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■ Shares fall on profit-taking
Shares fell yesterday after investors pocketed gains in financial stocks, which had risen in the previous session on hopes of consolidation in the sector. The TAIEX closed down 54.29 points, or 0.8 percent, to 6,366.16, on turnover of NT$103.60 billion (US$3.26 billion). The financial subindex ended 1.2 percent lower yesterday, following a 1.8 percent rise in the last session, as dealers said that the positive effect of Taishin Financial Holding Co's (台新金控) generous bid last week for a controlling stake in Chang Hwa Commercial Bank (彰化銀行) was seen to have been priced in. Shares in Chang Hwa were off 2.8 percent at NT$19.35 after Monday's 7 percent rally, while Taishin Financial ended 0.2 percent higher at NT$26.60.

■ Chunghwa sets high goal
Chunghwa Telecom Co (中華電信) said yesterday it aims to attract 100,000 subscribers to its third-generation (3G) telecom services by the end of the year. "The goal is definitely an attainable one," said Shih Mu-piao (石木標), vice president of the company's mobile business group. "We are confident of exceeding it, if we work hard enough." The state-controlled Chunghwa Telecom is scheduled to launch its 3G services later on Tuesday. "Our goal is quite realistic, if one compares it with our competitors. Taiwan Mobile (台灣大哥大), for instance, also aims for 100,000 subscribers by year-end," he added. Taiwan Mobile Corp introduced its 3G services, though on a limited scale, in May and expects to complete its 3G network by the end of the year; its 3G relay stations now cover metropolitan areas around Taipei, Taichung and Kaohsiung, and the Hsinchu Science-based Industrial Park (新竹科學園區). Earlier this month, Far EasTone Telecommunications Co (遠傳電信) launched 3G multimedia services using the WCDMA (Wideband Code Division Multiple Access) network. Its target is to attract 50,000 3G customers by the end of this year.

■ Formosa Plastics offers futures
Formosa Plastics Corp (台塑) and Hungary's Tiszai Vegyi Kombinat Rt will sell plastics through the London Metal Exchange, which started offering plastics futures in May. The two companies were approved by the exchange to sell their polypropylene, which is used in car fenders and textiles, the exchange said yesterday in an e-mailed note to member companies.

■ Tom Group may drop bid
Hong Kong billionaire Li Ka-shing's (李嘉誠) Tom Group Ltd may drop its bid to buy Taiwan Broadband Communications Co (台灣寬頻) from Carlyle Group Inc due to disagreements on its price, a Chinese-language newspaper reported, without saying where it obtained the information. Tom Group formed a consortium with China Development Financial Holding Corp (中華開發) to bid for Taiwan Broadband at NT$22 billion (US$693 million), compared with Carlyle's asking price of NT$24 billion, the report said. Carlyle is the majority shareholder of the company, the report said. Taiwan Fixed Network Ltd (台灣固網) offered to buy Taiwan Broadband at NT$20 billion, the newspaper said. Taiwan Fixed Network is an affiliate of Taiwan Mobile Corp (台灣大哥大), the nation's second-largest mobile-phone operator by subscribers.

■ NT dollar loses ground
The New Taiwan dollar continued losing ground against its US counterpart, declining NT$0.112 to close at NT$31.866 on the Taipei foreign exchange market. Turnover was US$828 million, up from US$780 million the previous day.

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