Sat, Apr 03, 2010 - Page 11 News List

Business Briefs

AGENCIES

Share prices close higher

Taiwanese share prices closed higher yesterday, with the weighted index, the market’s key barometer, moving up 12.84 points, or 0.16 percent, to close at 8,025.93.

The local bourse opened at 8,046.29 and fluctuated between a low of 8,021.91 and a high of 8,050.99 during the day’s trading.

Market turnover was NT$108.12 billion (US$3.41 billion).

Five of the eight major stock categories lost ground, with textile issues dropping the most at 0.36 percent. Construction shares plunged 0.25 percent, paper and pulp issues were down 0.19 percent, foodstuff shares moved down 0.05 percent and banking and financial stocks were down 0.02 percent.

Two of the major stock categories gained ground, with cement issues gaining the most at 0.42 percent and machinery and electronics stocks rising 0.21 percent.

Foreign investors and Chinese qualified domestic institutional investors were net buyers of NT$8.47 billion in shares.

Far EasTone forecasts boost

Far EasTone Telecommunications Co (遠傳) forecasts revenue to climb 11.1 percent to NT$59.7 billion (US$1.88 billion) this year, with earnings per share of NT$2.85, the Taipei-based company said in a filing to the Taiwan stock exchange yesterday.

Far EasTone estimates its pre-tax profit may fall 7.4 percent to NT$11.7 billion this year because of higher operational costs on promotions and the establishment of the 3G stations, the statement said.

Mediatek to offer 3G platform

Mediatek Inc (聯發科), Taiwan’s largest chip designer, plans to offer a software and hardware platform for third-generation phones using Google Inc’s Android operating system by the end of this year, Sophia Liang (梁厚誼), an investor relations official at the company, said yesterday.

Mediatek will have a design that will include wireless communication chips, touch-screens and related software to allow clients to make their own Android handset, Liang said.

Soft-World to distribute JX World

Soft-World International Corp (智冠科技) won a licensing agreement from Kingsoft Corp (金山在線) through a subsidiary to distribute the JX World (劍俠世界) online game in Taiwan, Hong Kong and Macau, the Kaohsiung-based company said in an exchange filing yesterday.

No Sumitomo decision yet

Taiwan’s Chinatrust Financial Holding Co (中信金控) said the board had not reached any decision to sell a stake to Sumitomo Mitsui Financial Group Inc and declined to comment on a report by the Economic Daily News, the company said in a filing to the Taiwan stock exchange.

The Chinese-lanugage newspaper yesterday reported Sumitomo Mistui plans to invest in Chinatrust Financial by buying shares through a private placement offered by the Taipei-based company.

NT dollar advances

The New Taiwan dollar advanced, capping a weekly gain, as overseas investors added to their holdings of the nation’s shares for a sixth straight day amid speculation a trade accord with China will boost earnings.

Global funds plowed more than a US$1 billion into local equities this week.

“The Taiwan dollar is still on a rising trend,” said Henry Lin, a currency trader at Taiwan Shin Kong Commercial Bank (新光銀行) in Taipei. “The China trade issue is attracting overseas funds.”

The local dollar strengthened 0.1 percent to NT$31.759 against its US counterpart as of 4pm local time, according to Taipei Forex Inc.

It advanced 0.4 percent this week and touched an 18-month high of NT$31.667 on March 18.

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