TAIEX gains 1.13 percent
Taiwanese shares closed higher yesterday, with the TAIEX increasing 93.42 points, or 1.13 percent, to close at 8,289.98.
The bourse opened at 8,245.86 and traded between 8,313.94 and 8,237.67 during the session.
A total of 4.83 billion shares changed hands on market turnover of NT$146.08 billion (US$4.6 billion).
Gainers outnumbered losers 2,086 to 1,019, with 275 stocks remaining unchanged. Foreign institutional investors were net buyers of NT$10.6 billion in shares.
TSMC plans to hire 3,000
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday said it planned to hire more than 3,000 new engineers this year to cope with capacity expansion and technology development.
The announcement came after handset chip designer MediaTek Inc said it planned to add 10 percent to its workforce this year.
The Hsinchu-based chipmaker plans to hold several recruitment meetings in Hsinchu and Tainan from today through March 20, a company statement said.
Cathay Financial books gain
Cathay Financial Holding Co (國泰金控) said its banking unit booked a gain of NT$6.7 million in a NT$440 million land sale in Taichung, a stock exchange filing showed yesterday.
This news came after Cathay Financial, the nation’s biggest financial services provider, said last Friday that its insurance unit would acquire land and a building in Taipei for NT$960 million.
The company posted a preliminary net profit of NT$11.05 billion last year, compared with a net profit of NT$2.2 billion in 2008.
Nomura increases Asia hiring
Nomura Holdings Inc, Japan’s biggest investment bank, will add as many as 125 people to its fixed-income teams in Asia outside Japan this year as part of a plan to increase revenue from the region by at least 30 percent.
The Tokyo-based lender will focus on expansion in South Korea, Taiwan, China and India, while also hiring in Singapore and Hong Kong, said Jai Rajpal, Asia ex-Japan head of fixed income.
“The focal point is how do we get closer to our clients, especially in Asia, which is a highly fragmented market,” Rajpal said in an interview in Singapore. “The only way to do that is by being local.”
Key forum starts next week
Economists and entrepreneurs from across Asian have been invited to attend the CommonWealth Economic Forum in Taipei on Monday and Tuesday to exchange views on new engines of economic growth in Asia after the global financial crisis.
The two-day event will feature three keynote speakers: former Singaporean deputy prime minister Tony Tan (陳慶炎); Economist executive editor Daniel Franklin; and Taiwan Semiconductor Manufacturing Company (台積電) chairman Morris Chang (張忠謀).
Topics to be discussed at the six sessions include a new development model for the economy; innovation and branding; the rise of Asian enterprises; opportunities and challenges in Greater China’s economic circle; economic cooperation across the Taiwan Strait; and the future of the financial sector.
Local currency gains ground
The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.054 to close at NT$31.755.
A total of US$537 million changed hands during the day’s trading.
The local currency opened at NT$31.809 and fluctuated between NT$31.736 and NT$31.809.
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