Thu, Nov 30, 2006 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ Shares up 0.39 percent

Shares closed 0.39 percent higher yesterday, although profit-taking placed a lid on early gains inspired by the modest advance on Wall Street overnight, dealers said.

The TAIEX closed up 29.25 points at 7,474.19, on turnover of NT$125.01 billion (US$3.85 billion).

Decliners led advancers 657 to 528, with 191 stocks unchanged.

■ Formosa raises gas price

Formosa Petrochemical Corp (台塑石化), the nation's second-biggest fuel supplier, raised gasoline and diesel prices for the first time in three weeks, matching a move by larger rival Chinese Petroleum Corp (中油).

Domestic wholesale gasoline prices increased NT$1.1 a liter, and those of diesel NT$1.2, effective 9am, Formosa Petrochemical said in a statement.

■ NT dollar up on stock purchases

The New Taiwan dollar climbed to a more than three-month high yesterday, as overseas investors boosted purchases of the nation's stocks, traders said.

The NT dollar rose NT$0.175 to close at NT$32.5 against the US dollar on the Taipei Forex Inc. Turnover was US$1.303 billion.

Commenting on the strengthening NT dollar, central bank governor Perng Fai-nan (彭淮南) said that the local unit was influenced by the broad decline in the US dollar and backed by continued foreign capital inflows for Taiwan's stocks.

Twelve of the 15 most actively traded Asia-Pacific currencies climbed also against the US dollar yesterday, spurred by gains in the yen after a report showed that Japanese industrial production had unexpectedly risen last month.

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