The TAIEX rose yesterday, led by Hua Nan Financial Holdings Co (華南金控), on a report the owner of the island's fifth-largest bank by assets expects earnings to surge more than two-thirds in the next five years.
The index gained 23.50, or 0.4 percent, to 5729.90, bringing its advance to 5.3 percent in the past four days. Within the index, about 13 stocks rose for every 10 that fell. The total value of trade was NT$68.4 billion (US$2 billion), more than two- fifths below the six-month daily average of NT$122.4 billion.
China Airlines Co (華航) fell by its daily limit after the fourth fatal crash in eight years brought the number of deaths on Taiwan's largest carrier to 699 since 1991, scaring customers away and raising insurance costs.
"Insurance costs will rise and passengers will lose confidence in flying China Airlines," said Li Fang-kuo, head of research at IBT Securities Co (台灣工銀證券), which manages more than NT$4 billion in stocks. "With all the financial pressure it's facing, its shares will plummet."
Hua Nan Financial Holdings gained NT$1.60, or 6.7 percent, to NT$25.50. TA newspaper reported the company expects earnings per share to rise 69 percent by 2007. China Airlines shed NT$1.10, or 6.8 percent, to NT$15.20.
The following stocks made significant gains or losses: AU Optronics Corp (友達光電) rose NT$1.10, or 2.5 percent, to NT$45.60. The world's third-largest flat-panel display maker raised $578.5 million from an overseas share sale.
Behavior Technology Computer Corp (英群) surged NT$2, or 6.9 percent, to NT$30.80. The computer equipment maker, which posted a loss in 2001, said its earnings outlook this year improved.
Chunghwa Picture Tubes Ltd (中華映管) rose NT$1.40, or 5.1 percent, to NT$28.70. Taiwan's second-largest flat-panel display maker plans to boost its domestic workforce by 6 percent in the next month as it expands production, Ettoday.com reported.
Chunghwa Telecom Co (中華電信) rose NT$1, or 2 percent, to NT$52. The government said it plans to sell 5.7 percent of the island's largest phone company for at least NT$27.9 billion.
Compeq Manufacturing Co (華通), Taiwan's largest printed-circuit-board maker, fell NT$3.50, or 6.3 percent, to NT$52. Spokesman S.C. Hung confirmed a report that Compeq will post its second quarterly loss in the three months ended June 30 because of technical problems with the production of a part used with Intel Corp.'s Pentium 4 processor.
Fubon Financial Holding Co (富邦金控) fell NT$0.30, or 0.9 percent, to NT$34.40. The financial firm, which owns Taiwan's largest non-life insurer and covered 17 percent of the insurance of the crashed China Airlines plane and some passengers, expects a loss of NT$96 million from the crash.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique