TAIEX closes higher
Taiwan’s benchmark index closed up 1.09 percent yesterday, boosting the TAIEX above the 9,000-point mark, on hopes that a rising New Taiwan dollar will attract further inflows of funds, dealers said.
The TAIEX rose 98.02 points to 9,086.02, the highest level since May 2008, after moving between 9,005.77 and 9,092.28, on turnover of NT$150.61 billion (US$5.20 billion).
A total of 2,857 stocks closed up, 1,625 finished down, and 448 remained unchanged.
Local flood impact limited
The Ministry of Economic Affairs said yesterday the Australian floods should not impact Taiwan Power Co’s (Taipower, 台電) electricity supply.
However, Taipower, which sources 15 percent of its coal from Queensland, is expected to shoulder more than NT$10 billion in extra costs this year, as the flooding would push up coal prices.
The ministry also added that Taiwan Sugar Corp’s (Taisugar, 台糖) sugar supply is ample despite supply strains caused by the floods. Fifty-five percent of Taisugar’s raw sugar is sourced from Queensland.
Taisugar has more than a two-month inventory of raw sugar, and has begun sourcing the commodity from other regions to divert risk, it said.
Separately, the ministry also said it would slash taxes by half on four categories of wheat products over the next six months, in a bid to help vendors relieve wheat import burdens.
Synnex signs with Microsoft
Synnex Technology International Corp (聯強國際), one of Taiwan’s leading information technology (IT) product distributors, said yesterday that it has signed an agreement with Microsoft to serve as a local agent for the US tech giant’s Windows Embedded Handheld operating system.
Synnex said after signing the agreement that the deal makes it the first distribution partner of Microsoft in Taiwan for this particular operating system, which is used in devices such as cellphones.
The company said the Windows Embedded Handheld operating system originated from the Windows Mobile 6.5 operating system and provides more stability in mobile computing.
Mega approves BOC deal
Mega International Commercial Bank’s (兆豐國際商銀) board approved the signing of a cooperation agreement with China’s Bank of Communications Co (BOC, 交通銀行), its parent Mega Financial Holding Co (兆豐金控) said in a statement to the stock exchange yesterday. The collaboration will be in areas including syndicated loans, factoring, staff training and exchange of risk management experience, according to the statement.
The Taipei-based lender plans to sign the agreement after it gains approval from the Financial Supervisory Commission, the statement said.
TSMC reports fire
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, said a fire broke out at its US factory in Camas, Washington, during maintenance on Tuesday.
No one was injured and there wasn’t any impact on business operations, Elizabeth Sun (孫又文), spokeswoman for the Hsinchu-based company said by telephone yesterday.
NT dollar unchanged
The New Taiwan dollar closed unchanged at the NT$29.450 against the US dollar yesterday after the central bank intervened to shore up the value of the greenback, helping the unit rebound from a low, dealers said.
Turnover totaled US$1.03 billion during the trading session.
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