Print

Mail

wiki links

Business Briefs

■ Local shares fall
Shares closed sharply lower, falling 1.48 percent yesterday as Wall Street's tumble overnight sparked jitters across the region, with investors worried that US sub-prime mortgage lenders' woes could spill over into the broader economy, dealers said.
The TAIEX lost 113.73 points at 7,570.27, on turnover of NT$106.50 billion (US$3.23 billion). Decliners led risers 934 to 239, with 134 stocks unchanged.

■ Relocation under evaluation
The relocation of two state-owned enterprises is still under assessment and they will not be moved south this year, Minister of Economic Affairs Steve Chen (陳瑞隆) said yesterday.
Chen said there is no timetable for relocating Taiwan Power Co (台電) and CPC Corp, Taiwan (台灣中油) -- the only two state-owned enterprises under the ministry's management that are headquartered in Taipei -- but that the move will be impossible this year. If the ministry decides to relocate, it will make the announcement at least a year in advance.

■ NT dollar weakens
The New Taiwan dollar weakened as a drop in the local stock index sparked concern there will be a capital outflow as overseas investors sell the nation's equities.
The NT dollar slipped NT$0.018 to close at NT$32.996 against the US currency on the Taipei Forex Inc.
Global fund managers offloaded a net NT$13.35 billion worth of Taiwanese shares yesterday.

This story has been viewed 1410 times.