Tue, Jan 25, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

STAFF WRITER, WITH AGENCIES

TAIEX down 0.07 percent

The TAIEX closed down 0.07 percent yesterday as investors adopted a wait-and-see attitude with the Lunar New Year holiday approaching, dealers said.

The benchmark index slid 6.59 points to 8,947.79, after moving between 8,927.49 and 8,993.56, on turnover of NT$94. 53 billion (US$3.25 billion), the lowest volume for two months.

A total of 1,396 stocks closed up, 2,800 finished down, and 418 remained unchanged.

Hon Hai sues Suyin Corp

Suyin Corp (實盈) said it has hired lawyers to defend it in legal proceedings brought by Hon Hai Precision Industry Co (鴻海), the Taipei-based company said in a statement to the Taiwan Stock Exchange yesterday. The lawsuit would not affect the company’s sales or shipments, the statement said.

Hon Hai’s Chinese unit sued Suyin’s China unit in Dongguan for allegedly infringing its patents for central processing unit sockets, Hon Hai said. The suit was filed with the Dongguan Intermediate People’s Court.

Exports to grow by 10%

Taiwan will likely see 10 percent growth in exports this year thanks to the landmark trade pact signed between Taiwan and China last year, Minister of Economic Affairs Shih Yen-shiang (施顏祥) said yesterday.

The Economic Cooperation Framework Agreement (ECFA) has further liberalized trade across the Taiwan Strait and created tariff reductions, Shih said in a keynote speech delivered at Academia Sinica.

The market-opening moves stipulated in the ECFA will also create new business opportunities in Taiwan, Shih added.

Against this backdrop, the minister said, “there should be no problem in achieving 10 percent growth in exports this year.”

Meanwhile, Shih forecast that the ECFA will attract an estimated NT$1.1 trillion (US$34.4 billion) in private investment to Taiwan this year.

CEPD targets 4.9% jobless rate

The Council for Economic Planning and Development (CEPD) set a target of 4.82 percent for economic growth this year, it said in an e-mailed statement yesterday.

The council also targeted a jobless rate of 4.9 percent this year, according to the statement.

GFS secures Asiaworld floor

Global Funeral Service Co (GFS, 國寶服務) yesterday won the second foreclosure auction for the second floor in the Asiaworld Department Store (大亞百貨) right in front of Taipei Train Station for NT$574 million, the Taipei District Court said.

The funeral service provider won the second floor, which measures 783.7 ping (2,586m2) and is currently leased to an asset management firm, with a 25 percent premium on expectation of a 4 percent return.

The result of the auction translated into NT$733,500 per ping while the monthly rental is NT$2,500 per ping.

CHT returns to local bourse

Shares in Chunghwa Telecom Co (CHT, 中華電信) are scheduled to resume trading on the local stock market at NT$88.87 per share today.

The stock has been uspended from trading since Jan. 7 because of a 20 percent reduction in the firm’s paid-in capital from NT$96.97 billion to NT$77.57 billion.

NT dollar up against US dollar

The New Taiwan dollar rose against the US dollar yesterday, gaining NT$0.1 to close at NT$29.32 on demand for the local currency from exporters and foreign banks, dealers said.

Turnover totaled US$806 million during the trading session.

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