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[BUSINESS BRIEFS]

Shares rise amid profit-taking

Share prices closed 0.64 percent higher yesterday but profit-taking wiped out early gains, dealers said.

The TAIEX rose 41.01 points to 6,432.16 on turnover of NT$90.23 billion (US$2.75 billion).

Losers outnumbered gainers 1,231 to 840, while 214 stocks remained unchanged.

A total of 21 shares soared to their daily 7 percent limit, against 20 limit-down.

The market opened high but selling pressure then emerged on profit-taking as investors chose not to build up their portfolios, analysts said.

“The market was short of mainstreams today, and investors were reluctant to push up prices,” said Allen Lin of Concord Securities (康和證券).

Trade group wraps up trip

An ongoing trade mission to Eastern Europe is expected to pick up new orders worth at least US$14.99 million, the Taiwan External Trade Development Council (TAITRA, 外貿協會) said yesterday.

The delegation, which has visited Russia, Ukraine and Romania, is on the final leg of its tour in Bulgaria. It is expected to return to Taiwan on Friday.

On the first three stops, the mission took orders totaling US$1.95 million, TAITRA officials said, adding that more orders worth US$13.03 million are expected in the coming year from the three countries.

More than 30 Taiwanese suppliers took part in the mission, representing hardware products, hand tools, automotive and motorcycle parts and accessories, computer peripherals, industrial machinery, plastic and rubber raw materials and products, textiles and housewares.

Science park inks Spain deal

The Central Taiwan Science Park (中部科學園區) and Spain’s Murcia Science Park inked a letter of intent of cooperation on Monday.

Central Taiwan Science Park Administration director-general Yang Wen-ke (楊文科) and Murcia Science Park Foundation executive director Francisco Vidal signed the pact and promised to increase cooperation to promote scientific progress and industrial competitiveness.

Yang said that the Murcia park is the eighth international park to establish sisterhood relations with his park, and the first one from Europe, signifying a big stride forward for his administration’s efforts to connect with the international community.

DeNoma named bank chair

The board of Chinatrust Financial Holding Co (中信金控) appointed Michael DeNoma as chairman of its banking subsidiary Chinatrust Commercial Bank (中國信託商銀) yesterday.

DeNoma, 53, was chief executive officer of global consumer banking and a group executive director at Standard Chartered Plc, and has an extensive background in merger and acquisition activities, the company said in a press statement.

He participated in Standard Chartered’s acquisitions of Korea First Bank in 2005 and Hsinchu International Commercial Bank (新竹國際商業銀行) in 2006.

DeNoma’s predecessor, Charles Lo (羅聯福), has been promoted to vice chairman of the parent company and is responsible for its expansion into Chinese markets, the statement said.

Lo was also designated to be the chairman of the bank’s Chinese subsidiary once it is established, the bank said.

NT dollar gains ground

The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.125 to close at NT$32.818.

A total of US$1.10 billion changed hands during the day’s trading.


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