■ TAIEX reverses fall
Shares rose yesterday in a correction after their sharp falls on Wednesday, helped by a rebound in Japanese stocks. The TAIEX rose 13.37 points, or 0.2 percent, to 6,512.29 after falling 3.2 percent on Wednesday. "Investors came back today as Japan's shares stabilized, and as stocks [looked] relatively inexpensive after their heavy falls yesterday," said Diana Wu, a trader at Capital Securities Corp (群益證券). President Chen Shui-bian's (陳水扁) appointment of former chairman of the ruling Democratic Progressive Party Su Tseng-chang (蘇貞昌) as the next premier had no effect on the market, traders said. But investors were cautious about further gains before the weeklong Chinese New Year holiday, which begins Jan. 28, and seemed ready to off-load some of their holdings when the market strengthens, they added.
■ BenQ to tap Singapore market
BenQ Corp (明基), which completed the takeover of Siemens AG's unprofitable handset unit in September, said it will enter Singapore's mobile-phone market this year. "BenQ Mobile will announce its entry into the Singapore market with an exciting line-up of at least 20 new mobile phones to be launched this year,'' the company said in a statement yesterday. BenQ will unveil its products under the new BenQ-Siemens brand in Singapore today.
■ NT dollar slips further
The NT dollar remained weak against its US counterpart, falling NT$0.015 to close at NT$32.140 on the Taipei foreign exchange market. Turnover was US$905 million.