Shares fall slightly
Shares fell slightly yesterday after US shares fell overnight on concerns about inflation and economic growth. The TAIEX fell 13.97 points, or 0.2 percent, to 6,081.84. The index lost 0.6 percent this week. Analysts said more rate hikes in the US could slow the economy and undermine demand for Taiwan's electronics products, weighing on profits of local companies.
Technology shares, which accounted for 81 percent of the day's trading value, ended 0.2 percent lower. Traders said the benchmark index will likely trade within the 5,900-6,100 range next week.
SPA seeks Taiwanese IT firms
SPA Computers Ltd, an Indian software company, said yesterday it looks forward to attract at least 10 Taiwanese IT firms to set up offshore design centers (ODCs) in Bangalore, India's software industry stronghold, in the coming year.
Through establishing ODCs in Bangalore, Taiwanese IT companies will be able to cut their research and development (R&D) costs while using Bangalore's rich software development resources to design highly sophisticated and competitive computer chips, said G.K. Pramod, country manager in Taiwan of SPA Computers.
SPA opened its Taiwan office four years ago and has emerged as the largest service provider for embedded software in Taiwan.
NT dollar gains ground
The New Taiwan dollar has gained ground against its US counterpart, rising NT$0.028 to close at NT$33.232 on the Taipei foreign exchange market. Turnover was US$646 million, up from US$620 million the previous day.
Agencies
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