TAIEX drops below 9,000
Taiwan’s benchmark index fell below the 9,000 mark yesterday on a Wall Street plunge overnight and a downgrade of the Greek credit rating by Moody’s, which renewed concerns over debt problems in Europe, dealers said.
Caution about the US economic climate after recent disappointing economic data also drove many investors to cut their holdings, dealers said.
The TAIEX closed down 70.99 points, or 0.78 percent, at 8,991.36, after moving between 8,977.67 and 9,036.27 on turnover of NT$111.23 billion (US$3.89 billion).
HP to recall China batteries
China’s quality watchdog said yesterday that US computer maker Hewlett-Packard (HP) plans to recall about 78,740 laptop batteries in China for some HP and Compaq laptops, as they pose a fire hazard.
The batteries, used in laptops produced between July 2007 and May 2008, could overheat and melt, possibly sparking a fire, the Chinese General Administration of Quality Supervision, Inspection and Quarantine said.
The company will replace the batteries for free, it said in a statement.
HP recalled a total of 34,573 laptop batteries in China in May 2009 and May last year for the same reason, the watchdog said.
Quanta gains on share sales
Quanta Computer Inc (廣達電腦), the world’s top contract maker of laptop computers, booked a gain of NT$682 million from the sale of 3.7 million shares of Simplo Technology Co (新普科技), the company said in a statement to the Taiwan Stock Exchange yesterday. Simplo is the world’s largest maker of notebook battery packs.
Catcher sets GDR price
Metal-casing maker Catcher Technology Co (可成科技) set its global depositary receipts (GDR) price at US$32.84 per unit, the company said in a statement yesterday. It sold 33.5 million shares through 6.7 million GDRs, the company said.
Taiwan Glass to sell bonds
Taiwan Glass Industrial Corp (台灣玻璃) plans to sell as much as US$300 million of overseas convertible bonds to help fund raw material purchases and investment abroad, the company said in a statement to the stock exchange yesterday.
Radiant Opto-Electronics Corp (瑞儀光電) also plans to sell as much as US$100 million of five-year overseas convertible bonds to help repay debt and investment abroad, the company said.
Meanwhile, Taiwan Power Co (台電) said yesterday it sold NT$15 billion of bonds in two tranches. The state-run utility will pay 1.65 percent annual interest on the NT$6 billion seven-year debt and 1.75 percent on the NT$9 billion of 10-year notes.
Outstanding loans rise
The Financial Supervisory Commission said on Wednesday outstanding loans extended by 37 banks registered in Taiwan to small and medium-sized companies rose NT$137.9 billion to NT$3.81 trillion at the end of April from the end of last year.
The commission said the loans to small and medium-sized companies accounted for 46.14 percent of the total bank loans to the local business sector at the end of April, up from 45.39 percent at the end of last year.
The non-performing loan ratio on lending to small and medium-sized businesses stood at 0.84 percent at the end of April, down from 0.96 percent at the end of last year, the commission said.
NT dollar dips NT$0.085
The New Taiwan dollar fell against the US dollar yesterday, down NT$0.085 to close at NT$28.785. Turnover totalled US$923 million during the trading session.
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