Thu, Feb 05, 2009 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

Shares close up 0.39 percent

Shares edged up 0.39 percent yesterday as a recent uptrend was slowed by profit-taking, dealers said.

The weighted index rose 17.16 points to 4,389.97 on turnover of NT$61.50 billion (US$1.86 billion).

Gainers outnumbered losers 745 to 719, while 286 shares remained unchanged.

A total of 17 shares surged to their daily 7 percent ceiling, against 15 limit-down.

Food rose 3.56 percent, transport gained 0.84 percent and electronics were up 0.67 percent, while financial stocks were down 0.4 percent.

“Today’s rise reflects a slow-down, with investors unsure if the recent uptrend can persist,” said David Li (李衍磐) of Daiwa Securities SMBC-Cathay (大和國泰證券).

“Heavy profit-taking is likely to emerge for the rest of week,” he said.

Food giant Uni-President Enterprise (統一企業) soared 5.6 percent to NT$27.55 amid news that it was considering expanding into China’s dairy market.

PRC funds may help LCD firms

Chinese TV and handset makers including TCL Corp are expected to purchase up to NT$72.2 billion in liquid-crystal-display (LCD) panels from flat panel makers such as AU Optronics Corp (友達光電) and Chi Mei Optoelectronics Corp (奇美電子) this year, helped by Beijing’s economic stimulus package, a statement from the Ministry of Economic Affairs said yesterday.

They may buy more than 12 million LCD panels, mostly 26-inch and 22-inch screens, from Taiwanese suppliers to meet demand in remote areas of China, the ministry said in the statement.

As part of its economic stimulus package, Beijing plans to subsidize small-sized TV and mobile phone purchases for people living in the countryside, according to the statement.

Last month, AU Optronics and Chi Mei signed memorandums of understanding with nine Chinese TV makers to sell flat panels.

CAL to fly to Shizuoka

In tandem with the planned inauguration of Japan’s Shizuoka Airport on June 4, China Airlines (CAL, 華航) will operate four charter flights to the city in the first half of the month, starting that day, a CAL executive said yesterday.

CAL said Shizuoka Governor Yoshinobu Ishikawa had expressed his pleasure and appreciation on Tuesday over CAL’s decision to offer charter flights between the two cities on June 4, June 7, June 10 and June 13.

CAL and its affiliate, Mandarin Airlines (華信航空), are hoping to attract tourists to choose the new airport if they plan to visit Mount Fuji and nearby tourist spots.

CAL plans to operate at least two monthly charter flights to Shizuoka from July to pave the way for commercial fights, while Mandarin Airlines plans to provide charter flights between Taichung and Shizuoka from late June.

Cold weather damages crops

The cold weather before and during the Lunar New Year holiday caused losses of more than NT$67.83 million (US$2 million) to the agricultural sector, the Council of Agriculture said yesterday.

The amount included more than NT$51.11 million in crop damage and nearly NT$16.72 million in aquaculture damage.

Twenty percent of the crops on 509 hectares of farmland were lost — mainly bell fruit, tea, tangerines, bananas, pineapples, musk melons, rice and betel nuts in Hsinchu, Nantou, Kaohsiung and Pingtung counties.

NT dollar edges up

The New Taiwan dollar yesterday edged up NT$0.005 to trade at NT$33.670 against the US dollar on turnover of US$592 million.

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