TAIEX slides 0.5 percent
The TAIEX dipped 0.5 percent yesterday, following the fall on Wall Street a day earlier amid concern over the ongoing nuclear crisis in Japan and poor US economic data, dealers said.
The weighted index closed 41.89 points lower at 8,282.69 on turnover of NT$133.26 billion (US$4.5 billion) after rebounding from the day’s low of 8,150.73.
A total of 1,671 stocks closed up, 2,625 were down and 433 remained unchanged.
EVA adjusts Japan flights
EVA Airways Corp (EVA, 長榮航空), the nation’s second-biggest airline, said yesterday it could “flexibly” add flights from Japan to Taiwan if there was more demand from people returning to Taiwan.
EVA announced the cancelation of 55 flights to Japan, including all 38 flights to Sendai City, the capital of Miyagi Prefecture, until June 30.
It also canceled 12 flights to Tokyo and five to Sapporo for the rest of this month.
However, the carrier would increase flights as needed for travelers returning to Taiwan, a company press release said.
“We will take all passengers in need back to Taiwan,” an EVA public relations officer said, adding that “the company’s remaining flights from Tokyo to Taipei have not been fully booked.”
EVA plans to fly a vacant plane to Tokyo’s Haneda Airport today to offer an additional flight back to Taipei International Airport this afternoon, the release said.
TSMC confident of prospects
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) dismissed a report in the Chinese-language Economic Daily News yesterday that said its second-quarter results might be affected by the earthquake and tsunami in Japan last Friday.
“While we do not exclude the possibility that this earthquake and its follow-on effects may impact the global electronics supply chain, TSMC believes that the impact will be brief, as we believe global demand for electronics end products remains strong,” the Hsinchu-based company said in a statement to the stock exchange.
“Should demand be temporarily depressed because of unstable supply, the market would quickly pick up to meet this pent-up demand once the supply chain returns to normal,” it said.
Formosa Petro declares payout
Formosa Petrochemical Corp (台塑石化) plans to distribute a cash dividend of NT$3.90 per share based on last year’s earnings, the company said in a statement to the stock exchange yesterday.
Last year, the company posted a net income of NT$40.9 billion, or NT$4.30 per share, according to a separate statement. The numbers were revised from unaudited figures of NT$41.2 billion, or NT$4.33 per share, announced on Jan. 7.
NT relatively stable: Perng
The New Taiwan dollar has remained relatively stable in comparison with other Asian currencies since Japan was rattled by a magnitude 9.0 earthquake and tsunami last Friday, the central bank said yesterday.
The local currency fell by NT$0.018 against the US dollar to close at NT$29.574 yesterday.
Central bank Governor Perng Fai-nan (彭淮南) told lawmakers that the NT dollar had suffered a smaller depreciation compared with other Asian currencies over the past few days.
Comparing the closing prices of major Asian currencies from March 10 to yesterday, the South Korean won depreciated 0.8 percent, the Singapore dollar dropped 0.52 percent and the Thai baht fell 0.25 percent, while the NT dollar edged down a mere 0.17 percent, Perng said.
Luxury hotel Mandarin Oriental Taipei (文華東方酒店) plans to reopen its guestrooms in December to take advantage of a boom in domestic travel. The reopening would come six months after the five-star facility suspended room operations to cut costs as countries across the region impose border controls to contain the COVID-19 pandemic, diminishing demand for business travel. “We are delighted to share that Mandarin Oriental Taipei will resume room operations on December 1,” the hotel said in a statement yesterday. The hotel in Songshan District (松山) said it would adopt stringent health and safety practices to ensure the well-being of its guests and employees. It
India’s COVID-19 economic gloom turned into despair this week, on news that its per capita GDP for this year might be lower than that of Bangladesh. “Any emerging economy doing well is good news,” Kaushik Basu, a former World Bank chief economist, said on Twitter after the IMF updated its World Economic Outlook. “But it’s shocking that India, which had a lead of 25% five years ago, is now trailing.” Ever since it began opening up the economy in the 1990s, India’s dream has been to emulate China’s rapid expansion. After three decades of persevering with that campaign, slipping behind Bangladesh hurts
When the COVID-19 pandemic shut down bars and concert halls in the US in March, a new phenomenon was born: the vacation-rental nightclub. Professional party promoters started scanning Airbnb, Vrbo and other short-term rental sites for mansions and luxury condos for hire. Tickets were going for US$90 on Eventbrite and TikTok for soirees with bottle service and DJs. “People were looking to escape from their own homes and came into our tiny neighborhood to party all day, every day,” said Kristen Robinson Doe, a resident of a quiet suburban Dallas neighborhood, where a party pad was being rented out for more than
HSBC Bank (Taiwan) Ltd (匯豐台灣商銀) has approved two sustainability-linked loans totaling NT$450 million (US$15.55 million) for Taya Group (大亞集團) and Sinbon Electronics Co (信邦電子), the bank said yesterday, adding that interest rates would fall if the borrowers’ sustainability performance improves. Those marked the first sustainability-linked loans granted by HSBC Taiwan, it said. While HSBC Taiwan has experience providing green loans for the nation’s developers of renewable energy sources to support their projects, the bank began focusing on sustainability-linked loans to meet rising demand from companies in other sectors planning to undertake sustainability programs, it said. “As we reward our clients who reach their