Staff Writer, with Agencies

Fri, Apr 20, 2012 - Page 11

TAIEX fends off pressure

Government funds were said to lend support to the local bourse yesterday, helping the market fend off downward pressure triggered by losses on Wall Street and European markets overnight, dealers said.

Buying in the financial sector, in particular, offset selling in select large-cap stocks in other sectors and pushed the TAIEX back above the 7,600-point mark by the end of the session, they said.

The benchmark index closed up 17.69 points, or 0.23 percent, at 7,622.69, after moving between 7,528.04 and 7,632.73. Turnover totaled NT$74.59 billion (US$2.53 billion) during the session.

TAIFEX inducted into CCP12

The Taiwan Futures Exchange (TAIFEX) has become one of the 29 members of the Central Counterparty Global Conference (CCP12), a move that is expected to help raise Taiwan’s international profile and strengthen its risk management and clearing system, according to a TAIFEX statement released yesterday

TAIFEX’s membership was unanimously approved at the CCP12’s annual meeting in London early yesterday, TAIFEX vice president Chiu Wen-chang (邱文昌) said after presenting the membership submission.

CCP12, a global organization formed in 2001, currently has members operating across Africa, the Americas, Asia, Australia and Europe.

ITIC, Sumitomo ink deal

Taiwan’s Industrial Technology Investment Corp (ITIC, 工研院創新公司) and Japan’s Mitsui Sumitomo Insurance Venture Capital (MSIVC) signed a pact on Wednesday paving the way for the establishment of a fund that will be used to invest in the emerging “green energy” industry.

Tadatoshi Komuro, chairman of MSIVC, the venture capital arm of Japan’s largest insurance company, and Liu Jong-min (劉仲明), chairman of the ITIC, a wholly owned subsidiary of the Industrial Technology Research Institute (ITRI, 工研院), signed the pact on behalf of each side. MSIVC is expected to inject US$10 million into the fund, while the ITIC will contribute between US$20 million and US$30 million.

The ITRI said that through the cooperation, it hoped that both sides become strategic partners and expand their cooperation to other areas for mutually beneficial results.

HTC tackles yellow spots

HTC Corp (宏達電) said on Wednesday that it would help local users of its One X smartphone to obtain redress for flaws in the product after media reports on a discoloration problem with the flagship model.

Taiwan-based weekly Next Magazine reported on Wednesday that some local users of the One X, a 4.7-inch model unveiled in February, had found several yellow spots under the phone’s screen.

In response to the news, HTC said it would deal with the problem to provide its consumers with good user experiences.

Transasia launches new route

TransAsia Airways Corp (復興航空) launched a new weekly flight service between Hualien and Hangzhou in China on Wednesday, a company statement said.

It is is the first regular cross-strait route from Hualien airport, as the carrier aims to “attract more Chinese tourists interested in eastern Taiwan,” TransAsia said.

The carrier also plans to launch two new cross-strait routes next month, including routes between Hualien and Wuhan, as well as Taoyuan and Sanya, according to the statement.

Taiwanese dollar gets stronger

The New Taiwan dollar rose against the US dollar Thursday, adding NT$0.014 to close at NT$29.532.

Turnover totaled US$417 million during the trading session.