Thu, Dec 16, 2010 - Page 11 News List

[ BUSINESS BRIEFS ]

STAFF WRITER, WITH AGENCIES

Volatile TAIEX up 0.19%

The TAIEX closed up 0.19 percent yesterday after seesaw fluctuations between buying in old economy stocks and selling in the bellwether electronics sector, which has been haunted by a rising New Taiwan dollar, dealers said.

The TAIEX rose 16.28 points to the day’s high of 8,756.71, off a low of 8,698.41, on turnover of NT$136.89 billion (US$4.58 billion).

A total of 1,585 stocks closed up and 2,683 were down with 344 remaining unchanged.

UMC boosts New Business

United Microelectronics Corp (聯電) invested an additional NT$1.5 billion in UMC New Business Investment Corp (聯電新投資事業), a wholly-owned unit, the Hsinchu-based chipmaker said in a statement to the stock exchange yesterday.

Silicon to buy back 30m shares

Silicon Integrated Systems Corp (矽統科技) plans to buy back 30 million common shares, or 4.2 percent of its total outstanding shares, the company said in a statement to the stock exchange yesterday.

The company plans to buy back shares at between NT$13.41 and NT$28.27 each from Dec. 16 to Feb. 15, next year. Shares repurchased from the open market will be transferred to employees, the company said.

TGI investing in super-thin glass

Taiwan Glass Industrial Corp’s (TGI, 台玻) board of directors approved a plan to invest NT$3 billion in a new super-thin glass production line to meet market demand, the company said in a statement to the Taiwan Stock Exchange.

Cathay Life buys Hsinchu land

Cathay Life Insurance Co (國泰人壽) bought real estate in Hsinchu, northern Taiwan, for NT$578 -million, parent Cathay Financial Holding Co (國泰金控) said in a statement to the stock exchange yesterday.

TCB mulls buying Bills Finance

Taiwan Cooperative Bank (TCB, 合作金庫銀行) is considering buying shares in Taiwan Cooperative Bills Finance Corp (合作金庫票券金融) from Bank of Panhsin (板信銀行) and Standard Chartered Bank (Taiwan) Ltd (渣打銀行) to make it a wholly owned subsidiary, the lender said in a statement to the stock exchange yesterday.

It mulls buying 51.78 million shares in the bills finance firm at prices between NT$6.94 and NT$8.03 per share, or a total of up to NT$416 million, Taiwan Cooperative said.

The bank’s board approved a business cooperation agreement draft to be signed with Bank of China Ltd (中國銀行), the lender said in a statement yesterday. The pact needs approval from local regulators before the agreement can be signed, it said.

NT dollar falls slightly

The New Taiwan dollar fell against the US dollar yesterday, dropping NT$0.05 to close at NT$30.5.

Turnover totaled US$881 million during the trading session.

The greenback opened at NT$30.5 and moved between NT$29.800 and NT$30.550 before the close.

Dealers said the New Taiwan dollar continued its momentum from the previous day, rising above NT$30 against the US dollar during most of the trading session before the central bank intervened.

eCareme launches music service

Cloud computing services provider eCareme Technologies Inc (全球聯迅), under Asustek Computer Inc (華碩電腦), yesterday launched a new service that allows users to listen to their favorite music across various mobile devices.

The “MEar” application is its latest “portable music” service. Users can then listen to songs across smartphones, PCs and tablets, as long as the program is downloaded onto these devices.

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