TAIEX rises 0.3 percent
The TAIEX closed moderately higher yesterday on rotational buying, but stiff technical resistance ahead of 7,500 points kept a cap on gains by the end of the session, dealers said.
Thin turnover showed that investors were cautious about the global economy and corporate second-quarter results, while the latest adjustments in MSCI indices failed to give strong hints to investors to trade, the dealers said.
The weighted index closed up 22.47 points, or 0.30 percent, at 7,490.21 after moving between 7,456.40 and 7,515.02 on turnover of NT$78.05 billion (US$2.6 billion).
Delta to buy Luxeon trademarks
Delta Electronics Inc (台達電), the nation’s biggest supplier of power supply units, said yesterday it planned to buy several trademarks from Luxeon International Holding Ltd for US$14.23 million in an effort to expand its brand business.
Delta planned to buy QUMI, VIVITEK and other trademarks under review, Delta said in a filing to the Taiwan Stock Exchange.
QUMI is a projector brand operated by a local company Vivitek Corp (麗訊).
Cheng Loong mulls China buy
Cheng Loong Corp (正隆), one of Taiwan’s leading paper manufacturers, said yesterday it was in talks with one of its counterparts in China on a possible acquisition.
The paper producer said it was hoping to buy the Chinese company, which has an annual production capacity of 1 million tonnes and great potential for expansion because it is situated on a huge tract of land.
Cheng Loong declined to disclose any further information about the plan.
The company currently operates production bases in several Chinese cities, including Shanghai, Suzhou, Kunshan, Zhengzhou, Dongguan and Tianjin, as well as in countries like Vietnam, Japan, Indonesia and the US.
In the first seven months of this year, Cheng Loong posted NT$14.68 billion in sales, up 7.62 percent from a year earlier.
Formosa shuts naphtha cracker
Formosa Petrochemical Corp (台塑石化) said it halted the No. 2 naphtha cracker in Mailiao (麥寮) Township, Yunlin County, for 30 days for maintenance, starting on Wednesday.
A hydrocracker and vacuum distillation unit at Mailiao were shut as of July 27, company spokesman Lin Keh-yen (林克彥) said by telephone yesterday.
Tablets overtaking notebooks
Between 60,000 and 70,000 tablets were sold in May and June in Taiwan, which exceeded the number of notebook PCs sold in the same period, Andy Tu (杜偉昱), general manager of Samsung Electronics Taiwan Co’s mobile communications team, said yesterday at a product launch ceremony in Taipei.
In comparison, only between 20,000 and 30,000 tablets were sold in Taiwan during the same period of last year, which Tu said was an indication that Taiwanese consumers’ purchase behavior is changing.
Tu said more people would like to buy tablets before they consider replacing their notebook PCs, while Taiwan is a little faster than the world’s average when it comes to adopting tablets over notebooks PCs, he added.
Tu said there would be more Samsung products, including tablets, hitting the market later this year that will run on Windows RT, tailored for ARM Holdings PLC technology.
NT dollar falls against US dollar
The New Taiwan dollar fell against the US dollar yesterday, declining NT$0.018 to close at NT$30.020.
Turnover totaled about US$700 million during the trading session.