TAIEX gains 0.43 percent
Taiwanese shares closed up 0.43 percent yesterday, tracking modest gains on Wall Street while financials continued to fall on profit-taking on news of financial pacts with China, dealers said.
The TAIEX rose 33.48 points to 7,766.69 on turnover of NT$131.91 billion (US$4.11 billion). Gainers led losers by 1,595 to 1,034, with 259 stocks unchanged.
Financials, the worst performing sector, fell 0.6 percent on continued profit-taking after Taipei and Beijing signed three long-anticipated agreements on financial supervision over the banking, insurance and securities businesses, dealers said.
Daiwa Securities (大和證券) fund manager David Li (李衍磬) expected the market to stage a mild rally to test 7,800 points today on possible government fund support.
Taiwan Life to sell office
Taiwan Life Asset Management Co (台壽保投信) is scheduled to put up its office building in Neihu (內湖) for auction on Nov. 30 with the floor price set at NT$2.32 billion, adviser to the deal DTZ (戴德梁行) said yesterday.
The 11-story property, which sits on a 997 ping (3,296m²) plot of land, has total floor space of 8,411 ping, the realtor said in a statement.
DTZ estimated that the commercial property would yield a more than 3.38 percent return on its asking price even with its current 16 percent vacancy rate.
If fully rented with a total monthly fixed income of NT$7 million, the deal’s annual return would further rise to 3.64 percent, the realtor said.
Prospective bidders will be required to put down a deposit of NT$250 million before the auction date, it said.
Bank to open new branch
China Construction Bank Co (中國建設銀行), the world’s second-largest lender by market value, is interested in opening a branch in Taiwan and buying assets in the country, chairman Guo Shuqing (郭樹清) said yesterday after a conference in Beijing.
However, the bank doesn’t have any “immediate plans” for its purchases or a branch in Taiwan, Guo said without elaborating.
Nan Ya delays plant restart
Nan Ya Plastics Corp (南亞塑膠), the world’s largest processor of plastics for pipes and imitation leather, delayed the restart of a chemical plant in Mailiao Township (麥寮), Yunlin County, because of a gas leak, president Wu Chia-chau (吳嘉昭) said by telephone yesterday.
Twelve workers were sent to hospitals for checkups, and initial results showed that they were fine, Wu said.
The toluene di-isocyanate plant had been halted for inspection before the accident, he said, without giving details.
The company has repaired the leak and is conducting further inspection before restarting the plant, which has an annual capacity of 30,000 tonnes.
“The company’s sales won’t be affected as it’s a small plant,” Wu said.
Land Bank eyes China
State-owned Land Bank of Taiwan (土地銀行) is planning to set up more offices in China after the signing of a memorandum of understanding on financial regulatory cooperation between Taiwan and China, a bank official said yesterday.
Wang Yao-shing (王耀興), chairperson of the Land Bank of Taiwan, said at a legislative meeting that the bank currently has a representative office in Shanghai.
“In the future, the bank is planning to set up footholds in Tianjin, Haixi economic zone and in Qingdao,” Wang said.
He said the bank hoped to upgrade its office in Shanghai into a branch to expand its services.
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