Wed, Oct 04, 2006 - Page 11 News List

Business Briefs

AGENCIES

■ Shares prices stable

Share prices closed mostly unchanged yesterday as investors looked ahead to extended national holidays beginning on Friday, dealers said.

The TAIEX slipped 4.07 points to 6,956.88 yesterday, on turnover of NT$75.95 billion (US$2.30 billion).Risers led decliners 340 to 253, with 141 stocks unchanged.

The stock market will be closed on Friday and next Monday and Tuesday, and resuming trade next Wednesday. An extra session will be added on Saturday, Oct. 14.

"Rangebound consolidation is likely to remain the pattern over the remainder of the week," said Jih Sun Securities Investment (日盛投顧) deputy manager Wilson Lien.

■ CPC leaves prices unchanged

State-run Chinese Petroleum Corp (CPC, 中油) left domestic gasoline and diesel prices unchanged in the first week of a new system that pegs charges to crude oil costs.

The refiner decided not to raise prices because benchmark West Texas intermediate crude climbed 0.4 percent over the past week in New York trade, translating to gains of less than NT$0.1 for gasoline and diesel, CPC said on its Web site yesterday. NT$0.1 is the minimum price change the company has set.

CPC now links domestic gasoline and diesel prices to the level crude oil trades at in New York, and adjusts prices once a week.

■ NT dollar strengthens

The New Taiwan dollar strength-ened against the US dollar yesterday, rising NT$0.072 to NT$33.055 on the foreign exchange market. Turnover was US$585 million.

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