Tue, Nov 23, 2010 - Page 11 News List

[ BUSINESS BRIEFS ]

Investors snap up tech shares

The TAIEX closed up 0.83 percent yesterday as buying in large-cap electronic stocks resumed amid ample liquidity, with investors ignoring China’s second increase in reserve requirements in a matter of days, dealers said.

The weighted index rose 68.79 points to 8,374.91, after moving between 8,334.42 and 8,391.25, on turnover of NT$88.87 billion (US$2.93 billion).

The market opened up 0.45 percent as investors shrugged off China’s latest monetary tightening measures and the momentum accelerated with bargain hunters emerging to pick up bellwether high-tech firms on low valuations, dealers said.

Construction stocks also attracted buying on hopes that local property prices would get a boost after media reported the government was mulling a NT$18.46 billion urban renewal plan, they said.

A total of 2,115 stocks closed up, 1,573 finished down and 418 remained unchanged.

HTC buys office space

HTC Corp (宏達電), the world’s largest maker of smartphones running on the Windows and Android platforms, yesterday said its board of directors had approved the acquisition of additional office space in Sindian, Taipei County, for NT$404 million (US$13.3 million).

The company bought the third and the eighth floors of a building located on Baoqiang Road from affiliate business VIA Technologies Inc (威盛電子).

The transaction, expected to be completed by the end of the year, will include office space of 1,140 ping (3,769m2), 12 regular parking lots and 25 mechanical parking lots.

The new space will add to HTC’s new Taipei headquarters in Sindian, which is scheduled for completion by the end of next year. The new headquarters will have floor space of 25,900 ping, accommodating up to 2,200 employees.

Powerchip scraps share sale

Powerchip Technology Corp (力晶) has scrapped its plan to sell between 650 million and 800 million new shares, the Financial Supervisory Commission said in a statement on its Web site yesterday.

Powerchip had planned to raise between US$145 million and US$179 million selling shares on the domestic and overseas markets in the form of global depositary receipts, according to the statement.

The memory chipmaker had said it would reapply for approval after the regulator in July rejected its share sale plan because of its weak financials.

Acquisition on track: Capital

Capital Securities Corp (群益證券) expects to complete its acquisition of Taiwan International Securities Corp (金鼎證券) on Mar. 27, the Taipei-based company said in a stock exchange statement yesterday. Capital had acquired a 90 percent stake in Taiwan International as of yesterday, after announcing the acquisition plan in July, the statement said.

Fitch raises Quanta outlook

Fitch Ratings has raised its outlook on Quanta Computer Inc (廣達電腦), the world’s largest contract notebook maker, on hopes that the company will maintain its credit metrics in line with its current ratings.

In a statement released on Thursday last week, Fitch said it has affirmed Quanta’s long-term foreign currency and local currency issuer ratings at “BB” and the company’s national long-term rating at “BBB+ (twn).”

NT dollar continues to rise

The New Taiwan dollar rose for a third day yesterday, closing 0.2 percent higher at NT$30.628 against its US counterpart, according to Taipei Forex Inc. The currency reached NT$30.015 on Nov. 12, its strongest level since March 2008.

This story has been viewed 1823 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top