TAIEX rebounds 2.39 percent
The TAIEX rebounded 2.39 percent yesterday, edging toward a two-week closing high. The rebound was fueled by a surge on Wall Street and in European markets on Friday amid signs that global markets are stabilizing.
The TAIEX rallied 182.37 points to close at 7,819.39, after moving between 7,775.82 and 7,748.46 on turnover of NT$92.438 billion (US$3.19 billion).
A total of 3,179 stocks closed up and 1,240 were down, with 423 remaining unchanged.
In the broader market, all sectors closed up, of which the foodstuffs sector scored the highest gains, finishing up 4 percent.
Office workers fond of gadgets
A total of 65.5 percent of the nation’s office workers have a smartphone or a tablet computer, according to the results of a recent online poll.
The 1111 Job Bank survey, conducted between July 26 and Aug. 8, found that smartphones are the most popular device owned by local office workers.
Other popular high-end products among office workers were tablet computers, such as Apple Inc’s iPad.
The survey also found that on average, every 1.08 office workers owns one of these devices.
Collecting 1,160 effective samples by e-mail, the survey had a confidence level of 95 percent and a sampling error of plus or minus 2.88 percentage points.
SMIC’s Simon Yang resigns
Semiconductor Manufacturing International Corp (SMIC, 中芯), China’s biggest chipmaker, said the company’s chief operating officer Simon Yang (楊士寧) resigned, according to a statement to the Hong Kong stock exchange yesterday.
Yang’s resignation will take effect on Sept. 5 and SMIC will arrange to appoint his replacement “as soon as practicable,” the -company said in a statement, without saying why he resigned.
On Aug. 5, SMIC appointed Chiu Tzu-yin (邱慈雲) as CEO and executive director of the company after David Wang (王寧國) resigned from the post last month.
SMIC last month also named Zhang Wenyi (張文義) its new chairman, after his predecessor Jiang Shangzhou (江上舟) died in June.
Firms team to tap China market
Hollywood studio Relativity Media said it is partnering with two companies to make Chinese films for global audiences and distribute movies in the fast growing Chinese market.
The partnership teams Relativity with private equity firm SAIF Partners and IDG China Media, an investment arm of Boston-based International Data Group.
Relativity will also distribute future films in China through a joint venture called SkyLand, in which the three companies are co-owners. SkyLand will also invest in local film and TV production.
Bright Food announces deal
China’s Bright Food Group (光明食品) said yesterday it had agreed to buy a 75 percent stake in Australia’s Manassen Foods, as it seeks to become a major global industry player.
Bright Food did not disclose how much it would pay for the controlling stake in Manassen Foods, but called the deal mutually beneficial.
The Wall Street Journal reported that Bright Food would buy about a 75 percent stake of Manassen Foods from Champ Private Equity, valuing the entire food firm at more than US$520 million.
NT dollar up against greenback
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.057 to close at NT$28.952.
Turnover totaled US$559 million during the trading session.