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☆ TSMC shares fall 3.3% after it cuts revenue outlook, delays production
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

Taiwan Semiconductor Manufacturing Co Ltd's shares closed down 3.28% on Friday, versus a 0.78% loss for the broader index (.TWII). While the company's declining revenue and profit were disappointing, its long-term growth prospects remain encouraging," Brady Wang, associate director at Counterpoint Research, said. "Despite facing macroeconomic headwinds, TSMC's long-term outlook remains robust, supported by megatrends like 5G and high-performance computing (HPC)." Other analysts were also upbeat on TSMC, thanks in part to strong demand for artificial intelligence (AI), which currently contributes around 6% of revenue. "We expect a solid 2024 onward outlook on the back of its leading position in AI chip manufacturing," Citi Research analysts said in a note.

Persons: TSMC, Brady Wang, Goldman Sachs, Yimou Lee, Sarah Wu, Anne Marie Roantree, Navaratnam, Kim Coghill Organizations: Taiwan Semiconductor Manufacturing, Counterpoint Research, Citi Research, Thomson Locations: TAIPEI, Arizona, 4Q23

☆ TSMC shares fall more than 3% after it cuts revenue outlook
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

In early trade, Taiwan Semiconductor Manufacturing Co Ltd's shares underperformed a 1.65% fall in the broader index (.TWII). While the company's declining revenue and profit were disappointing, its long-term growth prospects remain encouraging," Brady Wang, associate director at Counterpoint Research, said. "Despite facing macroeconomic headwinds, TSMC's long-term outlook remains robust, supported by megatrends like 5G and high-performance computing (HPC)." Other analysts were also upbeat on TSMC, thanks in part to strong demand for artificial intelligence (AI), which currently contributes around 6% of revenue. "We expect a solid 2024 onward outlook on the back of its leading position in AI chip manufacturing," Citi Research analysts said in a note.

Persons: TSMC, Brady Wang, Goldman Sachs, Yimou Lee, Sarah Wu, Anne Marie Roantree Organizations: Taiwan Semiconductor Manufacturing, Counterpoint Research, Citi Research, Thomson Locations: TAIPEI, Arizona, 4Q23

☆ Exclusive: Taiwan probes alleged leak of classified reports, diplomatic cables
▼ + stars: | 2023-07-21 | by ( Yimou Lee | ) www.reuters.com time to read: +3 min

TAIPEI, July 21 (Reuters) - Taiwan is investigating a potential leak of official documents including diplomatic cables and classified reports on the island's sensitive bid to join a global trade pact, according to two officials familiar with the probe. Taiwan and China both applied in 2021 to join the CPTPP, a landmark trade pact between 11 countries - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Beijing has said it strongly opposes Taiwan's membership because Taiwan is part of China and therefore ineligible to join international bodies on its own. Taiwan is however a member of the World Trade Organization, designated as a separate customs territory called Taiwan, Penghu, Kinmen and Matsu. Taiwan strongly rejects Chinese sovereignty claims and says only Taiwanese people can decide their future.

Persons: Taiwan's, Tsai Ing, China's, Yimou Lee, John Geddie Organizations: Reuters, Trans, Pacific, Taiwan's, National Security Bureau, World Trade Organization, Thomson Locations: TAIPEI, Taiwan, China, Japan, Vietnam, Washington, United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Britain, Beijing, Matsu, Lincoln

☆ TSMC flags 10% fall in 2023 sales, spending at low end of forecast
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

[1/2] A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018. The world's largest contract chipmaker estimated investment spending for this year at the lower end of a previous estimate of $32-$36 billion amid challenges from rising inflationary costs and an uncertain global economic outlook. For the second quarter ended June, TSMC, a major Apple Inc (AAPL.O) supplier, reported a 23.3% fall in net profit - beating forecasts - although it was its first on-year drop in quarterly profit since the second quarter of 2019 when it fell 7.6%. TSMC saw April-June net profit drop to T$181.8 billion ($5.85 billion) from T$237.0 billion a year earlier. TSMC, Asia's most valuable listed company, said second-quarter revenue dropped 13.7% year-on-year to $15.68 billion, in line with the company's previous forecast.

Persons: Tyrone Siu, TSMC, Refinitiv, Yimou Lee, Sarah Wu, Ben Blanchard, Jacqueline Wong Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Ltd, Apple Inc, Thomson Locations: Hsinchu, Taiwan, Arizona, TAIPEI, U.S, TSMC, China, Taipei

REUTERS/Jason Lee/File PhotoTAIPEI, July 14 (Reuters) - China's military has been flexing its muscles this week around Taiwan practicing joint force operations far out at sea, ahead of Taipei holding its annual war games at the end of the month when Taiwan will simulate breaking a Chinese blockade. Chieh Chung, a military researcher at Taiwan's National Policy Foundation think tank, said practicing long-distance missions was important for China as they would be the "main combat mode" in any conflict. "They are expanding military deterrence actions to create a cognitive effect that Taiwan's national defences are useless," the official said. China routinely denounces U.S. military activity in the strait as provocation. "The Eastern Theatre Command are well seasoned, but it's the Southern Theatre Command that needs training for long-distance support," Su said.

Persons: Jason Lee, Chieh Chung, Han Kuang, Tsai Ing, Kevin McCarthy, Xi Jinping, Su Tzu, yun, Su, Yimou Lee, Roger Tung, Yew Lun Tian, Ben Blanchard, Robert Birsel Organizations: Chinese Air Force, REUTERS, Foundation, Taiwan, House, Eastern Theatre Command, U.S . Navy, Institute for National Defence and Security Research, Southern Theatre Command, Thomson Locations: Beijing, TAIPEI, Taiwan, Taipei, China, Philippines, Japan, Borneo, Los Angeles

Foxconn (2317.TW) withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem." India expects its semiconductor market to be worth $63 billion by 2026, but Modi's plan has so far floundered. The $3 billion ISMC project is stalled because Tower is being acquired by Intel, while another $3 billion plan by IGSS was also halted because it wanted to re-submit its application, Reuters has reported. Like Foxconn, the Indian government has said the breakup of the JV had "no impact" on India's semiconductor plans, adding that both companies were "valued investors" in the country.

Persons: India Foxconn, Foxconn, Narendra Modi's chipmaking, Modi, IGSS, Ann Wang, Vedanta, Anil Agarwal, Vedanta's, Yimou Lee, Ben Blanchard, Tanvi Mehta, Aditya Kalra, Jacqueline Wong, Sonali Paul, Alexander Smith Organizations: India, JV, Vedanta, TW, Semiconductors, IGSS Ventures, ISMC, Intel, Reuters, REUTERS, Vedanta's, Vedanta Ltd, Vedanta Resources, Thomson Locations: chipmaking, India, TAIPEI, MUMBAI, Singapore, New Taipei City, Taiwan, Vedanta's India, Vedanta's London, Taipei, Mumbai, New Delhi, Pandya, Bengaluru

☆ Foxconn eyes India chipmaking incentives after quitting $19.5 billion JV
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Foxconn remains committed to chipmaking in IndiaFoxconn seeks new partner for India chipmaking - sourceTAIPEI/NEW DELHI, July 11 (Reuters) - Taiwan's Foxconn (2317.TW) said on Tuesday it plans to apply for incentives that India is offering under its semiconductor manufacturing policy, a day after the company parted ways with Vedanta (VDAN.NS) on a $19.5 billion chipmaking joint venture. Foxconn withdrew from its semiconductor JV with Indian metals-to-oil conglomerate Vedanta on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. "Foxconn is working toward submitting an application," the company said in a statement. The Vedanta-Foxconn joint venture was among three applicants last year under the government's incentives plan. Explaining its breakup with Vedanta, Foxconn said on Tuesday "there was recognition from both sides that the project was not moving fast enough" and there were other "challenging gaps we were not able to smoothly overcome", without sharing more details.

Persons: India Foxconn, Foxconn, Narendra Modi's chipmaking, Modi, Vedanta, Yimou Lee, Ben Blanchard, Aditya Karla, Jacqueline Wong, Sonali Paul Organizations: India, Vedanta, Semiconductors, Vedanta Ltd, Thomson Locations: chipmaking, India, TAIPEI, DELHI, Taipei, Mumbai, New Delhi

☆ India, Foxconn's worries over Vedanta's financials led to JV pullout - sources
▼ + stars: | 2023-07-11 | by ( Yimou Lee | ) www.reuters.com time to read: +1 min

Indian conglomerate Vedanta Ltd's (VDAN.NS) London-based parent, Vedanta Resources, has been plagued by a rising debt pile. In a statement to Reuters, Vedanta said its Indian unit, Vedanta Ltd, is in "a comfortable financial position" and there was "no basis" to such speculation. Some ratings agencies downgraded Vedanta Resources this year amid concerns about risks of a debt default. There have been no defaults on debts from the group, Vedanta Chairman Anil Agarwal has said. Reporting by Yimouy Lee; Additional reporting by Aditya Kalra and Munsif V; Editing by Himani Sarkar and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Vedanta, Anil Agarwal, Yimouy Lee, Aditya Kalra, Himani Sarkar, Emelia Organizations: Reuters, Vedanta, Vedanta Resources, Vedanta Ltd, Thomson Locations: TAIPEI, London

☆ China aims to sap Taiwan morale with 'escape plan' misinformation, sources say
▼ + stars: | 2023-07-07 | by ( Yimou Lee | ) www.reuters.com time to read: +4 min

TAIPEI, July 7 (Reuters) - China has launched a misinformation campaign that includes news reports Taiwan's president has an "escape plan" in the event of a Chinese invasion, aiming to sap morale as Beijing presses the island to accept its sovereignty, Taiwan officials said. China's Taiwan Affairs Office did not respond to a request for comment. The officials said the Chinese campaign was overseen by Beijing's Central Leading Group for Taiwan Affairs, which is chaired by President Xi Jinping, and carried out by various government units including the Taiwan Affairs Office in Beijing. "They want to sell fear," said one of the sources, a senior official familiar with Taiwan's security planning. Reporting By Yimou Lee; Additional reporting by Ben Blanchard; Editing by Rob BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Han Kuang, Tsai Ing, Xi Jinping, Yimou Lee, Ben Blanchard, Rob Birsel Organizations: Reuters, Taiwan Affairs Office, Taiwan, U.S, China's Taiwan Affairs Office, Beijing's Central, Group, Taiwan Affairs, Affairs Office, People's Liberation Army, Thomson Locations: TAIPEI, China, Beijing, Taiwan, United States, Taipei, Hong Kong, U.S, Pacific

☆ China aims to sap Taiwan morale with 'escape plan' misinformation - sources
▼ + stars: | 2023-07-07 | by ( Yimou Lee | ) www.reuters.com time to read: +4 min

TAIPEI, July 7 (Reuters) - China has launched a misinformation campaign that includes news reports Taiwan's president has an "escape plan" in the event of a Chinese invasion, aiming to sap morale as Beijing presses the island to accept its sovereignty, Taiwan officials said. China's Taiwan Affairs Office did not respond to a request for comment. Some of the media reports were first published by online news sites run by China's Taiwan Affairs Office before appearing in media outlets in Taiwan and Hong Kong, according to the officials and a Reuters review of the reports. The officials said the Chinese campaign was overseen by Beijing's Central Leading Group for Taiwan Affairs, which is chaired by President Xi Jinping, and carried out by various government units including the Taiwan Affairs Office in Beijing. "They want to sell fear," said one of the sources, a senior official familiar with Taiwan's security planning.

☆ Foxconn chairman holds talks with Sharp employees in Japan after profit slump
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, July 6 (Reuters) - Foxconn Chairman Liu Young-way held talks with senior and mid-level employees at Japan's Sharp (6753.T) this week and discussed topics including the relationship between the two companies, the Japanese electronics maker said Thursday. Foxconn (2317.TW), the world's largest contract electronics maker, reported a 56% plunge in first-quarter net profit, due to a T$17.3 billion ($553 million) writedown related to its 34% stake in Japanese electronics maker Sharp. During the meetings, which were attended by more than 100 employees, Liu talked about issues including the companies' relationship, Sharp's global positioning and the future of the Japanese company, Sharp said in a statement. Sharp reported in May a full-year loss of $1.9 billion after writing down the value of its panel display business and a swathe of other assets. Following the Japanese company's first net loss in six years, Liu said he would work harder on the management of Sharp but did not offer details.

Persons: Liu Young, Sharp, Foxconn, Liu, Hai's, Yimou Lee, Kiyoshi Takenaka, Anne Marie Roantree, Himani Sarkar, Tom Hogue, Kim Coghill Organizations: Hai Precision Industry, Thomson Locations: TAIPEI, Taiwan, Taipei, Tokyo

☆ Taiwan says 8 Chinese aircraft crossed Taiwan Strait median line
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, July 4 (Reuters) - Eight Chinese aircraft crossed the median line of the Taiwan Strait on Tuesday morning, Taiwan's defence ministry said, as China ramps up military pressure on the democratic island. Taiwan, which China claims as its own territory despite the island's strong objections, has faced in recent years almost daily missions by Chinese military aircraft, often in the southwestern part of the island's air defence identification zone. A total of 24 Chinese warplanes, including fighter jets and bombers, were spotted near Taiwan on Tuesday morning starting at about 8 a.m. (0000 GMT), the defence ministry said, adding four Chinese warships also joined a "joint combat readiness patrol". Taiwan sent aircraft and ships to warn away the Chinese, while missile systems monitored them, the ministry said, using standard wording for its response. In a statement, the ministry said it is the joint responsibility for all parties in the region to maintain safety and stability.

Persons: Tsai Ing, Taiwan's, Yimou Lee, Christopher Cushing, Gerry Doyle Organizations: Tuesday, U.S . House, Representatives, Thomson Locations: TAIPEI, Taiwan Strait, China, Taiwan

☆ Taiwan says 11 Chinese aircraft crossed the Taiwan Strait median line
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, June 30 (Reuters) - Eleven Chinese aircraft crossed the median line of the Taiwan Strait on Friday morning, an unofficial barrier between the two sides, Taiwan's defence ministry said, as China ramps up military pressure on the democratic island. Taiwan, which China claims as its own territory despite the island's objections, has complained in recent years of almost daily missions by the Chinese air force, often in the southwestern part of its air defence identification zone. A total of 24 Chinese war planes including fighter jets and bombers were spotted near Taiwan on Friday morning from around 8 a.m. (00:00 GMT), the defence ministry said, adding five Chinese battleships also joined a "joint war readiness patrol." Taiwan sent aircraft and ships to warn away the Chinese activities, while missile systems monitored them, the ministry said, using standard wording for its response. Taiwan's government strongly objects to China's sovereignty claims and vows to defend itself if China attacks the island.

Persons: Mike Rogers, Tsai Ing, Taiwan's, Yimou Lee, Ben Blanchard, Shri Navaratnam Organizations: Reuters, U.S, Armed, U.S . House, Representatives, The U.S . State Department, Thomson Locations: TAIPEI, Taiwan Strait, China, Taiwan, Taipei, The, Lincoln

☆ Exclusive: Taiwan on alert for Chinese-funded election interference
▼ + stars: | 2023-06-21 | by ( Yimou Lee | ) www.reuters.com time to read: +5 min

"They hope to influence Taiwanese people by reaching out to the grassroots," said one Taiwan security official with direct knowledge of the matter. "They hope to influence swing voters who don't have particular political affiliation and would vote for whoever gives them benefits." It is illegal under Taiwanese law for an election campaign to receive money from "external hostile forces," including China. The report said the underground banking systems in Taiwan, which are widely known but difficult to regulate, could provide foreign exchange support. Some Taiwanese have been prosecuted in recent years over receiving illicit support from China in election campaigns.

Persons: Tsai Ing, China's, Wellington Koo, Tsai, Yimou Lee, Gerry Doyle Organizations: Reuters, National Security Council, Chinese Communist Party, Taiwan Affairs Office, Democratic Progressive Party, Mainland Affairs Council, Thomson Locations: TAIPEI, China, Beijing, Taiwan, Wellington, New Taipei City

[1/3] Nvidia Corp CEO Jensen Huang speaks at the COMPUTEX forum in Taipei, Taiwan May 29, 2023. Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic processing unit chiplet and Nvidia software into the system-on-chips it supplies to automakers for infotainment displays. MediaTek systems using Nvidia software would be compatible with automated driving systems based on Nvidia technology, the companies said. The partnership with MediaTek gives Nvidia wider access to the $12 billion market for infotainment system-on-chips, the companies said. MediaTek, which has its base in the Android smartphone chip sector, sells its Dimensity Auto technology to lower-priced, mass market vehicle lines, and has strengths in mobile connectivity and Android systems.

☆ 'War is not an option', Taiwan president says amid China tensions
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, May 20 (Reuters) - Taiwan's President Tsai Ing-wen vowed on Saturday to maintain the status quo of peace and stability across the Taiwan Strait amid high tensions with China, which has stepped up military pressure on the democratically governed island. Taiwan will not provoke and will not bow to Chinese pressure, Tsai said in a speech in the presidential office in Taipei marking the seventh anniversary of her governance. Neither side can unilaterally change the status quo with non-peaceful means," Tsai said. "Maintaining the status quo of peace and stability is the consensus for both the world and Taiwan." Taiwan is gearing up for a key presidential election in mid-January, with China tensions set to top the campaign agenda.

TAIPEI, May 17 (Reuters) - Taiwan's main opposition Kuomintang (KMT) party will pick New Taipei City mayor Hou Yu-ih to be its presidential candidate in the election next year, a senior party source told Reuters on Wednesday, with China tensions set to top the election agenda. The KMT favours close ties with China while the ruling Democratic Progressive Party (DPP) champions Taiwan's separate identity. The senior party source said the KMT will announce Hou as the presidential candidate later on Wednesday. A second party source said Hou is widely expected within the party to become the candidate. He has vowed to defend the Republic of China, Taiwan's official name, if it was attacked.

☆ Foxconn's April sales fall 12% on slowing smartphone business
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

Foxconn said revenue last month reached T$429.2 billion ($14 billion), in line with the company's own expectations. For smart consumer electronics products, which include smartphones and are the company's main business driver, revenue in April declined as it entered the "traditional slow season", the company said in a statement, without elaborating. The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple (AAPL.O) launch new products near the year-end holiday season. Apple results for the quarter ended April 1 beat expectations on Thursday, thanks to better-than-expected iPhone sales and inroads in India and other newer markets. The company in March predicted revenue for the full year to be flat, with weak demand for consumer electronics offset by growth in computing, cloud, networking and component products.

read moreTSMC forecast revenue of $15.2 billion to $16 billion in the quarter ending June 30, down from $18.16 billion a year prior. TSMC, Asia's most valuable listed company, said first-quarter revenue dropped 4.8% year-on-year, in line with the company's previous forecast. Net revenue from China grew to 15% from 12%, while net revenue from North America fell to 63% from 69%. read moreThe chipmaker forecast 2023 capital expenditure of $32-36 billion, unchanged from a previous estimate. CEO Wei said TSMC was evaluating the possibility of building a speciality fabrication plant in Europe for auto chips.

☆ China to ban vessels from area near Taiwan over rocket debris
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Jameson Wu/File PhotoBEIJING, April 13 (Reuters) - China will ban vessels from an area near Taiwan on Sunday because of the possibility of falling rocket debris, its maritime safety agency said on Thursday, as Japan sought details from Beijing on a reported no-fly zone in the same location. China has not commented on the no-fly zone but South Korea, which was also briefed on the plans, said it was due to a falling object related to a launch vehicle. China regards Taiwan as its own territory and objects to any interactions between the Taiwanese leadership and foreign officials. The coordinates correspond to a rectangular area to Taiwan's northeast, with the closest point 118 km (73 miles) from Taiwan, illustrated on a map that Taiwan's transport ministry released late on Wednesday. China's foreign ministry declined to comment.

☆ Taiwan says China's no-fly zone will affect around 33 flights
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 13 (Reuters) - China's plan to set up a no-fly zone to the north of Taiwan on April 16 will affect about 33 flights, Taiwan's official Central News Agency (CNA) reported, citing the island's transport minister, Wang Kwo-tsai. The impact on flights was greatly reduced after Taiwan said it had successfully urged China to drastically narrow its plan to close air space north of the island, Wang was reported as saying. Reuters first reported that Beijing had initially notified Taipei it would impose a no-fly zone from April 16-18, but Taiwan's transport ministry said this was later reduced to a period of just 27 minutes on Sunday morning after it protested. Taiwan's transport ministry on Wednesday published a map showing what it labelled China's "aerospace activity zone" to the northeast of Taiwan and near a group of disputed islets called Diaoyu by China and Senkaku by Japan. Reporting By Yimou Lee and Ben Blanchard; Editing by Jacqueline Wong & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Taiwan says 14 Chinese air force planes crossed Taiwan Strait median line
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, April 12 (Reuters) - Taiwan's defence ministry said on Wednesday that in the past 24 hours 14 Chinese air force planes crossed the Taiwan Strait's median line, which normally serves as an unofficial barrier between the two sides. Reporting by Ben Blanchard and Yimou Lee Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ China to close airspace north of Taiwan April 16-18, sources say
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - China is planning to close the airspace north of Taiwan from April 16 to 18, four sources with knowledge of the matter said, a move that could disrupt flights around the region. China and Taiwan's foreign ministries did not immediately respond to requests for comment. It comes as China rounds off several days of military training around self-ruled Taiwan, a response to Taiwan President Tsai Ing-wen's recent meeting with U.S. House Speaker Kevin McCarthy in California which infuriated Beijing. One senior official with direct knowledge of the matter said the flight ban would affect 60%-70% of flights going between Northeast Asia and Southeast Asia, as well as flights between Taiwan and South Korea, Japan and North America. Reporting by Yimou Lee in Taipei and Sakura Murakami and Tim Kelly in Tokyo; Editing by Jacqueline Wong and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

BEIJING/TAIPEI, April 11 (Reuters) - China's latest military drills near Taiwan show it is serious about being able to cut off the democratically ruled island in a conflict, analysts said, as Beijing said its aircraft carriers could "shatter" defences from the east. 1) Carrier OperationsMany analysts noted the jets flying off the Shandong aircraft carrier, which took up position east of Taiwan, about 230 kilometres (143 miles) south of Japan's Miyajima island. The aim of the drills was to show that they could encircle Taiwan in a blockade and deter foreign powers from intervening, Zhao said. 3) Precision TargetingThe PLA also said it carried out virtual simulations showing how its forces could execute targeted missile attacks on Taiwan. Japan's military said in a briefing on Tuesday that it was assessing China's manoeuvres around Taiwan, but described them as "without question, serious training".

[1/5] Alec Hsu shows to the camera patches depicting a Formosan black bear holding Taiwan’s flag and punching Winnie the Pooh at his store in Taoyuan, Taiwan April 10, 2023. The patch shows an angry Formosan black bear holding Taiwan's flag and punching Winnie the Pooh, with the slogan "Scramble!" The endangered Formosan black bear is seen as a symbol of Taiwanese identity. China claims democratically governed Taiwan as its own territory and has not ruled out taking the island by force. While the Winnie the Pooh patch cannot be found on Chinese social media, Beijing has also been promoting videos and commentary about its drills around Taiwan.

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