TAIEX rises on eurozone hope
The TAIEX rose yesterday on the back of rotational buying, as investors embraced hopes that Germany would support a plan to expand the European bailout fund to resolve the debt crisis in the eurozone, dealers said.
However, turnover shrank amid lingering caution over the sluggish global demand that has greatly affected Taiwan’s high tech exports, dealers said.
The TAIEX rose 35.63 points, or 0.5 percent, to close at 7,182.61, after moving between 7,061.01 and 7,218.57, on turnover of NT$91.64 billion (US$3.01 billion).
TWSE launching mechanism
The Taiwan Stock Exchange (TWSE) said yesterday it would launch a simulation mechanism to match orders five minutes before market close (1:25pm to 1:30pm), in a bid to reinforce market information disclosure.
The new mechanism is scheduled to start on Feb. 20 next year, the TWSE said. Under the new system, whenever a stock rises or falls more than 3.5 percent in the simulation, orders will not be matched by 1:30pm, but trade of the stock will be suspended for two minutes from 1:31pm so that investors can adjust their bidding or ask for or even cancel orders, the TWSE said.
All banks pass stress tests
All 36 domestic banks passed the stress tests conducted from April, the Financial Supervisory Commission said in a statement yesterday.
The lenders’ average capital adequacy and tier-one capital ratios were higher than the minimum requirements of 8 percent and 4 percent respectively, it said.
HTC launching Beats phone
HTC Corp (宏達電), the world’s No. 5 smartphone brand, yesterday announced its first smartphone incorporating Beats Electronics LCC’s audio technology would be available in Taiwan next month.
The Sensation XE is an upgraded version of its flagship Sensation model launched in June.
Users could opt to enjoy optimal sound by clicking “Beats audio” on the selection mode when listening to the music and watching video clips. It claimed Beats audio offers sound quality that matches studio recording levels.
HTC also collaborates with Beats for in-ear headphones for the Sensation XE. HTC recently acquired a controlling stake in Beats.
U-Ming sees tough year ahead
U-Ming Marine Transport Corp (裕民航運), the Taiwanese operator of dry-bulk ships, expects next year to be a “difficult year” for the market because of the launch of more large ships and higher iron-ore production in China.
“Next year there will be another wave of big ships coming in,” U-Ming president C.K. Ong (王書吉) said on Wednesday in Singapore.
It is “going to be a difficult year,” he said.
NT dollar falls slightly
The New Taiwan dollar fell against the US dollar yesterday, down NT$0.03 to close at NT$30.440.
Turnover totaled US$764 million during the trading session.
Chinatrust delists in Philippines
Chinatrust Commercial Bank (中信銀) on Thursday announced it would delist its subsidiary on the Philippines’ bourse, a decision that still needs regulatory approval there.
The lender attributed the delisting to Philippine’s stock exchange regulation changes that set a 10 percent minimum for shares in circulation for all listed firms there.
Chinatrust owns 99.41 percent shares in the subsidiary and sees no need to meet the new requirement given the thin trading volume for its shares for the past year, the statement said.
It owns 24 branches in the Philippines and set up the subsidiary in 1995.
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
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
FRONTRUNNER: While the company’s global parent has pledged to lower emissions to 2 tonnes per employee, the local subsidiary has curbed its output to 1.8 tonnes HSBC Bank Taiwan Ltd (?豐台灣商銀) is committed to enhancing corporate social responsibility by cutting carbon emissions, boosting sustainable financing and conducting projects that result in positive social impacts such as wild bird protection, the bank said in an interview in Taipei on Friday. The bank aims to reduce its carbon emissions as its parent company, HSBC Holdings PLC, earlier this month said it targets to reduce emissions in its daily operations and supply chains to net zero by 2030, as well as net zero emissions of its portfolio of customers by 2050, it said. HSBC Taiwan has adopted measures to make its
‘NEW TRAVEL MARKET’: The carrier initially planned to lay off about 8,000 people globally, but after government intervention reduced that to 18 percent of its workforce Cathay Pacific Airways Ltd (國泰航空) would cut 6,000 jobs and close its Cathay Dragon brand, the South China Morning Post reported, as part of a strategic review to combat the unprecedented damage caused by the COVID-19 pandemic. The Hong Kong-based airline is expected to officially announce the plan after the market close today, the newspaper said. It initially planned about 8,000 layoffs globally, but after government intervention reduced that to 18 percent of its total workforce, including about 5,000 jobs in Hong Kong, it said. The company, which posted a HK$9.9 billion (US$1.3 billion) loss in the first half, has for months