TAIEX stages rebound
The TAIEX staged a technical rebound yesterday after investors were given a jolt of confidence by a report showing improved manufacturing activity in the US last month, dealers said.
Buying returned to companies in the Apple supply chain on hopes that the launch of the iPhone 5 will boost shipments, with interest then spreading to other high-priced high-tech stocks to give the broader market a boost, they said.
The weighted index closed up 42.46 points, or 0.56 percent, at 7,718.68, after moving between 7,683.03 and 7,726.61 on turnover of NT$63.07 billion (US$2.15 billion).
Mega banned from investments
The Financial Supervisory Commission (FSC) yesterday banned state-run Mega Financial Holding Co (兆豐金控) from making new investments for six months for its failure to sell its stake in Taiwan Business Bank (TBB, 臺灣企銀) or come up with a divestment plan.
Mega Financial owns a 13.4 percent stake in TBB and had indicated plans to sell the shares by June this year.
The FSC said the ban is to remain in place until Mega Financial makes amends.
The FSC also fined Jih Sun Securities Co (日盛證券) NT$2 million for failing to win board approval before trading structured products as required by law.
German firm opens new plant
Heraeus Holding, a German technology group, opened a manufacturing plant in Taoyuan yesterday, aiming to provide a faster service to the local market.
The new facility, operated through the Heraeus Photovoltaics Business Unit, seeks to offer Taiwanese customers more technical backup and customized services, Tobias Caspari, general manager for photovoltaics in Asia, said at the opening ceremony in Taoyuan.
Heraeus, a major maker of metallization paste for the photovoltaic industry, accounts for about 40 percent of the world market and has a share of 50 to 60 percent in Taiwan, Caspari said.
Heraeus set up an office in Taiwan in 2002, began shipping to the country in 2008 and set up a technical service center in 2010.
Chunghwa plans cloud bids
Chunghwa Telecom Co (中華電信), the nation’s biggest telecoms operator, on Monday said that it plans to bid for the government’s cloud infrastructure projects, despite macroeconomic uncertainties.
Chung Fu-kuei (鍾福貴), president of Chunghwa Telecom’s data communication business group, said that the company plans to bid for the government projects announced last month for public cloud applications.
Taiwan expo attracts crowds
A five-day exhibition in Guangzhou, China, to demonstrate Taiwan-made products received about 165,000 visitors in the first two days of the fair, the organizers said, adding that the number of visitors this year is set to surpass the 300,000 recorded last year.
A total of 52 Taiwanese companies have a presence at the annual event which began on Saturday and is set to run through today, Taiwan External Trade Development Council officials said yesterday.
They include smartphone supplier HTC Corp (宏達電) and computer vendors Acer Inc (宏碁) and Asustek Computer Inc (華碩電腦).
NT dollar gains on greenback
The New Taiwan dollar gained ground against the US dollar yesterday, adding NT$0.017 to close at NT$29.385.
Turnover totaled US$685 million during the trading session.