TAIEX hit by profit concerns
Profit concerns triggered by high-tech firms’ lower-than-expected first-quarter results sent the TAIEX tumbling below the 9,000-point mark yesterday, dealers said.
“China concept stocks,” which have set up strong footholds in China, also encountered selling pressure as investors were disappointed with Chinese consumption figures during the shortened Labor Day holiday, they said.
The TAIEX closed down 61.79 points, or 0.69 percent, at 8,946.08, after moving between 8,895.25 and 9,018.25 on turnover of NT$123.79 billion (US$4.31 billion).
Exports rank 16th: WTO
Exports jumped 35 percent last year and pushed Taiwan up one notch to 16th-highest in the world, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
Taiwanese outbound shipments last year reached US$274.6 billion, thanks to a recovering global economy, WTO figures show, the DGBAS said.
In terms of imports, Taiwan ranked 17th, with inbound shipments surging 44 percent last year to US$251.2 billion.
China topped the rankings with an export value of US$1.58 trillion, up 31 percent year-on-year. The US and Germany placed second and third respectively.
US exports rose 21 percent year-on-year to US$1.28 trillion, while Germany’s climbed 13 percent to US$1.27 trillion.
The US placed first in imports, with US$1.97 trillion, followed by China with US$1.4 trillion and Germany with US$1.07 trillion.
DRAM makers’ sales vary
DRAM maker Nanya Technology Corp (南亞科技) said yesterday sales last month rose almost 20 percent from March, while smaller maker Inotera Memories Inc (華亞科技) saw revenue in the month fall more than 10 percent.
Nanya Technology said sales last month climbed 18.7 percent to NT$4.44 billion (US$153 million) on the back of higher shipments and a recovery in average selling prices.
In contrast, lower shipments dragged down Inotera’s sales last month by 11.8 percent to NT$3.2 billion.
Product prices are expected to rise further this month on growing demand, Nanya Technology said.
Broadband rate plans pass
The National Communications Commission (NCC) on Monday approved a promotional plan submitted by Chunghwa Telecom Co (中華電信) for 20 megabyte and 50 megabyte broadband service.
During a promotional period of six months, the retail price for the 20 megabyte service will drop from a nominal price of NT$1,389 to NT$1,039, while that for its 50 megabyte service will be reduced from NT$1,700 to NT$1,199.
The commission also required Chunghwa Telecom to lower its wholesale price to other telecom operators.
“We wanted to make sure that the promotional plan will not affect other operators and place them at a disadvantage,” NCC spokesperson Chen Jeng-chang (陳正倉) said on Monday.
Yuanta sells NT$10bn in bonds
Yuanta Financial Holding Co (元大金控) sold NT$10 billion in bonds in two tranches, to help repay maturing debt and fund acquisitions, the Taipei-based company said in a statement to the Taiwan Stock Exchange yesterday.
The company will pay an interest of 1.3 percent on the NT$5.5 billion three-year notes priced yesterday, and 1.5 percent on the NT$4.5 billion five-year debt, according to the statement.
NT dollar gains ground
The New Taiwan dollar yesterday rose NT$0.06 to close at NT$28.702 against the US dollar on turnover of US$798 million.