High-tech shares boost TAIEX
The high-tech sector steamed ahead yesterday, pushing the TAIEX higher to close above the 7,500 point mark as investors took cues from Apple Inc’s solid earnings growth for the quarter to last month, dealers said.
In particular, firms in the Apple supply chain — so-called “Apple-concept” stocks — got a boost from strong sales of the US consumer electronics giant’s devices, while buying among local flat panel suppliers emerged after LG Display Co of South Korea gave an upbeat earnings forecast for the second quarter of this year, the dealers said.
However, turnover remained thin as many investors were reluctant to chase prices amid lingering concerns over the possible introduction of a capital gains tax on stock investments, as well as global economic fundamentals, they said.
The TAIEX closed up 64.34 points, or 0.86 percent, at 7,563.18, after moving between 7,525.69 and 7,569.25, on turnover of NT$68.95 billion (US$2.34 billion).
HTC shares hurt by dividend
Shares of smartphone vendor HTC Corp (宏達電) came under pressure yesterday as its proposed dividend payout for last year fell below market expectations, dealers said.
Investors were also disappointed with the sales guidance HTC gave on Tuesday for the second quarter and rushed to dump the stock soon after the market opened, they said.
Shares of the world’s No. 5 smartphone brand fell 1.67 percent to close at NT$470.50.
HTC’s board proposed on Tuesday to issue a NT$40 cash dividend per share for last year after the firm posted earnings per share of NT$73.32 for the year.
The company said it expected sales for the second quarter to rise to NT$105 billion, from NT$67.79 billion in the first quarter.
Rotam shares jump after listing
Shares of Rotam Global AgroSciences Ltd (龍燈環球農業科技), a Hong Kong-headquartered agrochemical manufacturer, rose sharply on its first day of trading on the Taiwan Stock Exchange yesterday amid optimism toward its bottom line, dealers said.
Rotam shares rose 5.17 percent from its issue price of NT$85 to close at NT$89.40, with 6.59 million shares changing hands.
The stock reached as high as NT$95 before pulling back in line with the broader market.
Delta Electronics saves energy
Taiwan-based Delta Electronics Inc (台達電) saved some 3.3 billion kilowatt hours of electricity for clients with its energy-efficient devices and solutions last year and was thus called “the king of energy saving” by President Ma Ying-jeou (馬英九) on Tuesday.
The saved electricity equaled a reduction of 1.83 million tonnes of carbon dioxide emissions and accounted for a 10 percent year-on-year increase in terms of energy saving.
Delta Electronics, a major global provider of power management solutions, published the figures in its Corporate Social Responsibility report for last year, released at the 2012 Hannover Messe, the world’s largest industrial fair, in Germany on Tuesday.
NT dollar gains ground
The New Taiwan dollar gained ground against the Taiwan dollar yesterday, adding NT$0.012 to close at NT$29.514 as demand for the local currency was boosted by a rebound on the local bourse, dealers said.
A recovery in the euro also prompted traders to cut their greenback holdings as concerns over the debt crisis in the eurozone eased, they said.
Turnover totaled US$497 million during the trading session.