TAIEX rebounds 0.8 percent
The TAIEX staged a technical rebound yesterday, recovering from a steep decline in the previous session, as concern over the debt situation in the eurozone eased to some extent after debt-ridden Italy’s bond auction sent yields slightly lower, dealers said.
Despite the advance, turnover remained thin, capping gains for market heavyweights, as investors sat on the sidelines amid lingering concern over the global economic outlook, they said.
The weighted index closed up 58.61 points, or 0.8 percent, at 7,367.29, on turnover of NT$83.55 billion (US$2.77 billion).
Chunghwa sets 1.5m goal
Chunghwa Telecom Co (中華電信), the nation’s biggest telecoms operator, said on Thursday that it aimed to increase its number of Internet TV subscribers by 50 percent to 1.5 million next year after hitting the 1 million mark last month.
The company currently provides 133 channels, including 41 high-definition channels via its Internet TV brand, MOD.
Chunghwa Telecom said last month net income grew about 11 percent to NT$4.1 billion, from NT$3.69 billion in September, while revenues edged up only 0.1 percent to NT$15.79 billion from NT$15.78 billion.
Intel to buy Insyde bonds
Intel Corp signed an agreement to buy Insyde Software Corp’s (系微) convertible bonds in a private placement, the Taipei-based company said in a statement to the stock exchange yesterday.
Insyde will issue NT$300 million of 3.5 year unsecured bonds to boost working capital, the statement said. It did not give details of Intel’s purchase.
Taiwan wants to join TPP
Government officials on Thursday expressed the nation’s strong desire to join the Trans-Pacific Partnership Agreement (TPP) and received positive reactions from the bloc’s member countries that were attending an APEC senior officials’ meeting in Hawaii.
Bureau of Foreign Trade Director-General Cho Shih-chao (卓士昭) said the Taiwanese delegation at the APEC meeting talked with officials from key members of the TPP, including the US, about the interest in the free-trade agreement, and received positive reactions.
He did not elaborate.
Polysilicon borrows NT$10.7bn
Taiwan Polysilicon Corp (福聚太陽能), which manufactures and supplies polysilicon for solar cell production, signed NT$10.7 billion in loans due in November 2016, according to data compiled by Bloomberg.
Proceeds will be used to refinance debt and the loan should be repaid in nine equal annual installments starting 12 months from the first drawdown date, the data show.
Taiwan Power sells bonds
Taiwan Power Co (台電) sold NT$17.9 billion of bonds in three tranches, the company said in an e-mailed statement yesterday.
The state-run company will pay 1.32 percent annual interest on the NT$7.5 billion five-year debt priced yesterday, 1.46 percent on the NT$2.9 billion seven-year notes and 1.58 percent on NT$7.5 billion 10-year bonds, it said.
NT dollar rises slightly
The New Taiwan dollar rose NT$0.074 against the US dollar yesterday to close at NT$30.188, as currencies in the region staged a rebound, led by a recovering euro, dealers said.
Turnover was US$612 million.
Sentiment toward the euro improved as the 10-year government bond yield in debt-ridden Italy fell below the psychological threshold of 7 percent after Rome successfully auctioned off a batch of new bonds overnight, dealers said.
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