TAIEX closes lower
Shares closed 0.88 percent lower yesterday as early gains on Wall Street's near record performance overnight were offset by profit-taking and political concerns, dealers said.
The TAIEX was down 61.15 points at 6,885.12, on turnover of NT$92.74 billion (US$2.81 billion).
Decliners led gainers 907 to 216, with 117 stocks unchanged.
Of these, Taiwan Semiconductor Manufacturing Co (台積電) remained steady at NT$60.90 after the company said it intended buying additional shares in Singapore-based Systems on Silicon Manufacturing Co Pte Ltd (SSMC) from EDB Investments Pte Ltd.
CCI falls to lowest level in years
The consumer confidence index (CCI) this month edged down by 0.17 percentage points to 67.5 from 67.67 recorded last month, dipping to its lowest level since December 2001, according to a survey released by National Central University yesterday.
The monthly survey gauges the public's expectations on stock performance, household finances, durable goods, job opportunities, consumer price fluctuations and the economic outlook over the next six months.
People's increasing concerns about consumer prices and household finances are also reflected in this month's consumer confidence report, which has also dropped to its lowest level since 2001, the university's Research Center for Taiwan Economic Development said in the report.
Consumers expressed their biggest worries were about stock trading as 64.4 percent of the respondents said they prefer to stay on the sidelines for the near future and only 30.1 percent remain bullish.
The survey interviewed 2,685 people between Sept. 17 and 20 with a margin of error of 1.9 percentage points.
Taiwan, PRC trade increases
Trade between Taiwan and China in the seven months to July rose 15.7 percent year-on-year to US$48.61 billion on the back of China's strong demand for electronics parts, the Bureau of Foreign Trade said yesterday.
The figure accounted for 20.1 percent of Taiwan's total external trade during the period, compared with 19.6 percent a year earlier, the bureau said, citing statistics compiled in Taiwan and Hong Kong, where most of the goods are transshipped.
For the January-July period, Taiwan registered a trade surplus with China of US$21.35 billion, up 9.3 percent as exports rose 13.6 percent to US$34.98 billion and imports were up 21.2 percent to US$13.63 billion.
In July, Taiwan shipped US$5.42 billion worth of products to China.
"As the mainland continues to play a vital role as the world factory of electronics products, its demand for parts and components, like integrated circuits, flat panels and printed circuit boards also rose," said an official at the bureau.
CAL announces new service
Taiwan's leading carrier China Airlines Ltd (CAL, 華航) said yesterday it will launch three Taipei-Phnom Penh passenger flights weekly starting on Nov. 4.
The Cambodian capital will be the CAL's 66th destination worldwide and its 13th destination in Southeast Asia, the company said in a statement.
Meanwhile, CAL chairman Philip Wei (魏幸雄) has been selected for a Lifelong Achievement Award by Air Cargo News UK, making him the first person in Asia to win the honor, the carrier said.
NT dollar falls again
The New Taiwan dollar remained weak against its US counterpart yesterday, declining NT$0.034 to close at NT$32.992 on the Taipei foreign exchange market.
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