Wed, Jul 30, 2014 - Page 14 News List

Taiwan Business Briefs

Staff writer, with agencies

Major investors flood TAIEX

Almost 80 percent of major players in the local bourse have returned to the trading floor, a development that could further raise market turnover and make trading more active, Financial Supervisory Commission (FSC) Chairman William Tseng (曾銘宗) said yesterday.

On the sidelines of a cross-strait financial market seminar, Tseng said that to his knowledge, more than 850 major market players had jumped onto the trading floor as of the end of last month, a level that is almost 80 percent of the historic peak of 1,100 investors.

The market defines “major players” as investors whose trade stocks are valued at no less than NT$500 million (US$16.67 million) a quarter.

The TAIEX has gained about 9.06 percent since the beginning of the year and yesterday closed at 9,391.88 points.

FSC clears acquisition plans

The (FSC) yesterday approved plans by China Development Financial Holding Co (中華開發金控) to acquire Cosmos Bank (萬泰銀行) for NT$23.09 billion through a share-swap scheme.

In addition, the regulator gave President Securities Corp (統一證券) the go-ahead to take over Standard Chartered Taiwan’s securities brokerage business for NT$685.6 million.

The acquisitive moves could help China Development Financial and President boost earnings and customers as fierce competition squeezes profitability in the local banking and brokerage sectors, the commission said.

Most first buyers get help: poll

More than half of the nation’s first-time home buyers need financial assistance from their families to buy a property, the results of a poll released yesterday showed.

The survey, conducted by real-estate agency Taiwan Realty Co (台灣房屋), found that 55.94 percent of respondents buying their first homes get help from their families in the form of loans (34.75 percent), or inheritance (11.02 percent), while the remainder (10.17 percent) said they received all or part of the money for their homes as gifts.

More than 25 percent said they managed to pay the property’s down payment on their own, while another 18.64 percent said they did so with help from their spouses.

Hon Hai staffer dies in China

A 22-year-old male Hon Hai Precision Industry Co (鴻海精密) employee was found dead outside the company’s manufacturing campus in the Chinese city of Shenzhen on Sunday, the company said in a statement yesterday.

The cause of death was not immediately known, the company said in the statement, adding that it was working with all concerned authorities.

Hon Hai is a major assembler of Apple Inc’s iPhone and iPad products. It has struggled with a spate of employee suicides at its Chinese plants in recent years.

Asustek targets fair sales boost

Asustek Computer Inc (華碩) on Monday said it expects the total sales revenue of its products at the Taipei Computer Applications Show to grow by at least 30 percent annually on the back of solid demand for its low-cost ZenFone range and the Transformer Book T100 — a hybrid device that functions both as a tablet and a laptop.

However, that target appears somewhat conservative compared with the about 50 percent sales growth Asustek recorded last year at one of the major consumer electronics exhibitions in Taiwan.

The trade show opens tomorrow and run through Monday next week at the Taipei World Trade Center Exhibition Hall 1.

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