Shares close higher
Taiwanese shares closed up 1.66 percent yesterday, tracking Wall Street’s overnight rally and stronger regional bourses, dealers said.
The TAIEX index rose 108.59 points to 6,639.41 on turnover of NT$96.83 billion (US$2.93 billion).
The number of gainers led losers 1,661 to 595, with 128 stocks unchanged.
Masterlink Investment Advisory (元富投顧) assistant vice president Tom Tang expected the market to consolidate in the 6,500-6,700 band given yesterday’s thin trading volume.
“There were likely no new funds in the market. Some investors might have already cashed out during the previous rally” around late May, Tang said.
Investors might also be waiting to see how global stock markets react to earnings reports from major US companies this week, he added.
Huga Optotech in Korean deal
Seoul Semiconductor Co, a South Korean electronic-parts maker, said it formed a venture with Taiwan’s Huga Optotech Inc (廣鎵光電) to make light-emitting diode chips.
Seoul Semiconductor owns 9 percent of the venture, its unit Seoul Optodevice owns 42 percent and Huga has 49 percent. Seoul Semiconductor made the announcement yesterday in a regulatory filing.
Chi Mei, AUO note objections
Chi Mei Optoelectronics Corp (奇美) received a statement of objections from EU regulators as part of an investigation into possible price-fixing by makers of liquid-crystal displays, Loreta Chen (陳靜燕), a spokeswoman for the Taiwanese company, said yesterday by telephone.
AU Optronics Corp (友達, AUO) said it also received the statement of objections and was preparing to issue a response to the EU, the company said in an exchange filing yesterday.
Taipower wants bids for bonds
Taiwan Power Co (Taipower, 台電) is inviting bids for NT$10 billion (US$302 million) in bonds to help pay for new generators and transmission lines.
The state-run utility plans to sell NT$3 billion in three-year notes, NT$5 billion in five-year bonds and NT$2 billion in seven-year securities that will be guaranteed by Taipei Fubon Commercial Bank (台北富邦銀行), Clint Chou (周義岳), a spokesman for the company, said by telephone yesterday.
Taipower’s board will meet tomorrow to review pricing for the company’s second bond sale this year, Chou said.
The utility sold NT$6.99 billion in notes in March.
IBM fails to block Asustek
International Business Machines Corp (IBM) lost its bid to ban imports to the US of computer motherboards and graphics cards made by Taiwan’s Asustek Computer Inc (華碩).
The US International Trade Commission in Washington said on Monday it would not review a March finding that Asustek did not infringe on three IBM patents. The decision was posted on the agency’s Web site.
IBM had claimed that Asustek was using its patented technology for improved power supplies to computers, a cooling system and a way of clustering computers together so that they operate as a single unit.
IBM was also seeking to bar the imports of computers that contain the Asustek products.
NT dollar gains ground
The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.103 to close at NT$33.090. A total of US$712 million changed hands during the day’s trading.
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