TAIEX closes down 0.84%
Taiwanese shares closed down 0.84 percent yesterday as fears of a capital outflow hit large-cap financial and technology stocks, dealers said.
A recent steep decline in the value of the local currency stoked fears of an exodus of foreign investment from the market, dealers added.
The weighted index closed down 74.23 points at 8,792.39 on turnover of NT$131.53 billion (US$4.27 billion).
Decliners outnumbered advancers 1,568 to 773, with 322 stocks were unchanged. A total of 25 stocks closed limit-up, while 19 were limit-down.
For the week to May 9, the weighted index close down 171.24 points or 1.91 percent after a 0.18 percent increase a week earlier. Average daily turnover stood at US$NT142.84 billion, compared with NT$154.90 billion a week ago.
Yangming to expand fleet
Yangming Marine Transport Corp (陽明海運) plans to expand its fleet from the current 96 vessels to at least 125 by the year 2012, Yangming said yesterday.
“We have placed orders to build new ships and have signed lease contracts in order to expand and improve service, including launching new Far East-Europe/US routes,” a Yangming press officer said, asking not to be named.
Yangming, one of the world’s top container shipping lines, currently has 96 vessels — 87 container ships and nine bulk carriers.
Yangming has placed orders with CSBC Corp, Taiwan (台灣國際造船), to build 17 ships, mostly container vessels. Of these, 10 will be container ships, from 4,250-82,000 TEUs (20-foot equivalent unit) and will be delivered this year and the rest delivered before 2012.
Group seeks Taiwan partners
China’s Xiamen International Airport Group Co (廈門國際航空港集團) said yesterday it was eyeing partnerships with Taiwan carriers amid hopes the two sides would soon establish regular weekly flights.
The airport, located in southeast China’s Fujian Province just across from Taiwan, is looking at various options, including transforming itself into an air cargo hub for flights to Taiwan, an executive told AFP.
It has not yet entered into concrete negotiations with air companies from Taiwan, said the executive, who declined to be named.
TSMC sales rise 6%
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said it posted sales of NT$28.86 billion (US$937 million) last month, up 6.4 percent from NT$27.13 billion in March.
Compared with the same month a year earlier, April sales rose 25.0 percent, the world’s largest contract maker of computer chips said.
In the first four months of the year, sales totaled NT$116.34 billion, up 32.2 percent from a year earlier, TSMC said.
Shows attract 908 buyers
Taiwan’s jointly held machine tool and robot shows attracted a total of 908 overseas buyers and 11,329 local buyers respectively, representing 28.6 percent growth and 51.5 percent growth year-on-year, the events’ organizers, Taiwan External Trade Development Council (TAITRA), announced yesterday.
Featuring 940 booths occupied by 219 local manufacturers and 70 international companies, the two shows’ booth occupancy rate grew by 11 percent from a year earlier.
The council said Asian buyers represented the largest group of buyers, capturing 62.47 percent of the total number of overseas buyers, adding that European buyers ranked second place, representing 15.25 percent of the total turnout.