Shares close down 2.4%
Taiwanese shares closed down 2.4 percent yesterday on uncertainty about China’s economy following the Olympic Games in Beijing, dealers said.
The weighted index lost 163.96 points at 6,813.40, off a high of 7,005.17 and low of 6,809.96, on turnover of NT$99.46 billion (US$3.24 billion).
Decliners outnumbered advancers 1,762 to 325, while 377 stocks were unchanged. A total of 11 stocks closed limit-up, while 134 were limit-down.
MAC downplays memo
The Mainland Affairs Council (MAC) yesterday expressed pessimism over the signing of a memorandum of understanding (MOU) with Beijing on the supervision of Chinese investment in local stock and futures markets.
Citing its complexity, MAC Vice Chairman Fu Don-cheng (傅棟成) said that he did not expect to see the MOU inked in the near future. Nor was he optimistic that the issue would be placed on the agenda of the next round of negotiations between both sides’ quasi-official agencies.
Fu made the remarks in response to MAC Chairwoman Lai Shin-yuan’s (賴幸媛) announcement on Thursday that the council would entrust the Straits Exchange Foundation to begin negotiations with China over signing the MOU after the government further loosened restrictions of cross-trait trade regulations.
Singfor buys land
Singfor Life Insurance Co (幸福人壽) paid Citibank Taiwan (花旗銀行) NT$3.389 billion (US$110.32 million) for a plot of land across from Taipei 101 late last month, the Chinese-language Economic Daily News reported yesterday.
The 1,093-ping (3,606.9m2) parcel of land was sold at NT$3.1 million per ping, the report said, adding that the deal would be Singfor’s biggest in recent years after gearing up to enter the local real estate market.
Citibank yesterday refused to confirm the closing price, citing ongoing negotiation details to be finalized by both parties.
Microsoft partners for training
In its effort to increase employee productivity in project management, Microsoft Taiwan yesterday partnered with Advanced Business Consulting Inc (長宏專案管理顧問) to provide MCTS (Microsoft Certified Technology Specialist) certification to management and supervisory personnel.
The difference between MCTS and PMP (Project Management Professional) certification is that “PMP teaches you the concepts of project management, while MCTS gives the project managers the tools to convey his/her ideas in concrete terms to staff members,” said Roger Chou (周龍鴻) chief executive officer at Advanced Business Consulting.
Moreover, original company training certification aids in job promotion and salary increases. Human resources firm 104 Corp said on average, obtaining a Microsoft licensed certification or the like can mean an increase in monthly salary of between NT$4,000 (US$130.30) and NT$10,000.
Foreign reserves drop
The nation’s foreign exchange reserves amounted to US$290.90 billion at the end of last month, down US$507 million from the previous month, the central bank said in an e-mailed statement released yesterday.
The central bank attributed the drop in foreign exchange reserves last month to the repatriation of foreign capital, the statement said.
NT dollar drops
The NT dollar lost ground against the US dollar on the Taipei Foreign Exchange Tuesday, declining NT$0.055 to close at NT$30.721.
The day’s trading reached US$1.06 billion.
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