TAIEX hits monthly high
Electronics shares helped the TAIEX close above 7,400 yesterday for the first time in more than a month.
The upward momentum was helped by a sense that the recent gloom hovering over Taiwan’s bourse may finally be dissipating and optimism over the boost the electronics sector will get from the IT Month consumer electronics fair that opens on Saturday, dealers said.
The weighted benchmark opened at 7,372.38, fell to the day’s low of 7,370.28 about 10am, and then steadily rose in the session’s final 90 minutes to close up 81.36 points, or 1.11 percent, at the day’s high of 7,407.37. Turnover was NT$81.62 billion (US$2.8 billion).
Mega Bank inks loan deal
State-run Mega International Commercial Bank (兆豐國際商銀), the banking arm of Mega Financial Holdings Co (兆豐金控), has inked a 12.5 year syndicated loan pact with Hong Kong-based Orient Overseas Container Line (OOCL, 東方海外貨櫃航運) over the purchase of a 13,200 twenty-foot equivalent (TEU) sized vessel.
Mega Bank will serve as the lead manager of the US$103.6 million syndicated loan with the participation of Chinatrust Commercial Bank (中國信託商銀) and Chang Hwa Commercial Bank (彰化銀行).
Mega Financial chairman McKinney Tsai (蔡友才) signed the agreement in Taipei last week with OOCL chairman Tung Chee-chen (董建成), a company statement said.
The vessel is one of the 10 13,200 TEU vessels OOCL ordered last year as the company seeks to strengthen its competitiveness in the global shipping market, the statement said, adding that the vessels will be delivered in series from January next year.
TSMC raises NT$23.6 billion
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chip manufacturer by revenue, has raised NT$23.6 billion through the sale of unsecured corporate bonds in three tranches yesterday.
The Hsinchu-based company sold NT$10.6 billion of five-year bonds at a yield of 1.23 percent, NT$10 billion of seven-year bonds at a yield of 1.35 percent and NT$3 billion of 10-year bonds at a yield of 1.49 percent, the company’s term sheet showed.
Separately, Motech Industries Inc (茂迪), Taiwan’s biggest solar cell maker, said yesterday that its board had approved a plan to issue as much as US$130 million in five-year unsecured convertible bonds at a zero coupon rate to help fund raw materials purchases, according to a filing to the Taiwan Stock Exchange. TSMC holds a 20 percent stake in Motech.
iPhone 5 set for Taiwan debut
Taiwan’s major telecoms carriers confirmed media reports yesterday that Apple Inc’s latest iPhone 5 is “very likely” to hit the local market on Dec. 14, more than two-and-a-half months after it rolled out in 31 other countries.
However, the Silicon Valley giant has yet to “give its consent” to related details, including the release date, carriers’ contract plans and the content of press releases, the carriers added.
The three companies — Chunghwa Telecom Co (中華電信), Taiwan Mobile Co (台灣大哥大) and Far EasTone Telecommunications Co (遠傳電信) — plan to take pre-orders one week before the release day.
The iPhone 5 is scheduled to be available in more than 100 countries by the end of the year, according to Apple.
NT dollar up against greenback
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.028 to close at NT$29.143.
Turnover totaled US$452 million during the trading session.