G7 agreement boosts shares
The TAIEX ended higher yesterday after the G7 agreed to cooperate on currency intervention to stop the yen’s rise.
The benchmark index edged up 112.06 points, or 1.35 percent, to 8,394.75 on turnover of NT$127.58 billion (US$4.31 billion).
A total of 3,413 stocks closed up, 1,124 down and 376 remained unchanged, according to data from the Taiwan Stock Exchange.
Nuclear plant exposure revealed
Taiwanese insurance companies have a total of NT$896 million in exposure to Japan’s Fukushima Dai-ichi nuclear power plant through 13 companies, the Financial Supervisory Commission said in a statement on its Web site yesterday.
The financial regulator met with the chairs of six local banks yesterday and urged them to monitor risk management on property loans, another statement released by the commission said.
Cycle Show visitors up 9%
The Taiwan External Trade Development Council (TAITRA, 貿協) said yesterday in a statement that despite some cancelations by visitors from Japan and those whose flights would have had to transit in Japan, 3,823 international visitors attended the first day of the Taipei Cycle Show, up 9 percent year-on-year.
The international trade fair is being held at the Nangang Exhibition Hall, hosting 948 companies from 36 countries.
Notebook firms upbeat
Taiwan’s notebook computer manufacturers said yesterday that the recent earthquake and tsunami in Japan have had little impact on their sector, despite concerns that the catastrophe could affect the supply of parts and components.
The computer makers said there was no need to worry about the situation because substitutes can be readily found for products that use Japanese components. Furthermore, suppliers currently have between four and six weeks of inventory, which means shipments this month and next month would not be affected.
On expectations that the disaster in Japan would result in a transfer of manufacturing orders from Japan to Taiwan, the computer makers said such transfers would bring “limited” benefit, since 85 percent to 90 percent of notebook computers marketed worldwide are already produced by Taiwanese manufacturers.
Board approves cash dividend
Formosa Chemicals & Fibre Corp’s (台灣化纖) board approved a plan to pay a cash dividend of NT$7.5 per share on last year’s earnings, the company said in a statement to the Taiwan Stock Exchange yesterday.
The board also approved a plan to issue NT$10 billion in bonds, said the company, which is a unit of Formosa Plastics Group (台塑集團), the nation’s largest diversified industrial group.
Lexus recalls three models
The manufacturer of Lexus vehicles has issue a recall over a flawed floor mat, the Consumer Protection Commission said yesterday.
The cars being recalled are RX330s made between Feb. 10, 2003, and Jan. 16, 2006; RX350s that rolled out of the plant between Aug. 31, 2005, and July 26, 2006; and RX400h models produced on May 18, 2006.
The recall, which could involve up to 11,646 vehicles, was issued because of a flawed decorative device on the front-left floor mat that could loosen and interfere with the accelerator pedals.
NT dollar edges lower
The New Taiwan dollar was little changed yesterday, trading down NT$0.026 to close at NT$29.60 against the US dollar, according to Taipei Forex Inc.
The local currency reached NT$29.647 on Thursday, its weakest level since March 3.
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and