It is imperative for the island to remain competitive as countries including the United States, Japan and South Korea offer billions to bolster their chip industries, the economy ministry said

Hong Kong's Hang Seng Index tumbled 2.7%, with its tech stocks slipping more than 5%. Mainland Chinese shares also declined, with blue chips falling 1.2%.

The move is an effort to bolster ASML's relations with customers like Samsung and SK Hynix in the face of new US chip sanctions against China

This was Yellen's first in-person conversation with a top Chinese economic official amid lingering tensions between Washington and Beijing

Taiwan, home to the world's largest contract chipmaker, TSMC, plays an outsized role in providing chips used in everything from cars to fighter jets

Foxconn and its Indonesian parter Indrika Energy is looking to make EV batteries with a Thai firm, possibly the state-run energy giant PTT.

"We're going to compete vigorously. But I'm not looking for conflict," US President Joe Biden said after meeting Xi on the sidelines of the G20 summit

Investor sentiment remained cautious after a top US central banker warned investors against getting carried away over one inflation number

Biden said there was a need for respect for freedom of navigation and overflight in the East and South China Seas; the US would "compete vigorously" but ensure that "competition does not veer into conflict"

India can continue buying as much Russian oil as it wants, provided it steers clear of Western insurance, finance and maritime services, US Treasury Secretary Janet Yellen has said.

Foxconn's India expansion is central to Apple's efforts to shift production away from Covid-hit China

US Customs has seized 1,053 shipments of solar panels between June, when the Uyghur Forced Labor Protection Act took effect, and October, forcing three top suppliers to stop shipments