Wed, Nov 29, 2006 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ TAIEX rally hits a snag

Shares snapped a winning streak yesterday by falling slightly after Wall Street's overnight slide.

The TAIEX dropped 53.21 points, or 0.71 percent, to 7,444.94, its first decline after gaining 5.1 percent over 10 sessions.

The fall followed Wall Street's worst day in more than four months. Overnight, the Dow Jones Industrial Average lost 158.46 points, or 1.29 percent, to 12,121.71.

Turnover was NT$113.48 billion (US$3.47 billion). Decliners led risers 822 to 390, with 160 stocks unchanged.

■ CPC hikes prices

State-run Chinese Petroleum Corp (CPC, 中油) announced yesterday that it was raising wholesale gasoline prices by NT$1.1 per liter and diesel prices by NT$1.2 per liter effective midnight.

The adjusted retail price for 98-octane unleaded gasoline is NT$28.7, 95-octane unleaded gasoline is NT$27.2, 92-octane unleaded gasoline is NT$26.5 and top-grade diesel oil is NT$23.3 per liter, CPC said in a statement.

The adjusted range is calculated by the price change of the West Texas Intermediate crude over the past week in New York trade, which rose 7.3 percent from the previous week, CPC said.

CPC has adopted the floating price adjustment measure for 10 weeks to reflect oil costs.

■ NT dollar gains strength

The New Taiwan dollar rose NT$0.029 to close at NT$32.675 on the Taipei Forex Inc yesterday on continued foreign fund inflows.

Turnover was US$906 million.

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