TAIEX recovers after losses
The TAIEX recouped most of its earlier losses to end little changed yesterday as select large-cap stocks, in particular in the financial sector, staged a rebound, dealers said.
However, notebook computer stocks encountered heavy downward pressure throughout the session after Hewlett-Packard gave a disappointing earnings estimate for next year, they said.
Among the notebook computer stocks that fell victim to the HP forecast, Quanta Computer Inc (廣達) fell 3.99 percent to close at NT$74.50, and Wistron Corp (緯創) shed 4.62 percent to end at NT$33.05.
The weighted index closed down 2.29 points, or 0.03 percent, at 7,682.34, after moving between 7,621.38 and 7,689.08, on turnover of NT$67.99 billion (US$2.32 billion).
At the end of the session, the paper and pulp sector had suffered the heaviest selling among the eight major market sectors, finishing down 0.8 percent.
CAL joins global cargo alliance
China Airlines Ltd (CAL, 中華航空), Taiwan’s largest carrier, announced yesterday that it has joined SkyTeam Cargo, making it the first airline in the country to partner with the only global airline cargo alliance.
CAL senior vice president James Yu (余劍博) said at the International Air Cargo Forum and Exposition in Atlanta that membership of SkyTeam Cargo means that the carrier will be able to expand its shipping network from 84 destinations in 27 countries to 864 destinations in 174 countries.
Yu said that as part of the alliance, CAL and carriers such as Delta Cargo, China Southern Cargo and Air France Cargo will be able to share resources such as terminals and ground handlers, which means faster connections for customers.
Such coordination will not only reduce the airline’s operational costs but will also raise the total volume of air cargo transported to or through Taiwan, he said.
Largan to provide job boost
Taiwan-based cellphone camera lens maker Largan Precision Industry Co (大立光) announced yesterday it will recruit about 1,000 new employees for its facilities in the Central Taiwan Science Park in a bid to boost production.
It said a new factory located in the science park is scheduled to operate in the fourth quarter, and the latest round of its recruitment efforts was designed to facilitate production at the new plant.
Largan said it will join up with the administration bureau of the science park to hold a job fair on Oct 18.
Taiwan eyes SE Asia deals
Taiwan is stepping up efforts to land deals with countries in Southeast Asia to establish a banking presence in the region, the nation’s financial regulator said on Wednesday.
Taiwan is striving to sign memorandums of understanding with Cambodia, Malaysia, Indonesia and Thailand, as well as India, to establish banking presences in those countries, as market access to these emerging economies is often heavily regulated by local authorities, Financial Supervisory Commission Chairman Chen Yuh-chang (陳裕璋) said at a meeting of the legislature’s Finance Committee.
The Chinese-language Economic Daily News yesterday quoted unnamed banking bureau officials as saying that a deal with Cambodia will be signed soon.
NT dollar gains on greenback
The New Taiwan dollar rose against the US dollar yesterday, adding NT$0.017 to close at NT$29.388.
The local currency reached NT$29.198 on Sept. 17, the strongest level since May 3.
Turnover totaled US$519 million during the trading session.