Shares end losing streak
The TAIEX ended a four-session losing streak yesterday to close in positive territory as select high-tech stocks, in particular the firms in Apple’s supply chain, staged a rebound, dealers said.
The financial sector also attracted buying on expectations that Taiwan and China would conclude negotiations and sign an agreement during the next round of high-level cross-strait talks to set up a currency settlement mechanism, they said.
The weighted index closed up 45.08 points, or 0.63 percent, at 7,183.01, after moving between 7,127.98 and 7,199.32 on turnover of NT$54.39 billion (US$1.82 billion).
HTC to improve connectivity
Smartphone maker HTC Corp (宏達電) announced on Tuesday a certification program called “HTC Connect” designed to improve connectivity between HTC devices and other consumer electronics.
The HTC One series of smartphones is scheduled to receive HTC Connect certification through a software update in the next few months, the company said in a statement.
The world’s No. 5 smartphone vendor also announced a partnership with Pioneer Electronics Inc, a US digital entertainment equipment maker, to bring HTC Connect certified devices to market.
TransAsia adds Japan services
TransAsia Airways Corp (復興航空), one of the three listed Taiwanese airlines, announced on Tuesday that it would launch six Japanese routes by the end of next week, following the implementation of an open skies policy by Taiwan and Japan late last year.
The first route is scheduled to be launched today between Taiwan Taoyuan International Airport and Osaka, the airline said in a statement.
After that, TransAsia would launch five other routes next week, with the destinations being Okinawa, Hakodate, New Chitose, Asahikawa and Kushiro.
Street lamps to be replaced
The government plans to replace 40 percent of the nation’s mercury vapor street lamps with LED lamps as part of efforts to save energy and reduce carbon emissions, the Ministry of Economic Affairs said on Tuesday.
The ministry plans to replace 326,000 street lamps with LED lamps in five municipalities and 17 counties and cities nationwide, a move that is expected to benefit the country’s LED industry. The installation process is expected to be completed in the middle of next year, it said.
Replacement of the 326,000 mercury vapor lamps with LEDs is expected to create savings of 143 million kilowatt-hours, or about NT$358 million in electricity fees, each year, the ministry said.
Powerchip boss sentenced
Powerchip Technology Corp (力晶科技) chairman Frank Huang (黃崇仁) was sentenced yesterday to three years and six months in prison for insider trading in 2005 and 2006, according to a ruling by the Taiwan High Court.
Huang bought NT$360 million of Macronix International Co (旺宏) shares via his relatives and Powerchip’s subsidiaries, before the memory chipmakers Powerchip and Macronix inked a memorandum of understanding to buy a 12-inch factory from Macronix in January 2006.
In addition, Huang was given another six months in prison for breach of trust.
Powerchip said Huang would appeal the ruling.
NT dollar edges higher
The New Taiwan dollar rose against the US dollar yesterday, edging up NT$0.03 to close at NT$29.960.
Turnover totaled US$630 million during the trading session.