Corporate earnings lift shares
Taiwanese shares closed up 2.84 percent yesterday on improved corporate earnings at big caps, shrugging off fears of tension with China over the Dalai Lama’s controversial visit, dealers said.
The weighted index rose 193.80 points to 7,019.75 on turnover of NT$139.06 billion (US$4.23 billion).
The market opened flat but gained momentum throughout the session despite fears that the visit by Tibetan spiritual leader the Dalai Lama might hurt fast-warming ties across the Strait.
“Investor concerns seemed to have eased after the government tried to control the damages [the visit] may bring to the cross-strait ties,” Mars Hsu of Grand Cathay Securities (大華證券) said.
The market was led by big caps, whose corporate earnings reports for the first half of this year beat forecasts.
Digital Taipei 2009 opens
Digital Taipei 2009, hosted by the Ministry of Economics’ Industrial Development Bureau, inaugurated its three-day trade fair yesterday with an aim to promote the nation’s prowess in digital entertainment.
Over 100 representatives from Canada, Australia, Germany, China and other countries gathered to share their expertise, but the focus is on China’s top three cartoon TV networks and the associated purchase opportunities they bring, as well as possible cross-strait collaboration on animation projects.
Domestic content providers Sofa Studio (首映創意), Chinese Cartoon Production Co (中華卡通) and Click Multimedia Co (和利得多媒體) — along with 11 others — are vying for business opportunities from China.
Purchase and alliance announcements are expected to be made later during the fair.
Professionals are also expected to present technologies such as applications catered to smartphones and mobile Internet devices and three-dimensional auto-stereoscopic displays.
Unpaid leave declining: CLA
The number of workers on unpaid leave in Taiwan dropped further last month to about one-fourth of the figure posted in the peak month of March, the Council of Labor Affairs (CLA) reported yesterday.
The council said in a statement that as of Monday some 614 businesses were still mandating unpaid furlough, with 58,983 workers affected.
That was a drop of around 75 percent from the March level, when 238,975 workers were on unpaid leave.
It was also the lowest number recorded since mid-January, when the CLA required companies to notify the council of the number of workers on unpaid leave.
CPC raises liquid gas prices
State-run CPC Corp, Taiwan (CPC, 台灣中油) is raising wholesale prices on liquefied petroleum gas (LPG) by NT$1.5 per liter, effective today.
LPG products such as household LPG, propane and butane, as well as propane/butane mixes, will all go up by NT$1.5 per liter, while automotive LPG will increase NT$0.8 per liter, CPC said.
In addition, natural gas prices will increase 2.99 percent on average. Fuel oil is expected to go up by NT$386 per tonne.
The price of a 20kg household gas cylinder is expected to increase by NT$30, CPC said. Worldwide propane prices rose by US$75 last month, compared to July, the Australian Liquefied Petroleum Gas Association Ltd Web site showed.
New Taiwan dollar gains
The New Taiwan dollar yesterday gained NT$0.065 to close at NT$32.875 against the greenback on turnover of US$643 million.
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