TAIEX closes higher
Taiwan’s share prices closed higher yesterday with the TAIEX index moving up 34.43 points, or 0.42 percent, to close at 8,092.03.
The local bourse opened at 8,073.52 and fluctuated between a low of 8,039.41 and a high of 8,094.35 during the day’s trading. Market turnover totaled NT$107.41 billion (US$3.4 billion).
Losers outnumbered gainers 1,553 to 1,481 with 339 remaining unchanged.
Foreign investors and Chinese qualified domestic institutional investors were net buyers of NT$4.54 billion in shares.
Yang Ming Marine sells bonds
Yang Ming Marine Transport Corp (陽明海運) said its board approved plans to sell NT$5 billion of five-year secured bonds with an annual interest rate of 1.42 percent, according to a filing to the Taiwan stock exchange yesterday.
The proceeds will be used to refinance domestic unsecured bonds due next year, the statement said.
CHT, Nokia Siemens ink MOU
Chunghwa Telecom Co (中華電信), Taiwan’s largest phone operator, has signed a memorandum of understanding with Nokia Siemens Networks to establish a trial network for long-term evolution (LTE) technology in Taiwan, the Taipei-based operator said in an exchange filing yesterday.
The agreement is valid from yesterday until March 31 next year, it said.
TSMC’s sales beat estimates
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract maker of chips, posted first-quarter sales that beat its own guidance and analyst estimates.
Consolidated revenue for the three months to March 31 was NT$92.2 billion, the Hsinchu-based company said in a statement on its Web site yesterday.
TSMC on Jan. 28 forecast sales of NT$89 billion to NT$91 billion, while analysts expected NT$89.9 billion, according to the mean of 15 estimates compiled by reporters.
Cathay Financial posts Q1 loss
Cathay Financial Holding Co (國泰金控), Taiwan’s largest listed financial services company, posted a first-quarter loss of NT$1.31 billion, or 0.14 per share, after its life insurance arm reported a loss, the Taipei-based company said in an exchange filing yesterday.
Cathay Life Insurance Co (國泰人壽) had a loss of NT$3.99 billion for the three months ended March 31, according to the filing.
7-11 rides strong sales
President Chain Store Corp (統一超商), which runs 7-Eleven stores in Taiwan, yesterday posted 11.4 percent year-on-year rise in first-quarter revenues to NT$26.9 billion, thanks to the strong sales of food, beverages and publications.
Sales last month grew 16.1 percent from a year earlier to NT$9.3 billion, which is the highest ever for March in the company’s history, it said in a statement.
Asustek’s revenues grow
Asustek Computer Inc (華碩電腦), the pioneer maker of netbook computers, yesterday posted first-quarter sales of NT$74.8 billion, a growth of 85.2 percent from the same period of last year, figures posted on its Web site showed.
Revenues last month grew 71 percent to NT$31.7 billion, it said.
Chimei Innolux revenue soars
Chimei Innolux Corp (奇美電子) said yesterday its first-quarter consolidated revenue was NT$68.20 billion, up 46.5 percent from the previous three months.
Shipments of large panels rose 44.1 percent in the first quarter from the previous quarter to 17.77 million units, while shipments of small and medium-sized panels rose 21.7 percent to 44.5 million units, the company said.
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Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
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