TAIEX closes up 0.24 percent
The TAIEX closed up 18.49 points, or 0.24 percent, at 7,621.72 points yesterday. Turnover totaled NT$76.590 billion (US$2.54 billion) during the trading session.
Among the top performing sectors, electronics shares advanced 0.5 percent and computer and peripherals stocks finished up 1.17 percent, while financial stocks shed 0.63 percent.
Milk powder tariff cut
Minister of Finance Lee Sush-der (李述德) said yesterday the customs tariff committee would discuss a temporary reduction of tariffs for milk powder at its meeting on Monday next week.
Last week, several lawmakers said the ministry should temporarily reduce the customs tariff on infant milk powder to reduce the burden on parents and help increase the nation’s fertility rate.
Taichung to Hanoi route opens
The maiden flight of Mandarin Airlines’ (華信航空) new service between Greater Taichung and Hanoi departed yesterday morning amid hopes direct flights would attract more international visitors to the city.
The flight was the first to depart from Greater Taichung Airport for an international capital, Greater Taichung Deputy Mayor Tsai Ping-kun (蔡炳坤) said at a ceremony.
Many Taichung-based manufacturers have investments in Vietnam, so the new service would provide local businesspeople with a much needed service, Tsai said.
Taishin net income surges
Taishin Financial Holding Co (台新金控) said yesterday it earned NT$800 million in net income last month, surging 77.78 percent from September on improving profitability at its banking arm.
Taishin International Bank (台新銀行) saw its net income gain NT$310 million to NT$710 million last month, as the local bourse -recovered some lost ground, Taishin Financial said.
Cumulative earnings rose to NT$8.3 billion as of last month at Taishin Financial, translating into earnings per share of NT$1.12, the group said.
Oil purchases slid last month
The nation purchased less crude oil last month after industrial output slowed. Shipments declined 1.7 percent from a year earlier to 24.4 million barrels last month, the Ministry of Finance said yesterday. The nation’s oil bill climbed 38 percent to US$2.62 billion last month, the ministry said in a statement.
Meanwhile, the nation imported 1.3 million tonnes of liquefied natural gas last month for US$1.04 million, according to data from the Directorate-General of Customs.
The amount was 73 percent higher than about 747,000 tonnes bought a year earlier, according to customs data.
Mega Financial profits fall
Mega Financial Holding Co (兆豐金控) yesterday posted NT$1.19 billion in net profits last month, 15.86 percent lower than a month earlier and 6.24 percent year-on-year, as bearish sentiment continued to weaken earnings at its securities brokerage unit, its statement indicated.
Net income totaled NT$15.48 billion for the first 10 months, or earnings per share of NT$1.37, the statement said.
Bank scraps bond sale
Far Eastern International Bank (遠東國際商銀) scrapped a plan to issue as much as US$200 million in five-year overseas convertible bonds because of the European debt crisis and slowdown in the US economy, the lender said in a statement to the Taiwan Stock Exchange yesterday.
NT dollar falls retreats
The New Taiwan dollar fell against the US dollar yesterday, declining NT$0.083 to close at NT$30.108.
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