TAIEX drifts above 7,700 points
The TAIEX remained in consolidation mode, above the 7,700 point mark, drifting on a lack of fresh incentives from overseas, dealers said.
Select stocks, such as those of integrated circuit designer MediaTek Inc, outperformed the broader market on their individual positive leads, but there was no mainstream sector lead to make a breakthrough on the index, dealers said.
The weighted index closed up 8.31 points, or 0.11 percent, at 7,690.65, after moving between 7,675.48 and 7,721.93, on turnover of NT$71.72 billion (US$2.46 billion).
Tax limits likely to increase
The Ministry of Finance is expected to raise income tax exemption limits next year in line with inflation, which has reached more than 3 percent this year, in a measure that will benefit more than 5.4 million people.
It was predicted that the standard deduction will be raised by NT$3,000 (US$102) for ordinary people, by NT$4,000 for those aged 70 and above, by NT$2,000 for single people and by NT$4,500 for the married.
The special deduction of income from salaries or wages and the special deduction for the disabled and handicapped will be raised by NT$3,000 each.
Meanwhile, the minimum amount of net income to be taxed at 5 percent will be raised from NT$500,000 to NT$520,000.
The forthcoming adjustment will be applied when people file next year’s tax returns in 2014.
Neo Solar Power revenue falls
Local solar cell maker Neo Solar Power Corp (新日光) yesterday posted revenue at NT$764 million for last month compared with August’s NT$1.07 billion, about 29 percent lower. On an annual basis, this is a 56 percent slump from NT$1.75 billion.
Last month’s revenue was at its lowest level since January’s NT$663 million.
In the June to September period, revenue plummeted 28 percent to NT$2.85 billion, from NT$3.96 billion in the previous quarter.
Tittot targets foreign markets
Tittot Co (琉園), a crystal glass maker and designer, is confident that it can triple its foreign market revenue by 2014, chairman Heinrich Wang (王俠軍) said yesterday.
In addition to the growing Chinese market, Tittot expects to raise its foreign market revenues from the current 5 percent of its total output to about 15 percent in 2014, Wang said on the sidelines of a product launch in Taipei.
Revenues reached NT$287.5 million (US$9.83 million) last year, up 5.56 percent from a year ago, according to the company’s annual revenue report.
Besides Taiwan, Tittot also operates stores in Japan, Singapore, Malaysia, China, Saudi Arabia, the United Arab Emirates and the US.
Travel fair set for late October
The 2012 Taipei International Travel Fair, the largest of its kind in Taiwan, will take place from Oct. 26-29 at the Taipei World Trade Center Exhibition Hall 1 and Hall 3, with more than 1,000 booths and 60 countries registered to participate, the event’s organizer said on Thursday.
The fair has drawn interest from countries such as Japan, South Korea, Malaysia, Hong Kong and the US, according to the Taiwan Visitors Association (台灣觀光協會).
Last year’s event attracted about 250,000 visitors and generated NT$1.5 billion (US$50 million) in revenue.
NT dollar strengthens
The New Taiwan dollar gained ground against the US dollar yesterday, adding NT$0.02 to close at NT$29.368.
Turnover totaled US$841 million during the trading session.