TAIEX gets high-tech boost
The TAIEX closed up 30.98 points, or 0.39 percent, at 7,832.98, on turnover of NT$80.59 billion (US$2.72 billion).
“The local bourse was basically driven by rotational buying as interest shifted to the financial sector from the high-tech sector today [yesterday],” Mega International Investment Services Corp (兆豐投顧) analyst Alex Huang (黃國偉) said.
Lite-On plans takeover bid
Lite-On Technology Corp (光寶科技), which makes power supply units used in electronic devices, yesterday said it planned to boost its stake in DVD player maker Lite-On IT Corp (建興電子) to 100 percent for as much as NT$17.45 billion via a subsidiary.
Lite-On currently holds a 42 percent stake in Lite-On IT.
The company plans to offer NT$32.75 for each Lite-On IT share, meaning a 22 percent premium compared with Lite-On IT’s closing price of NT$26.8 on the local bourse yesterday.
Chunghwa opens HR unit
Chunghwa Telecom Co (中華電信), the nation’s biggest telecommunications operator, yesterday launched a fully-owned human resource (HR) management unit, Honghwa Human Resources Co Ltd (宏華人力資源).
The company aims to use the unit to provide around-the-clock service for its customers and to better utilize its workforce.
Honghwa will help conduct recourse talent recruitment for Chunghwa.
Chunghwa needs to recruit new employees to staff the more than 50 outlets it plans to open this year.
Flat-panel sector output falls
The nation’s flat-panel industry posted negative growth last year because of a decline in the output value of midstream displays, the Photonics Industry and Technology Development Association (PIDA, 光電協進會) said yesterday.
The output value of the sector, encompassing upstream components, midstream panels and downstream end products, fell 3.4 percent last year from a year earlier to NT$1.32 trillion.
The decline was driven by the 4.4 percent fall in the production value of midstream displays, such as LCD, LED and AMOLED (active-matrix organic light-emitting diode) panels, to NT$975.22 billion, the industry group said in a report.
However, the industry should rebound this year, with output value expected to grow 2.4 percent on increasing demand for 60-inch TV panels and ultra-high-definition TV panels, PIDA said.
Eslite debuts on GRETAI
Eslite Spectrum Corp (誠品生活), a subsidiary of the Eslite Group (誠品集團) that focuses on operating department stores, yesterday saw its shares rise by more than 25 percent on its debut on the over-the-counter GRETAI Securities Market.
Shares rose 26.92 percent to close at NT$198 on the local bourse to become the trade and department store sector’s highest-priced stock, stock exchange data showed.
The company — which operates 42 department stores and nine food and beverage outlets in Taiwan and Hong Kong — raised NT$41.33 million in the initial public offering, aiming to accelerate expansion in Taiwan, China and Hong Kong over the next five years.
NT dollar falls on greenback
The New Taiwan dollar dropped against the US dollar yesterday, down NT$0.011 to close at NT$29.570 as a result of the central bank’s intervention, dealers said.
Turnover totaled US$1.05 billion during the trading session.