Stock market closes higher
Shares on the Taiwan Stock Exchange closed higher yesterday, the last trading session of the year, as the financial sector, led by heavyweight Fubon Financial Holding Co (富邦金控), attracted rotational buying, dealers said.
The market also got a boost from smartphone vendor HTC Corp (宏達電), which built on Thursday’s rally to breach the NT$300 mark amid optimism over sales of the company’s Butterfly model, they said.
The weighted index closed up 51.90 points, or 0.66 percent, at 7,699.50, after on turnover of NT$70.15 billion (US$2.41 billion).
Nanya raises funds
Nanya Technology Corp (南亞科技), the nation’s biggest DRAM chipmaker, yesterday raised NT$9 billion in a new fund as scheduled, completing its first lag of two-stage fund raising program to offer 10.94 billion shares, according to a filing to the Taiwan Stock Exchange.
Companies under the umbrella of Formosa Plastic Group (台塑集團), have subscribed to the 5.29 billion in common shares issued by Nanya Technology for NT$1.7 per share via private placement.
HTC Butterfly popular in Japan
Local telecoms operators Taiwan Mobile Co (台灣大哥大) and Far EasTone Telecommunications Co Ltd (遠傳電信) will join bigger rival Chunghwa Telecom Co (中華電信) in selling HTC Corp’s (宏達電) new HTC Butterfly smartphone from January 1, after the phone gained popularity in Japan and Taiwan.
Taiwan Mobile subscribers will have to pay NT$7,990 for the smartphone plus a minimal monthly fee of NT$1,398 for a 2-year service contract, the phone company said yesterday.
Far EasTone users will pay NT$7,990 for the phone and a slightly lower monthly fee of NT$1,373 for 2 years.
Electric motorbike sales up
The Industrial Development Bureau (IDB) said yesterday it has targeted a 50 percent year-on-year increase in electric motorbike sales in 2013 because of growing environmental awareness.
Citing an internal assessment, the IDB predicted that sales of electric motorbikes would hit 12,000 units in 2013, up sharply from about 8,000 units sold between Jan. 1 and Dec. 22 of this year.
Unit sales during the Jan. 1-Dec. 22 period rose 10 percent from 2011 because of growing environmental awareness and government subsidies.
Syndicated loans decrease
Syndicated loan volume in Taiwan witnessed a 23 percent drop for this year, a report issued by Thomson Reuters Loan Pricing Corp said yesterday.
Syndicated loan volume totaled US$31.7 billion in Taiwan this year, from US$41.2 billion recorded last year, the report’s data showed.
Asia Pacific (excluding Japan) syndicated loan volume for this year reached US$308.5 billion, a 10 percent drop from last year, with the number of transactions also falling to 1,024, from the previous year’s 1,081, the report said.
Japan, typically isolated from other Asia loan markets, set a new record with US$324 billion in loan volume, surpassing the previous year’s record of US$287 billion.
New Taiwan dollar weakens
The New Taiwan dollar weakened against the US dollar yesterday, down NT$0.01 to close at the day’s low of NT$29.136 after the local central bank bought into the greenback, helping the unit reverse its earlier losses by the end of the session, dealers said.
The expanded turnover showed the central bank’s aggressive buying in the US currency throughout the session in a bid to slow down the pace of the Taiwan dollar’s appreciation and strengthen the island’s global competitiveness, they said.