Imports reflect pick-up
The nation’s oil imports increased last month as manufacturing rebounded, the Ministry of Finance said yesterday. Last month’s shipments rose 12 percent from a year earlier to 27.4 million barrels, while the oil-import bill climbed 3.7 percent to US$2.81 billion, the ministry said in a statement.
Credit Suisse cuts forecasts
Credit Suisse Group AG has cut its earnings estimates for contract notebook computer makers Wistron Corp (緯創), Compal Electronics Inc (仁寶) and Quanta Computer Inc (廣達) because of lukewarm demand as consumers wait for new products from major brands to hit the market. The bank said in a report on Friday that it has lowered its earnings per share estimates for Wistron, Compal and Quanta for this year by 8.5 percent, 8 percent and 1 percent respectively to reflect lower notebook shipments.
US jobs news affects bonds
The nation’s bonds fell, with the five-year yield touching the highest level since July 2011, after a US jobs report spurred speculation the US Federal Reserve will begin cutting stimulus measures. The yield on the 0.875 percent notes due January 2018 rose two basis points, or 0.02 percentage point, to 1.16 percent in Taipei, according to the GRETAI Securities Market. It jumped to 1.21 percent earlier, the highest for a five-year benchmark since July 2011, data compiled by Bloomberg show.