said on the 13th that another hike before year-end is one option, while Bowman said on the 14th that there is time to “wait and see” (Reuters, Bloomberg). The main U.S. stock indexes closed lower, with the Nasdaq Composite down more than 1.8% and the Dow Jones Industrial Average down 48.62 points, or 0.09%, at 51,621.48 (CNA, Liberty Times); for the closes of the S&P 500 and the Philadelphia Semiconductor Index we did not find firm reports from two or more outlets, though the semiconductor index was down about 2.2% at one point intraday (Yahoo Finance). European stocks bucked the trend and closed higher, with London's FTSE 100 up 74.53 points, or 0.70% (CNA, Liberty Times). The International Monetary Fund (IMF) had warned on the 13th that inflation, debt and AI-related borrowing could cause government bond yields to rise in a “disorderly” way (Liberty Times, citing CNBC).

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World · Middle EastPress ✓ 5 outlets · accounts differ on why the ship sank

Two Singapore-flagged cargo ships hit by unidentified flying objects in Strait of Hormuz, 1 sinks, 43 crew rescued; Reuters, citing officials, says Iran is stepping up attacks on shipping before U.S. midterm elections

The Maritime and Port Authority of Singapore said on the 14th that two Singapore-registered cargo ships were hit by “unidentified flying objects” as they sailed through the Strait of Hormuz; one caught fire and sank, the other was damaged, and all 43 crew were rescued safely (Liberty Times). Reuters and Bloomberg also reported that a cargo ship sank after an attack near the strait; Britain's Guardian said another ship was also reported to be sinking, calling this the most intense wave of attacks on shipping since the war began. We have not checked whether these reports refer to the same ship. Accounts of the cause also differ: Reuters, citing sources, said the ship was hit by a projectile, while FinancialJuice, relaying a statement from Iran's Revolutionary Guards, said a container ship hit a mine on the south side of the strait and sank (single-source); the two cannot currently be corroborated against each other. Reuters earlier cited officials as saying Iran is changing tactics and will step up attacks on shipping before the U.S. midterm elections, and PTS has a similar account (Reuters, PTS). Elsewhere, Yemen's Houthis attacked Saudi Aramco's headquarters in Dhahran on the 13th; Reuters, citing 3 sources, said the damage was severe, while the Saudi state news agency said there was only limited fire and no casualties (relayed by FinancialJuice, single-source). On the 14th the Houthis vowed more attacks on Saudi airports and oil facilities (Reuters). On oil prices, New York West Texas Intermediate crude futures for November closed at US$95.09, up 1%; CNA said the conflicts in the Middle East and between Russia and Ukraine have again threatened oil supply that had only just recovered to close to pre-war levels. The International Energy Agency said diesel shortages could last into 2027 (Reuters, CNA).

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Finance · MarketsPress ✓ 5 outlets · U.S. stocks are the Wednesday (10/14) close; right-ear market data came after the deadline, so none is listed

Taiwan stocks halt slide on the 14th, rebounding 284 points to close at 48,625.83, with TSMC giving up all its gains to finish flat; Taiwan index futures night session falls after hot U.S. CPI, TSMC holds investor conference today

Taiwan stocks halted their slide on the 14th, led by traditional industries. The TAIEX opened more than 350 points higher and swung about 670 points intraday, reaching a high of 49,059.12 and at one point regaining the 49,000 level before gains narrowed late in the session; it ended up 284.52 points, or 0.59%, at 48,625.83, on turnover of NT$928.624 billion (CNA). The Formosa Plastics group led: Formosa Plastics, Nan Ya Plastics and Formosa Chemicals & Fibre were strong, Nan Ya hit a record high, and Formosa Chemicals & Fibre at one point surged about 7% intraday (CNA, Yahoo Finance); TSMC was up NT$45 at one point early, back to NT$2,500, but selling pressure late in the session wiped out its gains and it closed flat at NT$2,490 (CNA, Yahoo News). Among institutional investors, foreign investors had net selling of NT$20.037 billion, most heavily in Nanya Technology at about 22,900 lots, while net buying of China Steel, at 77,000 lots, was the largest; investment trusts were net buyers and proprietary traders net sellers, and the three major institutional investors combined had net selling of NT$15.397 billion (CNA). The Liberty Times tallied foreign net selling of about NT$313.4 billion over the past 4 trading days. The NT dollar turned from weaker to stronger late in the session as the central bank and exporters sold dollars, closing at 32.073, up NT$0.012 and ending a four-day losing streak; intraday it had weakened by more than NT$0.14 and broke below 32.2 (CNA, Liberty Times).

But on the evening of the 14th the U.S. announced September CPI up 3.7% from a year earlier, above expectations; U.S. stocks closed lower and the Nasdaq Composite fell more than 1.8% (CNA, Liberty Times). Yahoo Finance reported that the Philadelphia Semiconductor Index was down about 2.2% intraday and TSMC's ADR was down about 1.5%. The Taiwan index futures night session fell accordingly: China Times and Yahoo Finance said it was at one point down nearly 400 points, while SET News said the drop at one point widened to 669 points; we did not find the night session's final close, so whether today's morning session opens lower will be known only at the actual open. Another variable for tech stocks is memory: China's DRAM maker ChangXin Memory was said to have made a key breakthrough in a 4F² memory architecture, and on the 13th Micron's shares fell another 3.6%, triggering selling in memory stocks (Anue, Liberty Times, Yahoo Finance); IBD, citing one analyst, said the market overreacted (Liberty Times). Semiconductor equipment giant ASML raised its outlook on the 14th and said AI-driven demand exceeds supply and will be hard to meet for customers in both 2027 and 2028 (Reuters, Financial Times). TSMC holds its investor conference today (the 15th) and will announce third-quarter results (Liberty Times).

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In brief
  • An employee was caught in a machine while repairing it at Unimicron's Yangmei Plant 1 on the 13th and died after being taken to hospital; the Labor Inspection Office ordered a partial work stoppage; the company issued a material-information announcementLiberty Times, SET News
  • Legislature debates relocating Songshan Airport: Defense Minister Wellington Koo calls it part of national defense resilience that should be assessed carefully, the Ministry of Transportation and Communications says the hub for domestic flights should be weighed carefully, and Chiang Wan-an says it should be reassessedCNA, Liberty Times
  • Netflix reportedly to cut about 1,000 jobs, about 6% of staff, the largest cut since 2022 (reported by the Wall Street Journal)Reuters, Financial Times, CNA
  • Eight U.S. states including Iowa and Kansas sue OpenAI in state court, alleging ChatGPT harms childrenReuters, Liberty Times
  • China's September consumer price index up 0.9% from a year earlier, below the expected 1.0%, while producer prices accelerateReuters, Liberty Times
  • Commander of Ukraine's 3rd Army Corps says the counteroffensive in eastern Donetsk has retaken 16 villages (Ukrainian account)Liberty Times, Reuters
  • Japan's data breach widens: a sushi delivery operator reportedly leaked about 6.5 million customer records, and PTS says the incident now involves 20 companies and about 10 million recordsLiberty Times, PTS
  • Tainan's railway undergrounding opens to traffic on the 17th, with traffic controls at Tainan Station on the 16th and 17th (single-source)Liberty Times
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Unverified — what we could not confirm

“Puma Shen condoned his father's ‘shell swap’ to keep making money from China.” The account of the Hong Kong media Wen Wei Po and Ta Kung Pao and of the Taiwan Affairs Office; Shen calls it reheated leftovers; we found no independent verification and no investigation result from Taiwan's authorities, so it is listed as unverified (Liberty Times, CNA).
“Taiwan will spend US$70 billion to US$80 billion buying Alaskan natural gas.” This figure comes from FinancialJuice relaying Trump's statement and has not been seen in other outlets; what the Ministry of Economic Affairs confirmed is a purchase plan of 6 million tonnes a year and an investment of up to US$4.4 billion, which are not the same kind of number; the total and how it was calculated have not been released, so it is listed as unverified.
“With one sentence from the Ministry of Labor, employers must support a migrant worker's entire family.” In a statement late on the 13th the Executive Yuan called this claim circulating online seriously false information, to be clarified by the Ministry of Labor; we obtained only the statement's title and could not check the details, and no second outlet reported it, so it is for reference only.
Glossary · dotted words — economics, law, security and science terms explained in the context of the story. The list grows every day.
INSIDETaiwan Affairs Office announces “punishment” of another company tied to Puma Shen's father; Shen calls it mudslinging in election season, Mainland Affairs Council condemns “interference in a democratic election”Cross-Strait · ElectionsTrump says Taiwan will buy 30% of the gas from an Alaska pipeline; Ministry of Economic Affairs confirms CPC plans to buy 6 million tonnes a year and invest up to US$4.4 billion, with supply as early as 2032Energy · DiplomacyU.S. September CPI up 3.7% from a year earlier, above expectations, rate-hike bets rise; Nasdaq falls more than 1.8%, dollar climbs to more than a one-year highWorld · FinanceTwo Singapore-flagged cargo ships hit by unidentified flying objects in Strait of Hormuz, 1 sinks, 43 crew rescued; Reuters, citing officials, says Iran is stepping up attacks on shipping before U.S. midterm electionsWorld · Middle EastTaiwan stocks halt slide on the 14th, rebounding 284 points to close at 48,625.83, with TSMC giving up all its gains to finish flat; Taiwan index futures night session falls after hot U.S. CPI, TSMC holds investor conference todayFinance · Markets