Wed, Jan 05, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

STAFF WRITER, WITH AGENCIES

TAIEX falls on profit-taking

The TAIEX closed down 0.31 percent yesterday as investors pocketed profits from the gains posted by the financial sector in the previous session, dealers said.

The index fell 28.11 points to 8,997.19, after moving between 8,988.58 and 9,046.18, on turnover of NT$161.35 billion (US$5.53 billion).

The market opened up 0.22 percent and moved to the day’s high on follow-through buying, but profit-taking followed as investors dumped financial shares, which had risen on optimism over banks’ profitability in anticipation of continued interest rate increases, dealers said.

A total of 2,441 stocks closed up, 1,986 finished down and 356 remained unchanged.

Tsann Kuen posts strong sales

Shares of Tsann Kuen Enterprise Co (燦坤實業), a computer, communications and consumer electronics product retailer, rallied yesterday after the company reported double-digit growth in sales last month, dealers said.

Tsann Kuen rose 2.84 percent to close at NT$61.50, with 4.29 million shares changing hands.

Earlier in the day, Tsann Kuen reported that sales last month reached NT$2.38 billion, up 20.54 percent from a year earlier. For the whole of last year, Tsann Kuen recorded NT$27.82 billion in sales, up 2.97 percent from 2009.

HK listings may top US$45bn

Initial public offerings in Hong Kong may raise as much as HK$350 billion (US$45 billion) this year, according to an estimate by PricewaterhouseCoopers LLP.

The city may have 110 listings, the accounting firm said yesterday.

Initial offerings in Hong Kong raised a record HK$425.5 billion last year, according to Bloomberg data that include stock sold through the exercise of overallotment shares.

TSMC purchasing equipment

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, bought NT$4.3 billion in equipment from five vendors, the company said in five separate filings to the stock exchange yesterday.

The Hsinchu-based company purchased NT$1.28 billion of equipment from Tokyo Electron Ltd, NT$743 million from Hitachi High-Technologies Corp, NT$740 million from Applied Materials South East Asia Pacific Ltd, NT$557 million from Hermes Microvision Inc and NT$938 million from Taiwan’s China Steel Structure Co (中國鋼鐵結構), the statements said.

Highwealth profit up 62 percent

Highwealth Construction Corp (興富發建設), which on Monday bought a 1,051.57-ping (3,470m2) plot of land for NT$5.22 billion in Taipei’s Wanhua District (萬華), said yesterday its profit last year jumped 61.6 percent from a year ago.

The Taipei-based land developer said in a stock exchange filing that pre-tax profit reached NT$7.09 billion last year on a revenue of NT$27.52 billion.

The company had NT$4.39 billion in pre-tax profit and NT$18.86 billion in revenue in 2009, according to its previous filing.

With 706.87 million of its shares outstanding, pre-tax earnings per share was NT$10.50 last year, the filing said.

NT ends little changed

The New Taiwan dollar approached a 13-year high before retreating to end little changed on suspected intervention by the central bank.

The NT dollar closed at NT$30.201 against the greenback, Taipei Forex Inc said. It was trading 3.6 percent stronger a minute before the end of the trading session.

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