CPC raising LPG prices
State-run oil refiner CPC Corp, Taiwan (CPC, 中油) yesterday said it would raise liquefied petroleum gas (LPG) prices this month to reflect the increase in international contract prices. After the latest pricing adjustments, LPG prices for households will increase by NT$1 to NT$33.91 per kilogram, CPC said. LPG prices for automobiles will also rise to NT$24.3 per kilogram from NT$23.8 per kilogram last month, it said. In addition, the price of liquefied natural gas will increase by 2.92 percent this month. With the price of natural gas for households rising to NT$19.16 per cubic meter, households using up to 45 cubic meters of natural gas a month will have to pay about NT$23.85 more for their bill, CPC said.
TAIEX hit by poor earnings
The Taiwan Stock Exchange index yesterday closed below the 8,400-point mark amid lingering concerns over corporate earnings, partly fueled by disappointing third-quarter results from touchpanel supplier TPK Holding Co (宸鴻). The TAIEX closed down 61.88 points, or 0.73 percent, at 8,388.18. TPK shares fell by the 7 percent limit, closing at NT$192.50, after the touchpanel maker reported a 67.7 percent sequential fall in third-quarter net income. Amid fierce price competition, TPK forecast that its operating margin would continue to fall to 2 to 3 percent in the fourth quarter from the third quarter’s 4 percent.