Tue, Apr 03, 2007 - Page 11 News List

Business Briefs


■ Shares little changed

Taiwan share prices closed little changed yesterday, confined to a narrow range as Wall Street's mixed closing last Friday provided no clear lead for local investors, dealers said.

Gains in large-cap stocks because of laggard buying and expectations of industry recovery for select segments were offset by technical pressure on the rest of the market, they said.

The weighted index closed up 0.58 points or 0.01 percent at 7,884.99, off a low of 7,866.59 and a high of 7,931.99, on turnover of NT$115.04 billion (US$3.48 billion).

Kai Yuan Securities Investment Consultant (開元投顧) president Tom Tang (湯建源) said laggard interest drove large-cap stocks higher, with select stocks boosted by hopes of better industry prospects this quarter.

"Select wafer foundries, liquid crystal display panel firms and dynamic random access memory (DRAM) chipmakers scored gains on hopes of better industry performance in the current quarter."

■ DVD firms settle patent fight

Matsushita Electric Industrial Co, the world's largest consumer electronics maker, settled a DVD patent-infringement lawsuit with Taiwan's CMC Magnetics Corp (中環) and agreed to a cross-license agreement for 10 years.

Matsushita in July filed a lawsuit in the US court for California's Northern district regarding patents for rewritable discs, the Osaka-based company said in a faxed statement yesterday. Matsushita has been negotiating to license patents to CMC, the world's biggest maker of recordable DVD discs, since 2004.

"We are pleased that our intellectual property rights have been properly evaluated and this litigation was settled early to our mutual satisfaction," Yoshihisa Fukushima, director of corporate intellectual property at Matsushita, said in the statement. No financial terms were given in the statement.

CMC spokeswoman Andria Wong (翁雅貞) confirmed the settlement in a telephone interview. Wong declined to disclose the terms of the DVD license agreement.

■ Chunghwa closes limit up

Shares of Chunghwa Picture Tubes Ltd (中華映管), the nation's third-largest liquid-crystal-display maker that was forecast to report a record loss, surged after the company replaced its chairman.

The stock rose by the 7 percent daily limit to NT$6.77, the highest in almost three months, on the Taiwan Stock Exchange.

Frank Lin (林鎮弘) quit as chairman last week and was replaced by his half-brother Lin Wei-Shan (林蔚山), president of Tatung Co (大同), Chunghwa Picture's biggest shareholder and Taiwan's oldest home appliance maker. The former chairman resigned for "personal reasons" at a time when the company was forecast to report a record NT$13.5 billion group net loss for last year, according to the average analyst estimate compiled by Bloomberg.

■ Taiwan Lottery berated

The Ministry of Finance issued a strongly written statement yesterday, demanding that Taiwan Lottery Co (台灣彩券公司) replace its information team chief or even the firm's president over the constant system failures that have plagued its vending machines.

As many as 1,400 lottery distributors nationwide were affected by a four-hour computer crash yesterday afternoon.

Taiwan Lottery, the nation's exclusive Public Welfare Lottery operator, quickly apologized for the instability of its system.

■ NT loses on greenback

The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, decreasing NT$0.009 to close at NT$33.098.

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