Tue, Sep 11, 2012 - Page 14 News List

[ BUSINESS BRIEFS ]

Staff writer, with agencies

TAIEX edges higher

The TAIEX edged higher yesterday, led by construction stocks and companies with high fixed assets, helping the benchmark index close above its one-month moving average of 7,438.

The weighted index closed up 57.83 points, or 0.78 percent, at the day’s high of 7,482.74 after opening at the day’s low of 7,435.34.

Turnover was NT$81.36 billion (US$2.74 billion).

The TAIEX could challenge the 7,500-point level if trading volume strengthens further, said Boryi Chien (簡伯儀), a manager in the research department of Cathay Securities Co (國泰證券).

In yesterday’s trading, a total of 2,215 stocks closed up, 2,052 finished down, and 416 remained unchanged.

All of the market’s eight broad stock categories rose, with paper and pulp shares posting the highest gains, finishing up 2.8 percent.

Exports may remain stationary

The annual growth rate of exports could remain unchanged this month on the back of China’s economic slowdown and the struggles of eurozone economies, Yen Chen-hui (顏承暉), a strategist at Polaris Research Institute (寶華綜合經濟研究院), said yesterday.

The year-on-year growth rate in imports of capital equipment and agricultural and industrial material might decline this month, Yen said.

Taiwan’s exports fell 4.2 percent last month from the same month the previous year to US$24.69 billion, the sixth monthly year-on-year decline, the Ministry of Finance reported on Friday last week.

The chances of better foreign trade figures are expected to be delayed as exports continue a slow declining trend, Yen said.

Positive forecast for HTC

Smartphone maker HTC Corp (宏達電) will see a rebound in sales this month, SinoPac Securities Investment Service (永豐投顧) said in a research note yesterday.

The report based its optimistic forecast in part on the launch of the HTC J — the Taiwan company’s best-selling handset in Japan — in the home market.

SinoPac said the local launch of the HTC J will help stimulate the Taiwanese company’s sales, bringing its monthly revenues to NT$30 billion this month, after sales slid 4 percent to NT$24 billion last month from July.

The report further said that HTC’s launch of nine new devices in the second half of the year, including its 5-inch flagship DLX, its One X and One V phones, and two Windows Phone 8 models, will help drive up its revenues this month and next month.

Ministry approves investment

The Ministry of Economic Affairs said yesterday it has approved an investment application by Magma Design Automation BV of the Netherlands to acquire 1.24 billion shares of Synopsys Taiwan (台灣新思科技) for US$413.36 million.

Synopsys Taiwan, a local subsidiary of the US-based Synopsys Inc, will use the new funds to buy 217.47 million shares in SpringSoft Inc (思源科技), a global supplier of specialized IC design software, on the open market, the ministry said in a statement.

Synopsys announced last month that it planned to tender an offer to acquire all of the outstanding shares of the Hsinchu-based SpringSoft for NT$57 per share.

The transaction is expected to close in the first quarter of next year, the US company said earlier.

NT dollar strengthens

The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.102 to close at NT$29.740. Turnover totaled US$704 million during the trading session.

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