Taiwanese shares fall 1.55%
Taiwanese shares closed down 1.55 percent yesterday on profit-taking in financial stocks, dealers said.
The TAIEX index fell 107.63 points to 6,848.24 on turnover of NT$145.3 billion (US$4.44 billion).
Losers outnumbered gainers 1880 to 586, while 107 shares remained unchanged.
The market opened slightly up and hit an intraday high of 7,013.6 in the morning before pulling back to negative territory.
“As in recent sessions, a sell-off again emerged around noon today,” said Mars Hsu of Grand Cathay Securities (大華證券). “The main selling pressure came from government funds operated by private fund managers.”
Foreign reserves hit US$321bn
The nation’s foreign exchange reserves hit a new high of US$321 billion last month, expanding US$3.53 billion from the figure recorded in June, the central bank said yesterday.
Lin Sun-yuan (林孫源), director-general of the Department of Foreign Exchange, linked the increase to returns from foreign exchange reserves management as well as appreciation of foreign exchange reserves denominated in euro, yen and other major currencies. Those currencies gained against the US dollar last month.
The data change did not alter the nation’s ranking as the world’s fourth largest, next only to China, Japan and Russia.
Bondholders petition MOF
A group of Taiwanese who hold bonds issued by the Japanese colonial government petitioned the Ministry of Finance (MOF) yesterday to help them seek repayment from the Japanese side in a case has been unresolved for more than 60 years.
The bondholders said that after Taiwan was handed over to the Chinese Nationalist Party (KMT) government in 1945, the Japanese government notified Taiwan that between 1952 and 1967 it would accept redemption of bonds it had issued. However, the Taiwanese government did not seek repayment from Japan on behalf of the bondholders within that period, so the holders never received any repayment, they said.
Deputy Minister of Finance Tseng Ming-chung (曾銘宗) said the ministry would work with the bondholders to find a solution to the problem.
Projector shipments decline
Shipments of projectors slid further to hit the lowest level in 2 years as demand from corporations and schools remained weak, market researcher International Data Inc (IDC) said yesterday.
Projector makers have shipped 15,288 units in the quarter ending June 30, down 29.1 percent from 21,552 units a year ago, or down 24.4 percent from 20,234 units in the first quarter of this year.
IDC analyst Mel Yeh (葉育霖) expected to see an improvement in the second half as the government planned to allocate NT$7.1 billion for an economic stimulus package.
However, IDC said that shipments may dip this year for the first time in four years. Last year, projector shipments amounted to 93.254 units, IDC said.
NT$690 tickets to Bangkok
Malaysian budget airline AirAsia announced yesterday its latest promotional program targeting the Taiwanese market, offering an extra-low fare of just NT$690 one way on the inaugural flight on its Taipei-Bangkok route to be launched on Sept. 25.
The fare is limited only to the inaugural flight, with reservations accepted online from today through Tuesday, the company said.
NT dollar declines slightly
The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, falling NT$0.046 to close at NT$32.720. Turnover was US$754 million.
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