Shares slide on S&P move
Taiwan’s benchmark stock index made a pullback yesterday, snapping a two-day winning streak, over renewed concerns over the debt problems in the eurozone after Standard & Poor’s (S&P) downgraded the credit ratings on 37 of the largest banks in the world, dealers said.
The S&P downgrades prompted investors to dump local financial stocks amid fears that the current financial turmoil would further squeeze the global financial sector’s bottom line, while the spikes in the government bond yields in Italy raised concerns over the escalating debt crisis, they said.
The TAIEX closed down 84.53 points or 1.21 percent at 6,904.12, after moving between 6,860.05 and 7,001.59, on turnover of NT$93.87 billion (US$3.09 billion).
First, Century pact possible
First Commercial Bank (第一銀行), the banking unit of First Financial Holding Co (第一金控 ), writedowns NT$303 million for ProMOS Technologies Inc’s (茂德科技) overseas convertible bonds, First Financial said in a statement to the Taiwan Stock Exchange yesterday.
Separately, First Securities Inc (第一金證券) plans to sign a cooperation agreement with China’s Century Securities Co (世紀證券) after getting regulatory approval, First Financial said in a separate exchange statement.
Acer wins Australia deal
PC maker Acer Inc (宏碁) yesterday said it has won a Queensland Department of Education and Training (DET) tender to supply 65,000 3G notebook computers for round three of the National Secondary School Computer Fund by the end of this year, according to a company statement.
“The rollout of high-end, 3G laptops has never been done before in Australia, let alone on this scale,” David O’Hagan, chief information officer at the DET, said in Acer’s statement.
Fujimi building R&D center
Fujimi Inc, the world’s No. 3 supplier of chemical-mechanical polishing slurry used in chip manufacturing, is set to start construction of a production line and a research and development (R&D) center in Hsinchu Science Park today.
Fujimi planned to invest NT$1 billion in the three years to 2013, the company said in a statement yesterday.
Taiwan would be Fujimi’s first research center outside Japan, as the Fujimi’s Web site indicates that it operates only one in Kakamigahara in Japan’s Gifu Prefecture.
Eee Transformer wins award
The Eee Pad Transformer produced by Taiwan-based Asustek Computer Inc (華碩電腦) has taken the product of the year title at this year’s TrustedReviews awards, a UK Web site that provides expert reviews of the latest consumer electronics, IT and computing products.
In addition, the Transformer, a lightweight laptop that features a removable keyboard, beat Apple Inc’s MacBook Pro 15-inch and the iPad 2 to win the laptop of the year and tablet of the year awards.
TrustedReviews said the 16-hour battery life, stable operation and flexibility of the device were the winning features. Last month, it was also named tablet of the year by T3, another gadget Web site.
NT dollar in third-day rise
The New Taiwan dollar rose against the US currency yesterday, adding NT$0.067 to close at NT$30.345, as an increase in fund demand from the business sector at the end of the month pushed up the local currency, dealers said.
Further buying by foreign institutional investors on the local bourse also boosted the value of the NT dollar, helping the unit score gains for the third consecutive trading session, they said.