Sat, Jun 04, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

TAIEX rebounds 0.61%

Taiwan’s benchmark index staged a technical rebound yesterday as investors resumed buying in the bellwether electronics sector after a sell-off in the previous session, dealers said.

However, turnover shrank to less than NT$100 billion (US$3.47 billion), as many investors took to the sidelines amid concerns over the US economy ahead of the release of the country’s jobless data for last month, they said.

The TAIEX rose 54.92 points, or 0.61 percent, to 9,046.28, after moving between 8,997.35 and 9,052.18 on turnover of NT$90.97 billion.

MOF to buy back T-bills

The Ministry of Finance (MOF) said yesterday it would buy back three batches of Treasury bills (T-bills) worth a combined NT$75 billion on June 13 ahead of their maturity.

The 91-day, 182-day, and 273-day Treasury bills are due to mature on Aug. 2, Aug. 26 and Dec. 28 this year, the ministry said in a statement.

HTC tops Asia tech list

The Chinese-language Business Next magazine said on Thursday that smartphone maker HTC Corp (宏達電) tops the lists on both Taiwan and Asia’s top 100-rated technology corporations.

The Taipei-based magazine ranked regional technology firms on five indicators: revenue, revenue growth, return on equity, profitability and return on investment.

On the “Top 100 Tech Firms in Asia” list, companies benefiting from the rapidly growing smartphone market were listed among the top 10, including HTC (No. 1), Taiwan Semiconductor Manufacturing Co (TSMC, 台積電, No. 3), Advanced Semiconductor Engineering Inc (ASE, 日月光半導體, No. 6) and Delta Electronics Inc (台達電, No. 10).

Seizing the top 10 spots on the “Top 100 Tech Firms in Taiwan” list were HTC, TSMC, ASE, Sino-American Silicon Products Inc (中美晶), Gintech Energy Corp (昱晶), Taiwan Mobile Co (台灣大哥大), Delta Electronics, Neo Solar Power Corp (新日光), Motech Industries Inc (茂迪) and Largan Precision Co (大立光).

China Steel posts profits

China Steel Corp (中鋼), the nation’s largest integrated steel maker, yesterday posted a pretax profit of NT$3.3 billion for last month, down 12.02 percent from the previous month, as high raw material costs eroded gains in sales volume.

The Kaohsiung-based steelmaker said in a company statement that revenue for last month increased slightly by 0.5 percent to NT$21.19 billion from the previous year.

MOF probe targets year-end

The MOF said yesterday it was looking to finish the investigation of 2,200 short-term transactions on presale homes in northern Taiwan by the end of this year.

Most of these transactions belong to construction projects in New Taipei City’s (新北市) Sinjhuang (新莊), Banciao (板橋), Sanchong (三重), Tamsui (淡水) and Linkou (林口) districts, as well as in Hsinchu, an official at the National Tax Administration said.

The administration has seized a total of NT$33.88 million in evaded taxes on 45 transactions on presale homes since last year, the official said, adding that people who sell a presale property are subject to an income tax of up to 40 percent.

NT dollar makes gains

The New Taiwan dollar gained ground against the US dollar yesterday after Moody’s warned it would consider downgrading the US’ credit rating if Washington fails to make progress in raising the country’s debt ceiling, dealers said.

The NT dollar rose NT$0.035 against the US dollar at NT$28.750 on turnover of US$755 million.

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