■ TAIEX takes a fall
Share prices closed 0.53 percent lower yesterday, extending losses after a lackluster performance on Wall Street and on continuing concerns over relations with China, dealers said. They said that with the regional markets all under pressure as investors turned more wary on the outlook for global interest rates, there was no local lead to provide support, leaving stocks to continue lower. The TAIEX lost 34.58 points to finish at 6,459.57, on a daily turnover of NT$90.45 billion (US$2.79 billion). Decliners led risers 509 to 411, with 199 stocks unchanged. A total of 12 stocks closed limit-down and nine limit-up.
■ Chinese kids can study
The Mainland Affairs Council yesterday announced it has decided to amend the laws to allow the children of Chinese citizens employed by multinational companies to study in Taiwan should the foreign companies need to send their Chinese employees here. Chen Huei-ying (陳會英), director of the council's Department of Cultural and Educational Affairs made the announcement yesterday in response to calls from the American Chamber of Commerce in Taipei (AmCham) and European Chambers of Commerce Taipei, which have asked the council several times to help on the issue. Chen said the council has decided to allow Chinese children under 18 to study under the same regulations that allow the children of foreign technology professionals to study in Taiwan. The official said it will take several months before the measures take effect.
■ Yahoo China in trouble
Yahoo China may face lawsuits from record labels, as its music search engine is found to link directly to unlicensed downloads and streams of songs by domestic and international artists, according to a Billboard report published yesterday. One example of apparent copyright infringement on the Yahoo China site are links to music by the Beatles, but the band's catalog has never been licensed to a digital service, according to the Billboard report. One Yahoo China official denied that such links are examples of copyright violation, saying Yahoo is a Web directory, and that any violations are the responsibility of that site, the report said.
■ No energy worries, says MOEA
Minister of Economic Affairs Morgan Hwang (黃營杉) said yesterday that there will be "no problem" with electricity supply next year. Hwang was responding to reports that Taiwan could face power shortages next year due to a delay in the completion of the Fourth Nuclear Power Plant in Gongliao Township (貢寮), Taipei County. He said the media failed to include the nation's 7 percent cogeneration power producing systems in their analysis. Also, the Tatan power plant located in Taoyuan County can supply natural gas through a ground pipe if the existing undersea pipeline cannot supply sufficient gas. In the event that the natural gas supply is insufficient, the ministry will also consider burning fuel oil as an alternative, although it will be a last resort due to the high costs involved.
■ NT falls against greenback
The New Taiwan dollar continued to lose ground against its US counterpart, declining NT$0.001 to close at NT$32.530 on the Taipei foreign exchange market yesterday. Turnover was US$986 million.
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