Share prices close higher
Taiwan’s benchmark index climbed 0.19 percent yesterday as rotational buying remained active in lifting old economy stocks, while select high-tech heavyweights weakened amid concerns over their earnings outlook, dealers said.
The TAIEX rose 15.13 points to 7,972.66 after moving between 7,938.92 and 7,978.16 on turnover of NT$125.62 billion (US$3.95 billion).
The market opened little changed from the close of the previous session, up 2.77 points, as investors witnessed an overnight Wall Street fall on disappointing personal income, spending and factory order figures in the US, but interest in the foodstuff and textile sectors was renewed to offset a slide in the electronics sector, the dealers said.
A total of 1,922 stocks closed up and 1,591 were down, with 307 remaining unchanged.
Amtran sales jump 28 percent
Amtran Technology Co (瑞軒科技), which makes flat-panel televisions for Vizio Inc, yesterday said sales last month jumped 28 percent year-on-year to NT$5.14 billion on recovering demand. That meant a 4 percent decline, however, from June’s NT$5.34 billion.
Amtran said TV shipments had stabilized over the past few months with monthly shipment rebounding to 300,000 units after customers completed product transition
Amtran expected shipments to grow quarter by quarter in the second half of the year. The company plans to launch new products like 3D TVs and Internet TVs later this year.
EVA makes top 10 list
EVA Airways Corp (長榮航空) has made the top 10 list of international airlines in the 2010 World’s Best Awards, an annual reader survey conducted by the New York-based Travel+Leisure magazine (T+L).
EVA was ninth on the list, based on respondents’ ratings in the categories of cabin comfort, in-flight service, customer service, and value.
The awards, published in this month’s T+L issue, ranked Singapore Airlines first, a position it has held since 2007.
Second was Emirates, followed by Qatar Airways, Virgin Atlantic Airways, Cathay Pacific, Asiana Airlines, Air New Zealand, Thai Airways International, EVA Air and Korean Air.
Farglory get OK for subsidiary
Farglory Land Development Co (遠雄建設) said on Tuesday the Investment Commission had granted it approval to set up a subsidiary in Suzhou, Jiangsu Province, marking its fourth investment project in China.
The new Suzhou venture, whose business centers on real-estate development, will have capital of US$50 million to be funded through the issuance of global depository receipts, the constructor said in a filing to the Taiwan Stock Exchange.
Including the earlier projects in Tianjin, Hangzhou and Shanghai, Farglory’s total investments in China amount to US$170 million, it said.
Procurement leap expected
Taiwan expects procurement delegations from China to place orders in excess of US$20 billion this year, up more than 30 percent from US$15.2 billion last year, local media reported yesterday.
“I believe China’s procurement of goods here will rise sharply this year to US$20 billion,” Wang Chih-kang (王志剛), chairman of the quasi-official Taiwan External Trade Development Council, told the Economic Daily News.
NT dollar declines
The New Taiwan dollar fell against the US dollar yesterday, declining NT$0.02 to close at NT$31.870.
Turnover totaled US$601 million during the trading session.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
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With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate