Business Briefs


Wed, Jan 13, 2010 - Page 11

Share prices slip

Share prices closed lower yesterday, with the TAIEX falling 14.45 points, or 0.17 percent, to close at 8,309.37.

The bourse opened at 8,343.73 and traded between 8,356.97 and 8,262.58 during the session.

A total of 5.25 billion shares changed hands on market turnover of NT$147.14 billion (US$4.63 billion).

Losers outnumbered gainers 1,698 to 1,379, with 282 remaining unchanged.

Acer wins Gold Tech Award

Acer Inc’s (宏碁) desktop Aspire RevoR3600 yesterday bagged the top award at the 2009 Gold Tech Awards — an annual ceremony organized by Cite Media Holding Group (城邦媒體) magazines including PC Home.

Apple Inc’s iPhone 3GS, retailed by Chunghwa Telecom Co (中華電信), as well as a mouse from Leader Media Development Inc (利德開發), won the best design and best innovation categories.

The awards are aimed at providing consumers with a list of the most popular and most innovative tech gadgets of the year, the organizer said. The magazines’ editors and a panel judges from the tech industry chose the winners.

In the “popularity” category, which allowed Internet users to vote, Gigabyte Technology Co (技嘉科技) won with its hybrid Booktop M1022x model.

Chinatrust reports profit drop

Chinatrust Financial Holding Co (中信金控), Taiwan’s fourth-largest listed financial services company by market value, said profit last year fell 77.3 percent after it increased provisions.

Net income fell to NT$3.34 billion, or NT$0.25 per share, the Taipei-based company said in an exchange filing, revising an earlier report yesterday of net income of NT$3.93 billion. The company posted net income of NT$14.7 billion, or NT$1.51 a share, in 2008.

Chinatrust said the drop in profit last year was a result of the global financial crisis, lower interest rates and increased provisions.

Chunghwa buys bonds

Chunghwa Telecom Co (中華電信) bought a total of NT$1.48 billion in corporate bonds, the Taipei-based company said in three exchange filings yesterday.

Chunghwa bought NT$617 million in Formosa Petrochemical Corp (台塑石化) bonds, NT$406 million in Yuanta Securities Finance Co (元大證金) bonds and NT$459 million in Taiwan Power Co (台電) bonds, it said.

Fubon Bank raising funds

Fubon Financial Holding Co (富邦金控) said on Monday its banking unit would issue NT$2.25 billion in seven-year and NT$2.4 billion in 10-year subordinated debentures for long-term funding.

Taipei Fubon Commercial Bank (台北富邦銀行) will also use the proceeds to improve its capital adequacy ratio, Fubon Financial said in a statement.

The coupon for the seven-year subordinated debentures is 2.2 percent and 2.5 percent for the 10-year debentures, it said.

US trade deficit up 9.7 percent

The US trade deficit rose to the highest level in 10 months as an improving economy helped demand for imports. However, exports rose as well, boosted by a weaker dollar, supporting the view that US manufacturers will be helped by a rebounding global economy.

The Commerce Department reported yesterday that the trade deficit jumped 9.7 percent to US$36.4 billion in November, a bigger imbalance than the US$34.5 billion deficit economists had forecast.

Exports rose 0.9 percent, the seventh consecutive gain, as demand was up for US-made autos, farm products and industrial machinery. Imports rose at a much faster 2.6 percent, led by a 7.3 percent rise in petroleum imports.