Thu, Feb 16, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

ELECTRONICS

PCB exports fall 9.9 percent

Printed circuit board (PCB) exports dropped 9.9 percent annually to US$49.93 billion last year, mainly dragged down by weakness in the smartphone and notebook computer industries in the first half of last year, the Ministry of Economic Affairs said yesterday. Increased production of PCBs in China also weighed on Taiwan’s export performance, the ministry said. China and Hong Kong are Taiwan’s largest export destination for PCBs, accounting for more than 50 percent of total PCB exports last year, ministry data showed.

BANKING

Yuan deposits drop

Yuan deposits at the nation’s banks last month totaled 310.95 billion yuan (US$45.28 million), down 0.15 percent from December last year, as firms trimmed holdings, but individual customers raised positions, the central bank said yesterday. The bank attributed the latest balance changes to asset allocations on the part of lenders to cope with currency fluctuations. Overall yuan deposits held relatively steady, it said.

SERVICES

Hotai offers 24-hour service

Hotai Leasing Corp (和運租車) yesterday launched a 24-hour service for car rentals, in a bid to make driving more convenient. Using the iRent app on smartphones, customers can make reservations, collect and return rental cars at different locations any time of day, Hotai Leasing said in a statement. The company said it hopes to develop a sharing economy like Taipei’s public bike rental service YouBike.

STOCKS

TAIEX hits 21-month high

The TAIEX yesterday hit a 21-month high, closing just short of 9,800 points in a liquidity-driven session, with market sentiment boosted by a stronger New Taiwan dollar after major US indices hit record highs overnight, dealers said. Buying in the electronics, steel and shipping sectors drove the gains, led by contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) and smartphone vendor HTC Corp (宏達電). The TAIEX closed up 0.83 percent at 9,799.76, on turnover of NT$115.36 billion (US$3.75 billion). The market opened up 5.35 points and quickly passed 9,800 points in reaction to the record-highs recorded by the NASDAQ Composite and S&P 500 on Tuesday and an uptick in the local currency. US stocks notched a fourth straight record close on Tuesday, with a rally led by bank stocks after US Federal Reserve Chair Janet Yellen signaled that the US central bank would gradually raise interest rates sooner rather than later.

SINGAPORE

Curbs to remain on stability

Residential property curbs are set to stay in place for at least another year amid signs the city-state’s housing market is stabilizing, the head of Southeast Asia’s biggest developer said yesterday. “We see volume picking up and the price declines have slowed,” CapitaLand Ltd CEO Lim Ming Yan said in a Bloomberg Television interview. “We see this trend continuing for 2017. There is no compelling reason for the government at this point to make major changes,” to property curbs. Lim was speaking after the Singapore-based developer said net income climbed 74 percent to S$430.5 million (US$301.9 million) in the three months ended Dec. 31 last year. CapitaLand’s Singapore home sales more than doubled to 571 units during the year and sales in China rose 14 percent.

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