TAIEX closes higher
Taiwanese share prices closed down 0.45 percent yesterday after profit taking eroded early gains following a rebound on Wall Street overnight, dealers said.
The TAIEX fell 35.81 points to 7,936.85, after moving between 7,921.98 and 8,018.14, on turnover of NT$156.21 billion (US$4.91 billion).
The market opened up 0.47 percent on Wall Street gains that were based on improving US payroll data. At one point, the TAIEX breached the key 8,000-point mark before profit-taking set in amid fears that a major pullback would follow, dealers said.
A total of 2,263 stocks closed down and 1,414 up, while 299 remained unchanged.
7-Eleven top in Philippines
Uni-President Group (統一集團) yesterday said it has successfully opened the 500th 7-Eleven store in the Philippines, cementing its position as the largest convenience store chain in that market.
The Philippines 7-Eleven business has been profitable for six consecutive years, with sales last year growing over 20 percent year-on-year to 6.3 billion pesos (US$141 million), according to a statement.
Uni-President opened its first 7-Eleven store in the Philippines in 2000. It brought in its Taiwan know-how and localized by introducing food and beverages that cater to local tastes and climate.
The company said it aims to double the outlets in the Philippines to 1,000 by 2013.
ICT roadshow in Malaysia
A 30-member delegation from Taiwan’s information communication technology (ICT) industry held a seminar and road show in Kuala Lumpur, Malaysia yesterday, sealing several cooperative agreements with Malaysian businesses.
Tang Yun-shun, head of the Taiwan delegation, said at the seminar earlier in the day that Malaysia has sound infrastructure and a good investment environment, which will encourage Taiwanese technology companies to explore opportunities for cooperation.
The Taipei Computer Association (台北市電腦公會) also signed a memorandum of cooperation with a Malaysian association to help small and medium sized enterprises in Malaysia to use innovative ICT.
Solar power loan secured
Neo Solar Power Corp (新日光) received a NT$5 billion five-year syndicated loan from nine banks, including Taiwan Cooperative Bank (合作金庫銀行), the company said in a filing to the Taiwan Stock Exchange yesterday. The funds will be used to buy equipment, materials and boost working capital, the statement said.
Profits down at China Steel
China Steel Corp (中鋼), the nation’s largest and only integrated steelmaker, said yesterday in a statement that its unaudited pretax profit was NT$4.32 billion last month, down 8.3 percent from NT$4.71 billion the previous month but up more than fourfold from a year earlier.
Revenue was NT$22.02 billion, up 11.7 percent from NT$19.71 billion in June, China Steel said in the statement.
In the first seven months of the year, pretax profit totaled NT$31.77 billion on revenue of NT$134.53 billion, the statement said.
Production volume was 851,091 tonnes last month and 5.7 million tonnes during the period from January to last month, the company said.
NT dollar closes higher
The New Taiwan dollar rose against the US dollar yesterday, up NT$0.02 to close at NT$31.850.
Turnover totaled US$641 million during the trading session.
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