Share prices little changed
Share prices closed little changed yesterday as bargain-hunting interest in financial firms offset losses suffered by traditional industrial stocks, dealers said.
The weighted index rose 6.14 points or 0.07 percent to 8,202.54, after moving between 8,154.97 and 8,223.22, on turnover of NT$134.97 billion (US$4.28 billion).
The market opened 5.28 points higher on Wall Street’s lackluster performance overnight, and selling emerged as investors pocketed recent profits before bargain hunters became active picking up financial stocks and recouping the losses, dealers said.
A total of 1,619 stocks closed up and 2,175 were down, with 313 remaining unchanged
Web site targets phishing
A strategic alliance for protecting information security was established yesterday, along with the launch of an anti-phishing notification Web site, with the aim of speeding up the handling of phishing cases, an organizer of the alliance said yesterday.
The strategic alliance, which consists of 12 government and private organizations, said in a statement that it will make joint efforts to fight phishing and protect Taiwan’s information security.
The newly launched anti-phishing notification Web site at www.apnow.tw is expected to serve as a single window for collecting phishing cases reported from around the country.
Lextar name new chairman
Local LED chipmaker and chip packager Lextar Electronics Corp (隆達電子) yesterday said its board had promoted president David Su (蘇峰正) to company chairman, filling the vacancy left by Chen Hsuan-bin (陳炫彬).
Chen resigned his post on Tuesday to facilitate the company’s listing on the nation’s major stock market, Lextar said in a filing to the Taiwan Stock Exchange.
The exchange is currently reviewing the procedures of the listing.
Chen, who doubles as vice chairman of the nation’s No.2 LCD panel maker AU Optroncis Corp (AUO, 友達光電), was restricted from leaving the US by a district court because of a price fixing lawsuit.
AUO holds a 36.58 percent share of Lextar, which filed an application to trade its stocks on the TAIEX in March.
Two other AUO officials chief executive Chen Lai-juh (陳來助) and board member Hui Hsiung (熊暉) were also banned from traveling outside the US.
Car sales could hit 300,000
Taiwanese consumers are expected to buy 300,000 cars this year, according to a major car dealer that said the nation has seen robust demand so far this year.
Hotai Motor Co (和泰汽車), the Taiwanese distributor of Japanese car maker Toyota Motor Corp, said on Wednesday it has raised its forecast for car sales, from 275,000 units to 300,000 units for this year.
According to statistics compiled by Hotai, domestic car sales between Jan. 1 and Sept. 20 rose 23.2 percent from a year earlier to 220,091 units.
Hotai said the better-than-expected sales growth so far this year has been very encouraging.
However, Hotai said the growth of car sales in the fourth quarter of this year could appear moderate because of a relatively high comparison base in the corresponding period of last year.
NT dollar gains on greenback
The New Taiwan dollar finished higher against the US dollar yesterday, rising NT$0.165 to close at NT$31.600.
Turnover totaled US$956 million during the trading session.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
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
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to