TAIEX rebounds in thin trade
The TAIEX staged a technical rebound yesterday, closing above the 7,800-point mark, but thin turnover prevented the index from posting a significant gain, dealers said.
Select old economy shares, in particular construction stocks and “China concept” stocks, also helped stabilize the broader market, dealers said.
The weighted index closed up 13.81 points, or 0.18 percent, at 7,811.84, after profit-taking erased part of the earlier gains. Turnover was NT$68.21 billion (US$2.29 billion).
Among the firms that have close business ties with China, bicycle supplier Giant Manufacturing Co (巨大機械) added 1.22 percent to close at NT$166, while rival Merida Industry Co (美利達) gained 5.36 percent to close at NT$177, on hopes of strong sales growth in China.
FDI projects post increase
The number of inward and outward foreign direct investment (FDI) projects in the first two months of the year registered a year-on-year increase, Ministry of Economic Affairs data showed yesterday.
The statistics showed that 380 inward FDI projects with a total value of US$853.7 million were approved in the first two months. The number of projects increased year-on-year by 17.6 percent, while the value rose by 92.94 percent during the same period.
The Investment Commission also approved 58 outward FDI projects, with a total value of US$1.08 billion, in the first two months. That was an increase of 26.09 percent in the number of projects and 32.33 percent in value compared with the same period last year.
Orders for Fonepad start
PC vendor Asustek Computer Inc (華碩) yesterday said it had started accepting pre-orders for its newly unveiled Fonepad, a 7-inch hybrid gadget with phone and tablet functions.
The Fonepad, which was introduced at the Mobile World Congress in Barcelona, Spain, last month, is scheduled to hit Taiwanese stores at the end of this month, with a price tag of NT$8,990 for a 16GB model, Asustek said.
Asustek is working with Chunghwa Telecom Co (中華電信), the nation’s largest telecoms operator, to sell the Fonepad. Consumers who sign a special two-year contract with Chunghwa Telecom for NT$1,343 a month can obtain a Fonepad at no additional cost.
The Fonepad will also be available at several electronics retail chains and on online shopping sites, Asustek said.
AUO unveils new process
Flat-panel maker AU Optronics Corp (AUO, 友達光電) on Wednesday announced the first zero-liquid discharge manufacturing solution ahead of World Water Day today.
“By going through two recycling stages, the wastewater can be completely retrieved,” the company said in a statement.
Meanwhile, only 0.6 percent of the fuel used in the traditional zero-liquid discharge method is needed for the new operation, AU Optronics said.
E Ink chairman stands down
E Ink Holdings Inc (元太科技), the world’s biggest e-paper display supplier, said on Wednesday the company’s board had approved chairman and chief executive Scott Liu’s (劉思誠) resignation.
The company said it had appointed vice chairman Felix Ho (何奕達) to serve as interim chairman.
Central bank backs greenback
The New Taiwan dollar lost ground against its US counterpart yesterday, declining NT$0.008 to close at NT$29.853, as the central bank intervened to prop up the greenback, dealers said.
Turnover was US$857 million.