Wed, Jan 17, 2007 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ Stocks mostly static

Shares closed little changed yesterday, with lingering concerns about the financially troubled Rebar Asia Pacific Group (力霸亞太企業集團) offsetting early gains, dealers said.

Trading turnover dropped, indicating that investors were reluctant to take aggressive positions after Monday's technical recovery, they said.

The TAIEX closed up 8.58 points or 0.11 percent at 7,792.08, on turnover of NT$105.62 billion (US$3.22 billion).

The NT dollar lost NT$0.018 against the US dollar to close at NT$32.775 on the Taipei Forex Inc. Turnover was US$689 million.

■ Fuel prices lowered

State-run Chinese Petroleum Corp (CPC, 中油) announced yesterday that it would lower the wholesale gasoline price by NT$0.6 per liter and the wholesale diesel price by NT$0.7 per liter. The new rates were effective from midnight yesterday, CPC said in a statement.

An hour after CPC's announcement, rival Formosa Petrochemical Corp (台塑石化) said it would match CPC's prices from 10pm yesterday.

■ Green Point accepts offer

The board of Green Point Enter-prises Co (綠點高新科技), a manufacturer of handsets, injection molds and plastic parts, announced yesterday that it had approved an acquisition offer from Jabil Circuit Inc, after the US electronics manufacturing service provider bought 260.88 million shares, or 97 percent of Green Point's outstanding shares.

Shares of Green Point closed down by 2.3 percent at NT$106 yesterday.

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