Wed, Mar 21, 2018 page11

• Taiwan Business Quick Take

  • Staff writer, with agencies
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  STOCKS

  TAIEX falls on Wall Street

  The TAIEX yesterday closed lower in response to a volatile Wall Street overnight, but losses were limited as bargain hunters emerged to pick up select large-cap stocks after the main board fell below the 11,000-point mark, dealers said. Turnover remained moderate, with investors wary over a possible global trade war triggered by Washington’s plan to impose heavy tariffs on Chinese-made goods by Friday. Investors were also cautious ahead of a two-day meeting of the US Federal Reserve’s Federal Open Market Committee, which began yesterday, they said. The index shed 36.06 points, or 0.33 percent, to close at 11,010.84, after moving between 10,981.04 and 11,020.78, on turnover of NT$109.69 billion (US$3.76 billion).

  TECHNOLOGY

  Vive Pro to ship next month

  HTC Corp (宏達電) said it would begin global shipments of its upgraded Vive VR headset — the Vive Pro — on April 5. The Vive Pro, which was unveiled in early January at CES in Las Vegas, carries a price tag of NT$24,988 and US$799 in the US. The Vive Pro offers specifications that improve on the Vive and will enhance the immersive experience for VR players, the New Taipei City-based company said. It is equipped with dual OLED displays, providing 78 percent better resolution than that found on the existing Vive’s head-mounted display. Once the Vive Pro goes on sale, Vive headset prices will be reduced by US$100 to US$499 in the US market and to NT$16,800 in Taiwan, the company said.

  INVESTMENT

  FDI applications rise 300%

  The value of approved foreign direct investment (FDI) in Taiwan last month soared more than 300 percent from February last year after Japan-based Itochu Corp agreed to buy a stake in Taipei 101, the Investment Commission said yesterday. The commission said it approved 208 foreign investment applications (excluding those from China) worth US$905 million, up 342 percent from a year earlier. The jump resulted largely from Itochu’s US$665 million commitment to buy a 37.17 percent stake in the skyscraper from Ting Hsin International Group (頂新集團). The deal, which was announced in December last year, will make Itochu the building’s first foreign shareholder and its second-largest shareholder. The largest shareholder in Taipei 101, which is operated by Taipei Financial Center Corp, is the Ministry of Finance, which controls a 44.35 percent stake through three financial groups.

  ENVIRONMENT

  Leofoo joining Earth Hour

  Leofoo Tourism Group (六福旅遊集團) yesterday said it would participate in the “Earth Hour” Movement on Saturday by turning off lights at its two lodging facilities in Taipei between 8:30pm and 9:30pm, Westine Taipei (台北威斯汀六福皇宮) and the Courtyard Taipei (台北威斯汀六福皇宮). More than 187 countries and 7,000 cities support the annual lights out event.

  BANKING

  Taiwan Financial sets goals

  Taiwan Financial Holding Co (臺灣金控) yesterday said it is to strengthen legal compliance and risk management this year. The state-owned firm told a media briefing in Taipei that its main subsidiary, Bank of Taiwan (臺灣銀行), last year generated an income of more than NT$10 billion despite an increase in provision costs. The bank aims to maintain its leadership position in the syndicated loan business, after commanding a 43.56 percent market share last year, officials said.
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