TAIEX gains on US data
Taiwan share prices closed 0.47 percent higher yesterday as investors took their lead from Wall Street's stronger close on positive housing data and expectations the federal reserve will cut US interest rates later in the day, dealers said.
The index turned lower in midmorning trade due to pressure on bellwether technology stocks and domestic political uncertainty ahead of next month's parliamentary elections, they said.
The weighted index closed up 40.30 points at 8,638.33, off a high of 8,659.36 and a low of 8,569.54, on turnover of NT$86.23 billion (US$2.67 billion).
Mao Jen-chieh (毛仁傑), president of Pro Standard Capital Management Co Ltd, said advances in New York bolstered sentiment toward the local bourse.
In particular, "some old-economy stocks scored gains thanks to prospects of returns from their China operations." But "local suppliers of technology products were undermined by uncertainties about the consumption power of the major US end-market and the negative effect on demand for technology devices," he said.
Samsung to launch phones
Samsung Electronics Co yesterday said it planned to launch six new mobile phones in Taiwan by the year-end, aiming to secure its local market share at 15 percent. In total, the South Korean company would launch about 22 models this year.
The six new phones including one codenamed G608 that will be equipped with a high definition 5-megapixel camera, compared to the 2-megapixel cameras fitted with most phones now.
The phone is set to hit the local stores next week. Samsung also planned to launch the much-awaited handset it worked with fashion designer Giorgio Armarni in the first quarter in Taiwan.
Toshiba delays OEL TVs
Toshiba Corp postponed plans to sell televisions using brighter and slimmer organic electroluminescent panels because of production and demand concerns.
The Tokyo-based company had planned to start selling 76cm OEL televisions in fiscal 2009, Toshiba spokesman Keisuke Ohmori said. He declined say when sales might begin.
"We are delaying the start of sales because of various issues related to mass production technology and market trends," he said, without further explanation. Toshiba, Sony Corp and Canon Inc are looking to OEL televisions as consumer preference shifts to thinner sets.
Higher production costs and difficulties associated with making large- size OEL screens will likely crimp growth in the market, according to industry researcher ISuppli Corp.
Hyundai ready for boost in US
Hyundai Motor Co, South Korea's largest automaker, plans to make full use of its US factory next year as it expects higher demand for the redesigned Sonata midsize sedan.
Hyundai Motor plans to produce 300,000 Sonata sedans and Santa Fe sport-utility vehicles at its plant in Montgomery, Alabama next year, company spokesman Jake Jang said yesterday.
Hyundai Motor produced 237,000 units at the factory in the first 11 months of this year and expects to build about 250,000 by year-end, it said.
Hyundai idled its US factory for the first time since it opened in 2005, for a total of 10 days from October through this month. The Seoul-based automaker is betting on the introduction of a new Sonata model to boost sales next year.
"As we'll begin making the revamped Sonata from January in Alabama, we'll be able to make full use of the assembly lines," Jang said. "There won't be further idling of the factory next year.
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