TAIEX loses ground
Taiwanese share prices closed down 0.36 percent in thin trading yesterday as investors took cues from Wall Street’s weakness after a disappointing US payroll report, dealers said.
The weighted index fell 25.18 points at 6,977.36, off a low of 6,927.31 and a high of 7,010.93, on turnover of NT$60.68 billion (US$1.98 billion).
Capital Securities (群益證券) analyst Chen Yu-yu (陳育娛) said market movements in the US still dictated the gyrations of the local bourse as US employment data for last month had raised concerns over a faltering US economy.
“As long as Wall Street remains unstable, Taiwan cannot isolate itself from volatility suffered by global markets in the near term,” Chen said. “I do not rule out the possibility that the weighted index will test 6,800 points again this week.”
The tourism sector was down 5.75 percent, hit by local newspaper reports that the number of Chinese visitors to Taiwan was lower than expected, averaging 173.9 people per day, far lower than the daily target of 3,000 visitors.
Cash Box may sell buildings
After closing three outlets, Cash Box KTV (錢櫃) — the nation’s biggest karaoke chain — may plan to liquidate its two buildings in Taipei for up to NT$700 million (US$22.8 million) in total cash, local media reported yesterday.
Real-estate appraisers said the company’s building near Sogo department store on Zhongxiao E Road may be worth more than NT$200 million at NT$3.5 million per ping (3.3m²), while the building on Zhonghua Road would also be worth more than NT$200 million at NT$1.3 million to NT$1.4 million per ping.
But the media, citing anonymous sources, speculated that Cash Box may ask as much as NT$700 million for the buildings.
To continue its operations at the sites, Cash Box may plan to rent back the buildings from its new buyers once sales are completed, local media reported.
Lin takes First Financial reins
First Financial Holding Co (第一金控) yesterday named company vice president Lin Ying-hsiung (林英雄) as acting president after former president Wu Chin-yun (吳清雲) died of heart failure on Saturday.
During a hiking trip on Saturday morning, Wu suffered a sudden brain hemorrhage, which led to heart failure, doctors said.
The company expressed shock at the sudden death of Wu, who had worked for First Financial for more than 30 years and was named president two years ago.
Wu had planned to retire next year, the company said in a statement.
Produce offered online
The Changhua County Government yesterday launched a Web site selling vegetables, fruit and farm products online.
The site, agec.chcg.gov.tw, is part of the county government’s efforts to provide more sales channels for farm and fishery products from the county’s 26 townships, Changhua Commissioner Cho Po-yuan (卓伯源) said.
The Web site is also aimed at advertising the county’s farm produce, said Chiu Shih-ping (邱士平), head of the county’s Department of Agriculture.
To ensure food safety, the county government is cooperating with 15 local farms to sell goods with traceability certification on the Web site, he said.
Other local governments have launched similar efforts to promote or market their farm produce on the Internet.
Taiwan has an Internet population of 14.8 million, up 1.7 percent from a year ago, a study released by the Institute for the Information Industry showed in February.
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