TAIEX gains after Greek polls
The TAIEX yesterday rallied 1.76 percent, led by gains in the electronics and financial sectors and in old-economy shares after the result of parliamentary elections in Greece eased fears of global financial turmoil, but dealers said gains might be limited.
The weighted index ranged between a high of 7,302.82 and a low of 7,262.80 before closing up 125.67 points at 7,281.50 on turnover of NT$83.27 billion (US$2.79 billion).
The TAIEX, which opened 139.72 points higher, took its lead from sharp rises in US stock indices last Friday and more favorable measures offered by China that include an extended credit of 600 billion yuan (US$94.36 billion) to Taiwanese enterprises over the next three or four years.
A total of 3,410 stocks closed up and 1,220 finished down, while 274 remained unchanged.
Economics officials to meet
Policymakers in the economic affairs and finance ministries will meet today to devise ways to boost the economy now that the debt situation in Europe appears to be stabilizing, the Cabinet said yesterday.
They will attempt to come up with plans for short and long-term improvements to the economy, the Cabinet said.
Premier Sean Chen (陳冲) has directed the relevant ministries to come up with short-term plans to ensure financial and consumer price stability, and growth in the areas of employment, investment, exports and domestic demand, according to Cabinet spokesman Hu Yu-wei (胡幼偉).
In the mid to long-term, the ministries have been asked to improve the industrial structure, marketing, sales of goods and services, and labor quality, Hu said.
Taiwan hosting conference
Taiwan is scheduled to host several events to facilitate exchanges with China in the LCD monitor and LED industries, including a panel industry conference today.
A 90-member Chinese delegation, headed by Chinese Industry and Information Technology Vice Minister Yang Xueshan (楊學山), will attend the conference, said the Taiwan External Trade Development Council (TAITRA), the organizer of the event.
The delegation includes China Video Industry Association president Bai Weimin (白為民) and representatives of Chinese enterprises Skyworth (創維), TCL Corp, Tencent Group (騰訊) and Sina Corp (新浪).
During the conference, HTC Corp (宏達電) is expected to forge partnerships with Tencent and Sina, while Chimei Innolux Corp (奇美電) and Au Optronics Corp (友達) are expected to sign procurement agreements with China’s major TV set manufacturers, TAITRA said.
Hsinchu seeks marine ties
Hsinchu County Commissioner Chiu Ching-chun (邱鏡淳) yesterday said he hoped direct marine transportation links could be launched between his county and Pingtan, a Beijing-controlled island off China’s Fujian Province.
A direct service between Pingtan and Hsinchu’s Nanliao Harbor would save time, labor and distribution costs in trade between the two sides, Chiu said.
Chiu, heading a 50-member Taiwanese delegation, is on a visit to Pingtan Island for a cross-strait forum and sand sculpture festival that began on Sunday.
Chiu said the Liner Straits, a high-speed passenger ship that operates between Pingtan and Greater Taichung, is capable of carrying more than 700 passengers and 120 vehicles.
NT dollar gains ground
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.045 to close at NT$29.886.