TAIEX bounces back
The TAIEX yesterday recouped almost all of the losses suffered in the previous session, as concerns over the debt crisis in the eurozone eased after European leaders guaranteed that financially troubled Greece would stay in the eurozone, dealers said.
Following a 2.61 percent increase in the Philadelphia Semiconductor Index overnight, investors scrambled to pick up high tech stocks, in particular semiconductor shares, but buying also spread to other sectors until the end of the session, dealers said.
The TAIEX closed up 157.21 points, or 2.17 percent, at 7,385.68, after moving between 7,348.21 and 7,430.29, on turnover of NT$101.14 billion (US$3.41 billion).
External debt paid off
Taiwan has no external debt after repaying the last installment of US$238,238 to Saudi Arabia yesterday, the Ministry of Finance said in a statement.
The ministry said the government borrowed US$15.76 million from Saudi Arabia in 1976 to build the Zhongsha Bridge in central Taiwan.
The government has outstanding domestic debts of NT$4.6 trillion as of the end of last month, which is about 34.67 percent of average annual GNP for the last three years, the ministry said.
Firms to move into HBSP
A total of 12 firms have been approved to take up residence in the Hsinchu Biomedical Science Park (HBSP) with NT$1.62 billion (US$54 million) in investments, park authorities said yesterday.
The 12 firms are the first investors to enter the science park, said Hsinchu Science Park (HSP), which currently operates the biomedical park.
HSP said the 12 investors would be located in the biomedical park’s biotech building, where they would develop technology including artificial tooth roots, orthopedic implants, drug delivery systems and other high-end medical products.
Inventec employees killed
Notebook contract maker Inventec Corp (英業達) yesterday said 11 employees died and 13 were injured in a bus crash in Shanghai on Wednesday night.
A company shuttle bus carrying 24 employees was heading back to the staff dormitory after completing maintenance work at a client’s facility, Inventec said in a statement.
The bus collided with the vehicle in front and then flipped over after running into the protective railing.
Fubon Life buys real estate
Fubon Life Insurance Co (富邦人壽) purchased NT$1.59 billion in real estate in Taipei city yesterday, parent company Fubon Financial Holding Co (富邦金控) said in a statement to the Taiwan Stock Exchange.
The life insurer also plans to buy shares in the Hong Kong listing of CITIC Securities Co (中信證券) and Tenfu (Cayman) Holdings Ltd (天福開曼控股), Fubon Financial said in separate statements to the stock exchange, without providing further details.
NT dollar falls back
The New Taiwan dollar fell against the US dollar yesterday, shedding NT$0.01, to close at NT$29.635 after the greenback recouped early losses with local central bank intervention, dealers said.
The greenback’s rebound also reflected lingering concerns over the debt crisis in Europe, although European leaders guaranteed that financially-troubled Greece would stay in the eurozone.
The fall of the South Korean won and the Japanese yen added downward pressure on the NT dollar, they added.
Turnover totalled US$838 million during the trading session.
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Some robotaxi passengers were left stranded in the middle of fast-moving traffic in a major Chinese city after their driverless vehicles stopped running, according to police and media reports on Wednesday. A preliminary investigation indicates more than 100 robotaxis came to a halt because of a “system malfunction,” police in the city of Wuhan said in a statement, without elaborating. No injuries were reported. One passenger told Chinese media that their robotaxi stopped after turning a corner. An instruction on a screen read: “Driving system malfunction. Staff are expected to arrive in 5 minutes.” After no one showed up, the passenger pushed
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