Thu, Nov 23, 2006 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ Share prices rise 0.53 percent

Share prices closed 0.53 percent higher on the back of rotational interest yesterday following a largely steady Wall Street overnight, dealers said.

The TAIEX closed up 39.08 points at 7,348.77, its highest close since May 11. Turnover was NT$108.43 billion (US$3.3 billion).

Risers led decliners 688 to 466, with 194 stocks unchanged.

■ Hua Nan opens Vietnam branch

Hua Nan Financial Holding Co (華南金控), the nation's eighth-largest financial holding company in terms of market value, announced yesterday that subsidiary Hua Nan Commercial Bank (華南商業銀行) has opened a branch in Ho Chi Minh City in Vietnam, the company said in a filing to the Taiwan Stock Exchange.

Hua Nan Commercial Bank is one of the Taiwanese institutions seeking to capitalize on the potential of the emerging market in Vietnam, which was recently approved as the 150th member of the WTO.

According to statistics released by the Financial Supervisory Commission, there are eight Taiwanese banks that have established or are setting up 12 branches or representative offices in Vietnam.

Eight of the branches are in Ho Chi Minh City and four are in Hanoi.

■ NT rises on foreign capital

The New Taiwan dollar rose against the US dollar yesterday, supported by strong foreign capital inflows and a firmer Japanese yen.

The local currency gained NT$0.061 to close at NT$32.812 on the Taipei Forex Inc on turnover of US$836 million.

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