Thu, Sep 27, 2018 page11

• Taiwan Business Quick Take

  • Staff writer, with CNA
  • • 
    • 
    • 

  EQUITIES

  Little local movement

  Local shares yesterday continued to move within a narrow range and closed little changed as the US maintained its tough line on its trade dispute with China. Caution continued to dominate the trading session before the US Federal Reserve’s two-day policymaking meeting concluded later in the day. The TAIEX ended down 4.66 points, or 0.04 percent, at 10,974.19 on turnover of NT$106.68 billion (US$3.48 billion). Foreign institutional investors bought a net NT$726 million in shares, compared with a net buying of NT$4.73 billion on Tuesday, the Taiwan Stock Exchange said.

  ENTERTAINMENT

  HIM shares tumble 10%

  Shares of record label HIM International Music Inc (華研國際) dropped by the daily maximum of 10 percent yesterday after the company confirmed a day earlier that it might face changes in agency contracts with S.H.E. singers Selina Jen (任家萱) and Hebe Tien (田馥甄). The other S.H.E. singer, Ella Chen (陳嘉樺), transferred her contract to her husband, Alvin Lai (賴斯翔), after its expiration in September last year. HIM shares closed at the lowest level in nine months at NT$89 in Taipei trading. They have dropped 50 percent from their April high of NT$178.5, Taiwan Stock Exchange data showed.

  RATINGS

  S&P upbeat on TSMC

  S&P Global Ratings yesterday raised its long-term credit rating on Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to “A+” from “AA-,” saying that the world’s largest contract chipmaker has strengthened its competitive position by widening its technological leadership. TSMC’s improvement in process technology relative to Intel Corp would help it further increase its access to high-performance computing markets, such as server central processing units, S&P said. TSMC might further extend its technology leadership if it increases production of 5-nanometer process technology in the first half of 2020, the agency said.

  LEASING

  Strong profits for Chailease

  Chailease Holding Co (中租控股), the nation’s top leasing services provider, on Tuesday posted NT$8.91 billion in net income for the first eight months of the year, up 45 percent from the same period last year, with earnings per share of NT$6.91, the highest for the period in the company’s history. Chailease attributed the results to strong profit growth of 76 percent in its China operations, 32 percent profit growth in ASEAN markets and a 22 percent profit increase in Taiwan business. The firm said it has seen limited impact from escalating trade tensions between the US and China, as it focuses on domestic business in China.

  STEELMAKERS

  CSC surges on sales, prices

  China Steel Corp (CSC, 中鋼), the nation’s biggest steelmaker, on Tuesday said that its pretax profit last month surged 116.3 percent annually to NT$3.16 billion, or NT$0.19 per share, on rising sales volume and higher steel prices. In the first eight months of the year, pretax profit totaled NT$20.19 billion, or NT$1.28 per share, the company said in a statement. Operating profit soared 135.24 percent to NT$3.53 billion annually last month, with cumulative operating profit in the first eight months growing 49 percent annually to NT$21.52 billion, the company said. Revenue climbed at a slower rate of 10.28 percent to NT$33.38 billion last month year-on-year and cumulative revenue increased 16 percent to NT$262.51 billion over the period, it said.
• Most Popular

  • 1

    Manila enhancing defense cooperation with Taiwan: report

  • 2

    TSMC’s materials executive quits

  • 3

    China drills ‘incompatible’ with Strait peace: Japan

  • 4

    Drills focus on stopping enemy landing

  • 5

    Tropical Storm Nari not a threat to Taiwan: CWA