Shares gain ground
Share prices on the Taiwan Stock Exchange closed 2.01 percent higher yesterday after European stock markets began to recover from a slump that was triggered by worries about debt problems in some countries in the region.
An easing in selling pressure prior to the Lunar New Year holiday also helped give a boost to the local bourse, analysts said.
The TAIEX rose 145.16 points to finish at 7,361.04.
The market opened at 7,225.71 and fluctuated between a high of 7,381.82 and a low of 7,197.13. A total of 3.73 billion shares changed hands on turnover of NT$98.89 billion (US$3.08 billion).
Gainers outnumbered losers 2,613 to 672, with 175 stocks remaining unchanged.
Asustek shareholders back plan
Shareholders of Asustek Computer Inc (華碩電腦) yesterday approved the management’s plan to reduce its issued shares and its stake in its wholly owned contract manufacturing unit Pegatron Technology Corp (和碩聯合), as Asustek seeks to avoid possible conflicts of interests.
Asustek has hoped to separate its brandname and contract-manufacturing units to strengthen corporate strengths.
Asustek also plans to list Pegatron on June 24, the company said.
China Steel profits up 218%
China Steel Corp (中鋼) posted a pretax profit of NT$4.18 billion last month, up 218.74 percent from the same period of last year, the company said in an e-mailed statement yesterday.
Revenue rose 80.21 percent to NT$18.54 billion last month from a year earlier, the company said.
Chunghwa Telecom eyes profit
Chunghwa Telecom Co (中華電信), the nation’s largest phone operator, forecast first-quarter profit will rise 4.6 percent to NT$11.3 billion on revenue of NT$45.5 billion, the Taipei-based company said in an e-mailed statement yesterday.
Net income will be 7.1 percent higher than the NT$10.54 billion posted in the fourth quarter, mainly because of a reduction in income tax, it said.
TSMC to pay NT$3 dividend
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest maker of chips designed by other companies, said its board plans to give shareholders NT$3 cash dividend a share on last year’s profits, the company said in an e-mailed statement yesterday.
The Hsinchu-based chipmaker also proposed spending NT$13.4 billion in employee bonuses and profit sharing, the statements said. The company will seek shareholders’ approval on the dividend and employee bonus plans on June 15, it said.
Li not interested in Formosa TV
Hong Kong billionaire Li Ka-shing (李嘉誠) doesn’t plan to purchase shares of Formosa Television, Cheung Kong (Holdings) Ltd (長江實業) spokeswoman Winnie Cheong said yesterday.
Senior executives of the TV station are in contact with potential investors, including Cheung Kong chairman Li, Chinese-language Next Magazine reported, without citing anyone.
“The report regarding Li is incorrect,” Cheong said in a telephone interview.
Formosa Plastics Group founder Wang Yung-ching’s (王永慶) son Winston Wong (王文洋) may buy a NT$1 billion stake in the TV station, the magazine said.
NT dollar rises
The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising by NT$0.095 to close at NT$32.100. A total of US$613 million changed hands during the day’s trading.
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