TAIEX closes mostly flat
The TAIEX closed little changed yesterday as rotational buying in the financial sector offset the losses suffered by bellwether electronic stocks, which have been pressured by a rising New Taiwan dollar, dealers said.
The TAIEX fell 4.41 points or 0.05 percent to 8,866.35, after moving between 8,844.67 and 8,893.14, on turnover of NT$145.09 billion (US$4.90 billion).
The market opened up 0.08 percent and moved to the day’s high before selling in the high-tech sector set in to weigh on the movement, the dealers said.
However, interest in the financial sector emerged during the trading session, helping the broader market fend off the gloomy mood about the harm done by a stronger local currency to Taiwan’s global competitiveness, they said.
A total of 2,914 stocks closed down, while 1,453 finished up and 298 remained unchanged.
More subsidies for e-scooters
The government is extending subsidies for the purchase of electric scooters by one year to 2013 from 2012, the Ministry of Economic Affairs said in a statement on its Web site yesterday.
The handouts remain at NT$11,000 each for light models and NT$8,000 for compact ones, according to the statement.
Books.com sales up 30 percent
Books.com (博客來), one of Taiwan’s leading online booksellers, said yesterday its sales of book titles grew 30 percent to more than 11.3 million this year.
Titles that sold more than 10,000 books also expanded by 10 percent, according to a company statement.
The retailer has had a long partnership with 7-Eleven, allowing consumers to browse and click their purchases on the Internet and get their books at the convenience store of their choice.
Books.com said moving forward, it would launch mobile application for smartphone users to place orders, and provide buyers with a speedy 16-hour delivery service.
Tung Ho sells building
Tung Ho Steel Enterprise Corp (東和鋼鐵) sold a building and land in Taoyuan for NT$1.51 billion, the company said in a statement to the Taiwan Stock Exchange yesterday.
Mospec plans share sale
Mospec Semiconductor Corp (統懋半導體) plans to raise as much as NT$224.3 million selling up to 15 million new shares at NT$14.95 each in a private placement to help replenish working capital, fund equipment purchase and repay debt, the Tainan-based company said in a statement to the Taiwan Stock Exchange yesterday.
Morgan Stanley sale approved
Applications for the sale of three Morgan Stanley investment funds in Taiwan have been approved by the Financial Supervisory Commission, Cathay Securities Investment Consulting (國泰投顧) said yesterday.
Cathay serves as the master agent for the three funds and is gearing up for their launch in the domestic market soon.
The three newly approved investment funds are Morgan Stanley Global Brands Fund, Morgan Stanley Emerging Markets Debt Fund and Morgan Stanley Asian Equity Fund, according to the master agent.
NT dollar keeps rising
The New Taiwan dollar rose against the US dollar yesterday, gaining NT$0.029 to close at NT$30.367 after hitting a high of NT$29.375.
In late trade, the central bank stepped in again to boost the value of the US dollar to above NT$30, dealers said.
Turnover totaled US$875 million during the trading session.