TAIEX erases rebound
The nation’s benchmark index pulled back yesterday from a rebound in the previous session, as investors took cues from an overnight tumble on Wall Street amid fears that the debt crisis in the eurozone had returned to haunt market sentiment, dealers said.
Furthermore, a cut in the fourth-quarter sales forecast by Intel Corp, the world’s largest chipmaker, has raised concerns over the global PC sector’s profitability, dealers said. The US company is expecting that PC makers’ output would be affected by a hard-disk drive shortage, which resulted from the recent flooding in Thailand, they added.
The TAIEX closed down 52.73 points, or 0.76 percent, at 6,896.31, after moving between 6,850.88 and 6,919.68, on turnover of NT$60.41 billion (US$1.99 billion).
3D glasses test developed
Taiwan has developed equipment to test the quality of 3D glasses, which could eventually give the country’s manufacturers an edge in overseas markets, the Ministry of Economic Affairs said yesterday.
The 3D eyewear testing equipment, developed by the Industrial Technology Research Institute (工研院), could help launch an initiative for Taiwan to create an international 3D display standard, the ministry said.
Many countries are competing to establish such a standard, but if Taiwan emerges as the winner, its 3D display manufacturers would gain an advantage in international markets, according to the ministry.
Lai Yueh-yi (賴岳益), a researcher at the institute’s Center for Measurement Standards, said the newly developed testing equipment could provide coefficient data to manufacturers to help them improve the quality of their 3D products.
TCFHC stays put
The newly-established Taiwan Cooperative Financial Holding Co (TCFHC, 合作金控) has no intention of expanding into the capital-leasing business because of a lack of experience, chairman Liu Teng-cheng (劉燈城) said yesterday.
Liu made the statement in the wake of domestic peers setting up capital-leasing firms in China to take advantage of higher interest rates there on capital equipment financing.
“We favor more conservative expansion after conducting an assessment on the issue,” Liu said.
The nation’s fourth-largest financial service provider by assets plans to organize investors’ meetings both in English and Mandarin in the second half of next year so investors can better understand its financial performance, Liu said.
Chinese buying group coming
A purchasing group of 233 Chinese businesses is scheduled to visit Taiwan today for talks with domestic suppliers, according to the Taiwan External Trade Development Council (TAITRA).
Three-hundred and fifty local businesses are expected to participate in the talks, including Formosa Chemicals & Fibre Corp (台灣化纖), Chi Mei Corp (奇美實業), Oceanic Beverages Co (大西洋飲料) and food supplier Hey-Song Corp (黑松), TAITRA said on Monday.
The Chinese buyers include Shanghai FamilyMart Co (上海全家便利商店), Nanpu Food Co (南浦食品) and Golden Eagle Retail Group (金鷹商貿集團), it said.
The buyers will be looking to purchase goods in the automobile component, textile, machinery, medical device, base chemical, and agricultural sectors, TAITRA said.
NT dollar drops on euro worries
The New Taiwan dollar lost ground against the US currency yesterday, declining NT$0.03 to NT$30.260, as the local currency weakened to reflect a falling euro after three major ratings agencies expressed concern over the debt situation in the eurozone, dealers said.