■ Five agencies to be merged
The Financial Supervisory Com-mission (FSC) said yesterday that the government will merge the Taiwan Stock Exchange, Taiwan Futures Exchange, Gretai Securities Market, Taiwan Securities Central Depository and Debt Instruments Depository and Clearing into one company through share swaps by the end of this year. Details of the proposed five-in-one merger will be released in June with the merger expected to be finalized by year-end, FSC chairman Kong Jaw-sheng (龔照勝) said. The proposed merger is designed to help the local market catch up with the international trend and boost operational efficiency, Kong said. The merged entity will eventually be transformed into a holding company, Kong said, citing that South Korea, Singapore and Hong Kong have also adopted the holding company system to regulate their respective equities markets.
■ Sony to contract out cameras
Sony is in negotiations with a number of Taiwan manufacturers, including Premier Image Technol-ogy Corp (普立爾), as the Japanese company seeks to relocate some of its digital-camera production to Taiwan, the Jiji Press news agency reported yesterday. If the negotiations are successful, Sony could bring digital cameras made in Taiwan onto the market in the second half of the 2006 fiscal year, which begins on April 1, it said.
■ TAIEX down on profit-taking
Share prices closed 0.15 percent lower yesterday after Wall Street-driven gains gave way to profit-taking in late trade, dealers said. The TAIEX was down 10.28 points at 6,725.61, on turnover of NT$143.40 billion (US$4.47 billion).