TAIEX edges down
The TAIEX closed with little change yesterday as large-cap high-tech stocks lost their luster on profit-taking after a recent strong showing, dealers said.
However, the losses were offset by interest in old-economy companies, such as “China concept stocks” — companies that have close ties with China — keeping the index relatively flat, they said.
Turnover remained slim as many investors preferred to stay on the sidelines, waiting to see if Washington would resolve its looming “fiscal cliff,” they added.
The weighted index ended down 2.38 points, or 0.03 percent, at 7,634.19, on turnover of NT$56.64 billion (US$1.95 billion).
Acer gains from land sale
Acer Inc (宏碁), the world’s No. 4 PC brand, yesterday said it had booked a gain of NT$85.43 million through a NT$555.55 million land sale in Taoyuan County’s Lungtan Township (龍潭).
Acer said it sold the 12,956 ping (42,830m2) plot of land to Crown Machinery Co (樺欣機械), based in Dayuan Township (大園) at NT$42,880 per ping, a filing to the Taiwan Stock Exchange showed.
HTC J Butterfly best-seller
HTC Corp’s (宏達電) new 5-inch flagship smartphone was among one of the best-selling mobile phones in Japan, according to IT industry researcher BCN’s sales rankings, released on Tuesday.
The HTC J Butterfly, which went on sale in Japan earlier this month, ranked 10th in the weekly survey conducted from Dec. 17 to Sunday, moving one spot higher than in the previous survey, the Tokyo-based research firm said.
Sharp Corp’s 4.9-inch AQUOS PHONE ZETA SH-02E remained the top mobile phone in the ranking, followed by Sony Corp’s 4.3-inch Xperia AX SO-01E. The third to fifth places went to Apple Inc’s iPhone 5, BCN said.
Company Act clarified
Lawmakers on Tuesday passed an amendment to the Companies Act (公司法) to clarify that the act only regulates the transfer of shares in publicly listed companies and not in family-owned businesses.
The amendment to Article 197 of the act invalidates the appointment of any publicly listed company director who transfers more than half of his or her shares just before taking office or before a shareholders’ meeting.
Taiwan Solidarity Union Legislator Hsu Chung-hsin (許忠信) said the revision would help boost capital liquidity among non-publicly listed companies.
ECCT welcomes grace period
The European Chamber of Commerce Taipei (ECCT) yesterday welcomed a two-year grace period for the introduction of new wiring standards that affect its members in the electrical engineering and equipment industry.
The foreign trade group voiced its relief after the Bureau of Energy under the Ministry of Economic Affairs on Tuesday said it would give companies a two-year grace period to make it easier to comply with the rules.
“While the development does not completely resolve the issue for our members, it allows business to continue and demonstrates the government’s commitment to keeping Taiwan’s markets open,” the chamber said in a statement.
NT dollar up on greenback
The New Taiwan dollar strengthened against the US dollar yesterday, adding NT$0.002 to close at NT$29.128 in reflecting fund inflows, dealers said.
Traders used a stronger South Korean won as a reason to buy into the NT dollar, but cut their US dollar holdings, betting that more fund inflows into the Asian market would continue to lift the regional currencies, they said.