Wed, Nov 14, 2012 - Page 14 News List

[ BUSINESS BRIEFS ]

Staff writer, with agencies

TAIEX takes a dive

The TAIEX fell yesterday because of concerns over the European debt crisis and a strong New Taiwan dollar, which has affected local electronics makers, dealers said.

The weighted index ranged between a high of 7,262.65 and a low of 7,129.87 before finishing 131.7 points lower, or 1.81 percent, at 7,136.05 on turnover of NT$73.58 billion (US$2.54 billion).

Overall, a total of 1,180 stocks closed up, 3,457 finished down, and 286 stayed unchanged. All of the market’s eight major stock categories closed lower, with plastics and chemical shares suffering the heaviest losses at 2.92 percent.

Share trading attracts attention

Taiwan Stock Exchange Corp (TWSE, 台灣證交所) is looking into unusual trading volume and price movements in HTC Corp shares before the announcement of a patent settlement with Apple Inc.

The probe is standard procedure and “is not necessarily related to insider trading,” TWSE senior vice president Michael Lin (林火燈) said yesterday.

The disclosure of the Apple settlement on Sunday will be taken into account, he said.

HTC shares climbed 6.9 percent on Friday with 26.7 million shares changing hands, more than double its daily average this year of 12.7 million, according to data compiled by Bloomberg. The stock fell 6.9 percent to NT$225 yesterday, snapping a five-day, 25 percent surge.

AIT official lauds investment

The director of the Taipei office of the American Institute in Taiwan (AIT) said yesterday that Taiwanese investment has helped boost US economic growth and prosperity.

Christopher Marut said Taiwanese companies have invested heavily in the US across sectors, including energy, plastics, semiconductors, transportation, logistics, information and communication technology.

Taiwan’s direct investment last year totaled US$5.2 billion, creating about 13,000 jobs in the US, Marut said during his opening remarks at the SelectUSA business forum in Taipei to promote Taiwan-US investment.

Taiwan Mobile leads the way

Taiwan Mobile Co (台灣大哥大) led Taiwan’s telecoms companies in earnings per share last month.

Taiwan Mobile had earnings per share of NT$0.47 (US$0.016), ahead of Chunghwa Telecom Co’s (中華電信) NT$0.46 and Far Eas Tone Communications Co’s (遠傳電信) NT$0.3.

Taiwan Mobile reported on Friday net profit of NT$1.28 billion for last month and consolidated revenues of NT$8.26 billion.

On Monday, Chunghwa Telecom announced unconsolidated revenues of NT$15.69 billion and net income of NT$3.56 billion.

Far EasTone reported NT$7.22 billion in consolidated revenues and NT$977 million in net income.

Last month’s figures brought Taiwan Mobile’s consolidated revenue in the first 10 months to NT$80.48 billion and its earnings before interest, taxes, depreciation and amortization to NT$23.39 billion.

Ministry, FSC fail to agree

The Ministry of Finance and the Financial Supervisory Commission failed to agree yesterday on whether Taiwan’s offshore securities units (OSU) should enjoy the same tax breaks as offshore banking units, mainly on the issue of setting time limits or not.

The ministry said a “sunset clause” should be set for any tax breaks, while the commission hoped to avoid time limits.

The two sides will continue discussions after clarifying the discrepancy, a ministry official said.

NT dollar loses ground

The New Taiwan dollar lost ground against the US dollar yesterday, declining NT$0.039 to close at NT$29.129.

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