Share prices decline
Share prices closed 0.21 percent lower yesterday, ending a three-day rally as investors took advantage of Wall Street's overnight gains and continued foreign investor interest to book some profits, dealers said
They said there was some concern that the rally had failed to get past the 5,900 points level and this could mean the market may now slip back again.
The TAIEX was down 12.36 points at 5,858.01, on turnover of NT$76.60 billion (US$2.28 billion).
Taisugar to return to Indonesia
After a hiatus of more than 30 years, state-run Taiwan Sugar Corp (Taisugar, 台糖) is set to stage a comeback in Indonesia with its high-quality products, a company spokesman said yesterday.
Although Taisugar has decided to export only 10,000 metric tons of its brown sugar to Indonesia, the spokesman said the deal is quite profitable and that the company will seek to increase its exports now that it no longer needs to assume the responsibility of stabilizing the domestic market, which was de-regulated in February this year.
As sugar prices in the world market have jumped in recent years as a result of stronger global demand, Taisugar has now readied itself to break into foreign markets again, he said.
NT dollar declines further
The New Taiwan dollar continued losing ground against its US counterpart, declining NT$0.035 to close at NT$33.622 on the Taipei foreign exchange market. Turnover was US$626 million.
RSS