■ NT dollar jumps
The New Taiwan dollar strengthened to its highest level in two-and-a-half months on speculation gains in the yen and won will reduce the need for the nation's central bank to sell its currency to maintain export competitiveness, analysts said. The local currency also advanced on speculation foreign investors will add to purchases of Taiwan's stocks, having been net buyers every working day bar one since Oct. 31, they added. The NT dollar rose NT$0.137 to NT$33.225 against its US counterpart, the strongest close since Sept. 30, according to Taipei Forex Inc. Fund managers outside of the island acquired a net US$5.4 billion of Taiwan's equities last month and added US$1.55 billion this month, according to stock exchange data.
■ Asahi to invest NT$20 billion
Asahi Glass Fine Techno Taiwan Co (旭硝子發殷科技) plans to invest NT$20 billion (US$600 million) to expand its production facilities in Taiwan, the Chinese-language Economic Daily News reported, citing the Industrial Development Bureau under the Ministry of Economic Affairs. The company will rent 16.2 acres of land at an industrial park in Yunlin County and build two furnaces to make glass substrate for large liquid crystal displays. The proposed investment is to meet rising demand for bigger flat-panel televisions, the newspaper said, adding that a ground-breaking ceremony is scheduled to be held on Dec. 20. Asahi Glass Fine Techno Taiwan, formed in 2000, is fully owned by Japan's Asahi Glass Co, Japan's largest glassmaker.
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