TAIEX closes down slightly
The TAIEX closed little changed yesterday on profit-taking after the market briefly hit the nearest technical resistance level of about 8,300 points, dealers said.
The TAIEX closed down 0.11 points at 8,283.92, after moving between 8,270.31 and 8,310.80, on turnover of NT$129.17 billion (US$4.19 billion).
The market opened up 0.25 percent on follow-through buying, but investors became increasingly cautious, in particular in late trading, to pocket profits ahead of a US jobless report due today, the dealers said.
A total of 2,087 stocks closed down and 1,746 were up, with 349 remaining unchanged.
Amtran profits shoot up
Amtran Technology Co Ltd (瑞軒), which makes flat-panel TVs for US TV maker Vizio Inc and other firms, said yesterday its last month’s sales hit the highest level this year to reach NT$5.53 billion as customers increased inventories aggressively ahead of the Thanksgiving and Christmas shopping seasons.
Compared with August, the monthly sales rose 22.2 percent.
In the third quarter, Amtran’s revenues rose 5.78 percent to NT$15.2 billion, from NT$14.37 billion in the second quarter, a press release said.
Shipments exceeded 1 million units last quarter, of which LED TV accounted for 20 percent, Amtran said.
GDP growth to reach 9.3%
Taiwan’s real GDP growth is expected to reach 9.3 percent this year and 4.4 percent next year, an IMF forecast on Wednesday said.
Among other major economies in Asia, China is projected to post 10.5 percent growth this year and 9.6 percent next year; Hong Kong 6 percent this year and 4.7 percent next year, and Japan 2.8 percent this year and 1.5 percent next year, the IMF’s World Economic Outlook showed.
The growth in South Korea is predicted to reach 6.1 percent this year and 4.5 percent next year; Singapore 15 percent this year and 4.5 percent next year, and India 9.7 percent this year and 8.4 percent next year.
Intel mum on CEO visit
Intel Corp, the world’s largest chipmaker, declined yesterday to comment on reports that its chief executive officer will visit Taiwan later this month.
Intel’s Taiwan branch told the Central News Agency (CNA) that it has not confirmed a date or details regarding a visit from Intel president Paul Otellini.
Local media have attached great importance to an Otellini visit after Intel closed its WiMAX Program Office in Taiwan in late June.
A Ministry of Economic Affairs official told CNA on Wednesday that Otellini was scheduled to arrive in Taipei on Oct. 28 and would sign a memorandum of understanding with the ministry on the development of the cloud computing industry.
NT dollar closes higher
The New Taiwan dollar pared gains in the final minute of trading as policy makers intervened to curb appreciation that may hurt exports, traders said.
They said the central bank’s efforts could only slow down the pace of the NT dollar’s appreciation, but could not reverse the upswing trend, as other Asian currencies are also rising against the greenback.
The NT dollar rose 0.3 percent to close at NT$31.042 against its US counterpart, according to Taipei Forex Inc.
It was up 1.5 percent one minute before trading ended for the day and earlier touched NT$30.675, the strongest level since August 2008.
The currency has appreciated 4.2 percent this year.
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