Thu, May 25, 2006 - Page 11 News List

Business Briefs

AGENCIES

■ TAIEX rebounds

Shares rose yesterday as non-technology companies led a rebound from the market's five-week closing low in the previous session. The TAIEX rose 33.03 points, or 0.49 percent, to 6,877.01. Turnover was NT$129.07 billion (US$4.02 billion). Risers led decliners 440 to 349, with 108 stocks unchanged. Traders said government funds probably intervened when the market index threatened to continue its decline of the previous days. On the Taipei foreign exchange market, the New Taiwan dollar closed at NT$32.012 against its US counterpart, falling NT$0.020 from a previous close of NT$31.992.

■ BenQ to sell Darfon shares

BenQ Corp (明基) said yesterday that it plans to sell 7.5 million Darfon Electronics Corp (達方電子) shares worth NT$1.3 billion. BenQ, which intends to sell the shares at NT$150 each, will make a gain on its investment of NT$980 million, it said in a statement. The plan was approved by the company's board on Tuesday. Unlisted, Taoyuan-based Darfon Electronics makes telecommunication components and precision devices such as keyboards.

■ China Steel costs to rise

Companhia Vale do Rio Doce, the world's largest iron ore exporter, won a 19 percent increase in prices from China Steel Corp (中鋼). The increase applies to Carajas and Southern System fines, the company said in a statement. Vale and Australian rivals BHP Billiton and Rio Tinto Group remain locked in talks with China's steelmakers over annual contract prices.

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