Tue, Mar 22, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Taipei Forex Inc data showed. Staff Writer, with Agencies

TAIEX rises, but turnover low

The TAIEX closed up 0.87 percent yesterday as concern over Japan’s nuclear crisis eased, dealers said.

The weighted index closed 72.96 points higher at 8,467.71, but turnover was low at NT$97.55 billion (US$3.3 billion).

The plastics and chemicals sector posted the biggest gains, ending 1.5 percent higher. Analysts attributed the increase to rising demand following Japan’s devastating earthquake and higher international oil prices.

Textiles jumped 1.3 percent, the financial sector added 1.3 percent, while paper and pulp shares were up 0.8 percent.

E-ton president resigns

Solar cell maker E-ton Solar Tech Co (益通光能) yesterday announced the resignation of Ian Chao (趙伊尹) as president, it said in a filing to the Taiwan Stock Exchange.

His resignation came after notebook maker Inventec Corp (英業達) bought a 36.77 percent stake in the solar cell maker in January for NT$5.06 billion. The investment made Inventec the biggest shareholder of E-ton.

Inventec senior vice president Alex Hsu (徐信群) will take over Chao’s position.

Nanya board agrees share sale

The board of Nanya Technology Corp (南亞科技) approved a plan to sell as many as 700 million new shares to raise funds to buy equipment, repay debts and replenish working capital, the nation’s biggest PC chipmaker said in a statement to Taiwan Stock Exchange yesterday.

FSC tightens mortgage rules

The Financial Supervisory Commission said yesterday it would raise the risk factor on non-self-use home loans and step up inspections on mortgage operations.

The move was the latest by the government to cool the property market after home and construction loans accounted for 34 percent of the nation’s total lending, a five-year high.

The commission asked banks to apply stricter risk factors on home loans not intended for self-use, adding that it would update its definition of “self-use” properties.

The commission also instructed lenders to keep mortgage and construction lending below 30 percent of total loans and ensure that property values match their market worth and the loans have sufficient collateral.

Mortgage operations will top the commission’s financial inspections, the commission said.

TWM launches HD game

Taiwan Mobile Co (TWM, 台灣大哥大), the nation’s second-largest telecoms operator, launched high-definition (HD) mobile games by US video game producer Electronic Arts Inc (EA) yesterday in a bid to become a major player in this rapidly growing market.

Eight HD games, including the popular The Sims3 HD role-playing game, went on sale for Android smartphones, priced between NT$60 and NT$90, said Jeff Ku (谷元宏), deputy chief operating officer of the consumer business group.

The latest games will also be available for non-Taiwan Mobile wireless service subscribers in the second quarter through credit card payment, he added.

NT edges up 0.17 percent

The New Taiwan dollar gained yesterday, snapping a two-day drop, on speculation that intervention by the G7 to curb the yen’s rally would stabilize the market and boost demand for emerging-market currencies.

The currency advanced the most in a week after G7 nations followed Japan’s lead and sold the currency after it reached a postwar high on Thursday.

The NT dollar strengthened 0.1 percent, the most since Monday last week, to NT$29.572 against its US counterpart,

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