Fri, Mar 29, 2013 - Page 14 News List

[ BUSINESS BRIEFS ]

Staff writer, with agencies

Thin trade constrains shares

The TAIEX closed slightly lower yesterday as thin trading volume continued to limit the local stock market’s movement.

The weighted index opened at the day’s high of 7,905.71 and reached a low of 7,844.84, before rebounding to close down 27.24 points, or 0.35 percent, at 7,866.88. Turnover totaled NT$64.95 billion (US$2.17 billion).

At the close of trade, 1,853 stocks closed higher, 2,914 closed lower and 446 remained unchanged.

Record numbers attend fair

A record number of global buyers are taking part this year in an annual product sourcing fair that opened yesterday in Taipei, the Taiwan External Trade Development Council (TAITRA, 外貿協會) said.

The council said more than 600 buyers from 60 countries are attending Sourcing Taiwan and they are expected to hold about 10,000 procurement meetings.

That is the strongest buyer participation since 2009, when the trade fair was first launched, TAITRA said.

Among the participants, 40 companies have annual revenues of more than US$1 billion, while 222 firms have annual sales volume of more than US$100 million, TAITRA said.

Hon Hai helping Google: FT

Hon Hai Precision Industry Co (鴻海) yesterday declined to comment on a report that it has been tapped to assemble Google Inc’s futuristic digital eyewear at a facility in the US.

The London-based Financial Times (FT) reported on Wednesday, quoting people familiar with the project, dubbed Project Glass, that Google is working with Hon Hai to assemble its digital glasses at a factory in Santa Clara, California.

The gadget’s inbuilt camera is controlled by voice-recognition software, and it can send photos and videos directly to the Internet via a connected smartphone, while a small screen above the wearer’s right eye displays search results and other information, the report said.

Nicaragua seminar to be held

A seminar on trade and investment opportunities in Nicaragua is to be held in Taiwan next month to promote the business opportunities available in the central American country, the organizers said yesterday.

Javier Chamorro, an official with Nicaragua’s investment promotion agency, will give a presentation at the seminar on April 10 to introduce the country’s investment environment, the Taipei-based Chinese International Economic Cooperation Association said.

The seminar is to be attended by representatives of Taiwanese companies, it added.

Nicaragua is one of the nation’s 23 diplomatic allies and a free-trade agreement between the two countries took effect in 2008.

Young Fast profits expand

Young Fast Optical Co (洋華光電), which makes touch panel sensors for smartphones and tablets, said on Wednesday its net profits expanded to NT$172 million last quarter, from NT$31 million in the third quarter of last year, while gross margin rose to 14.4 percent from 9.6 percent.

For the full year, Young Fast, which counts HTC Corp (宏達電) among its biggest clients, lost NT$355 million, compared with net profits of NT$420 million in 2011.

This quarter, revenues are expected to drop by a double-digit percentage from last quarter’s NT$4.32 billion as demand dwindled, Young Fast chairman Lin Teh-jeng (林德錚) told investors.

NT dollar inches higher

The New Taiwan dollar closed higher against its US counterpart yesterday, edging up NT$0.001 to close at NT$29.940. Turnover totaled US$640 million during the trading session.

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