Tue, Oct 18, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

Shares rise on US surge

Share prices rose 1.4 percent yesterday, boosted by a surge on Wall Street and in European markets on Friday amid signs that the euro debt crisis was stabilizing.

The TAIEX rose 103.04 points to close at 7,461.12 after moving between 7,475.06 and 7,401.3 on turnover of NT$82.84 billion (US$2.74 billion).

A total of 2,333 stocks closed up, 1,527 were down and 482 remaining unchanged.

The eight main sectors on the exchange all finished higher, with food shares scoring the biggest gains, rising 3.38 percent.

Five-year bonds sold

The government sold NT$40 billion of five-year bonds at a yield of 1.08 percent at an auction yesterday, the central bank said.

The sale attracted bids for 1.49 times the amount on offer, the central bank said in a statement. The government last sold five-year debt in July at a yield of 1.18 percent. That offer had a bid-to-cover ratio of 1.85 times.

The yield compared with the 1.05 percent median estimate in a Bloomberg News survey of five finance companies.

The banking industry, which was the biggest buyer at the last auction, took 28.9 percent of the bonds on offer, down from 41.7 percent.

E.Sun sells seven-year debt

E.Sun Commercial Bank (玉山銀行), the banking arm of E. Sun Financial Holding Co (玉山金控), sold NT$2.9 billion of seven-year unsecured subordinated debt at an annual interest of 1.8 percent, E.Sun Financial said in a statement to the Taiwan Stock Exchange yesterday.

The proceeds would be used to strengthen capital structure and enhance capital adequacy ratio, the statement said.

Compeq to sell off assets

Compeq Manufacturing Co (華通電子) plans to sell 37 percent of Panasonic Electric Works Electronic Materials Taiwan Co (台灣松電工多層材料) for NT$524 million to Panasonic Electric Works Co, the holder said in a statement to the stock exchange yesterday.

Compeq could gain NT$25 million from the sale, the printed-circuit-board maker said in the statement.

Shining buys land in Nanjing

Shining Building Business Co (鄉林建設), a property developer based in Greater Taichung, has bought the rights to use 50,855m2 of land in China’s Nanjing city for 678 million yuan (US$106 million), the company said in a stock exchange statement yesterday.

The land will be developed into a hotel, offices, stores and apartments, Shining Building said.

EVA wins award for ‘Elite Class’

EVA Airways Corp (EVA, 長榮航空), the nation’s second-largest air carrier, has been awarded a Magellan award by Travel Weekly magazine for its “Elite Class,” the airline announced yesterday.

EVA Airways said its “Elite Class” — priced only slightly higher than economy class — was awarded Travel Weekly’s Airlines and Airports Gold Winner in this year’s Magellans in the economy class category.

It was chosen for the carrier’s success in highlighting the theme of “economy becomes a pleasure,” with its comfortable seating, personal entertainment units and gourmet cuisine, according to a panel of industry experts at the magazine.

The airline said the category offers passengers regular business class seating with a seat pitch of 38 inches and personal entertainment units equipped with an 8.4-inch LCD touch-screen TV.

NT dollar rises to NT$30.1

The New Taiwan dollar rose against the US currency yesterday, adding NT$0.2 to close at NT$30.1.

Turnover totaled US$802 million during the trading session.

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