TAIEX boosted by US gains
The TAIEX closed in positive territory yesterday as investors took cues from the gains posted by US high-tech stocks overnight to buy into the local electronics sector, dealers said.
Buying focused on large-cap electronics, in particular flat panel makers Chimei Innolux Corp (奇美電子) and rival AU Optronics Corp (友達光電), on hopes of improving profitability, while select old economy sectors fell back as investors locked in the gains seen a day earlier, they said.
The weighted index closed up 19 points, or 0.25 percent, at 7,642.26, on turnover of NT$89.62 billion (US$3.08 billion).
At the end of the session, the cement sector scored the highest gains among the eight major market sectors, finishing up 1.8 percent.
AUO sales rise 1.4%
AU Optronics Corp (AUO, 友達光電), the nation’s No. 2 LCD panel maker, yesterday said its sales for last month rose 1.4 percent month-on-month to NT$33.9 billion, from October’s NT$33.45 billion. The figure represented an annual growth of 10.9 percent from NT$30.58 billion.
Shipments of PC and TV flat panels grew 8 percent month-on-month to 10.7 million units last month, AUO said in a statement. Shipments of mobile devices fell 5.8 percent to 13.2 million units last month from a month ago, it added.
Central bank sells NCDs
The central bank yesterday sold NT$100 billion of 364-day negotiable certificates of deposit (NCDs) through an auction at an average interest rate of 0.730 percent, the lowest yield since January last year.
It was lower than the 0.758 percent interest rate recorded in the previous sales of a similar amount of 364-day NCDs on Nov. 2, the bank’s data showed.
The sale of the NCDs since April 2000 was the equivalent of increasing the required reserve ratio by 4.5 percentage points, it said.
Jeffrey Koo Sr dies
Banking magnate Jeffrey Koo Sr (辜濂松), founder and chairman of Chinatrust Financial Holding Co (中信金控), has died at the age of 79 in the US, the company announced yesterday in a statement.
Koo died at 8:02pm on Wednesday in the Memorial Sloan-Kettering Cancer Center in New York City, attended by close family and friends, the company said. There was no mention of the cause of death.
Chinatrust Financial said the company was shocked at its founder’s death and was calling off all year-end feasts for employees at both local and foreign operations.
The company’s operations will remain normal and Hsueh Hsiang-chuan (薛香川), a board director, will become acting chairman during the transition period, it said.
Huga Optotech sales drop
LED chip packager Huga Optotech Inc (廣鎵光電) yesterday said sales reached NT$208.93 million last month, down 6.3 percent month-on-month, but up 37.98 percent year-on-year.
In the first 11 months of the year, cumulative sales rose 30.4 percent to NT$2.02 billion, the company said in a filing to the Taiwan Stock Exchange.
Opto Tech Corp (光磊科技), a maker of LED components, also reported declining sales for last month at NT$577.26 million, down 13.2 percent from October. However, last month’s sales were up 4.34 percent from last year, with first 11-months sales totaling NT$6.16 billion, down 6.18 percent from a year ago.
NT dollar gains ground
The New Taiwan dollar gained ground against the US dollar yesterday, adding NT$0.011 to close at NT$29.125. Turnover totaled about US$589 million during the trading session.