TAIEX makes technical rebound
The TAIEX staged a mild technical rebound yesterday after slumping a day earlier as investors snapped up battered high-priced electronics stocks, dealers said.
The upside was limited, though, by thin trading volume as many investors took to the sidelines, waiting to see if US Federal Reserve Chairman Ben Bernanke would hint at new stimulus measures in a speech tomorrow, they said.
The weighted index closed up 29.21 points, or 0.40 percent, at 7,391.15, after moving between 7,368.40 and 7,405.30 on turnover of NT$62.56 billion (US$2.09 billion).
Hon Hai to buy LCD patents
The head of Hon Hai Precision Industry Co (鴻海精密) said the electronics manufacturer is buying key LCD panel patents from Japan’s NEC Corp.
Terry Gou (郭台銘) said in Tokyo late on Tuesday that the deal would be signed soon, but did not give details.
Gou has sought tie-ups with Japanese firms to jointly combat growing competition from South Korea. In March, Hon Hai announced it was buying a 9.9 percent stake in struggling Sharp Corp.
Acer’s India business booming
Acer Inc (宏碁) vaulted past Hewlett-Packard Co and Dell Inc to become the second-largest PC vendor in India in the second quarter, research firm Gartner Inc said in a statement on Tuesday.
Acer shipped 388,600 units for a 13.4 percent market share, surpassing HP (13.1 percent) and Dell (12.9 percent) to seize second spot, Gartner said.
China’s Lenovo Group Ltd (聯想) retained its No. 1 position with a 16.6 percent market share, it said.
Smartphones for homes popular
Smartphones have become the second-most popular device for Internet home use, according to a survey published yesterday by Chinese-language Global Views Monthly Magazine.
The poll showed that 52.7 percent of Internet users browse the Web at home on their smartphones, with 87 percent using desktop PCs, 52 percent using laptops and 24.2 percent using tablets.
The magazine said it would be interesting to see whether smartphones would replace traditional fixed-line equipment.
The survey was conducted from Aug. 11 to Aug. 14 among 1,041 respondents. It had a margin of error of plus or minus 2.9 percentage points.
Chunghwa promotes Lee
Chunghwa Telecom Co (中華電信), the nation’s largest telecoms operator, yesterday said vice president Lee Yen-sung (李炎松) had formally taken over the president’s post from Chang Shiao-tung (張曉東), who is retiring.
Lee said in the handover ceremony that he would assist chairman Lu Shyue-ching (呂學錦) to introduce more value-added, customer-oriented services.
Chinatrust bank signs MOU
Chinatrust Financial Holding Co (中信金控) yesterday said its banking unit, Chinatrust Commercial Bank (中國信託商銀), had signed a memorandum of understanding with Alibaba Group Holding Ltd’s (阿里巴巴集團) Alipay, aiming to offer integrated services to the nation’s small and medium-sized businesses.
The two parties plan to integrate Chinatrust’s financial services platform with Alibaba’s e-commerce operation to help local small businesses to reach out to global markets, a company statement said.
NT dollar gains ground
The New Taiwan dollar rose against the US dollar yesterday, edging up NT$0.026 to close at NT$29.981 on the back of buying from local exporters, who were taking advantage of recent declines, dealers said.
Turnover totaled US$658 million during the trading session.