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Friday, November 28, 2014
Organization of Petroleum Exporting Countries (OPEC) ministers met Thursday to decide whether to slash oil production amid a glut in global supplies, sending crude prices to new lows ahead of their pivotal vote.
Life insurers' negative interest spreads are expected to be reduced thanks to a decline in the cost of insurance liabilities and improvements in recurring investment yields on rising market interest rates, said a Fitch Group report.
Apple may have Hon Hai make new displays
Apple is reportedly enlisting Hon Hai Precision Industry (鴻海精密工業), also known as Foxconn Technology, to produce sapphire displays for the company's next flagship mobile devices.
Shares in Taiwan closed higher Thursday as investors were encouraged by a new record high on Wall Street overnight to buy into local shares and extend gains from a session earlier, dealers said.
More than 60 percent of the companies listed on the local over-the-counter (OTC) market were profitable in the third quarter of this year, GreTai Securities Market (GTSM,證券櫃檯買賣中心), which operates the OTC market, said Thursday.
The U.S. dollar fell against the New Taiwan dollar Thursday, shedding NT$0.001 to close at NT$30.951 as traders here took cues from the strength of the South Korean won and other regional currencies to cut their greenback holdings, dealers said.
Shares of MediaTek Inc. (聯發科技), one of Taiwan's leading integrated circuit (IC) designers, got a boost Thursday morning from upbeat assessments by foreign brokerages toward its shipments of fourth-generation (4G) smartphone chips to the huge China market, which could improve the company's gross margin, dealers said.
Share prices drifted Thursday but expectations for new stimulus in China and Europe helped to limit losses.
The euro lost more ground in Asia on Thursday after a European Central Bank (ECB) official's dovish comments boosted speculation about further easing measures, while lackluster U.S. data weighed on the dollar.
Oil prices retreated further in Asia Thursday on expectations the Organization of the Petroleum Exporting Countries (OPEC) cartel will keep production at present levels despite pressure over falling prices at a key meeting later in the day, analysts said.
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