Taipei shares open sharply higher on US rally; TSMC gains on share buyback |
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Published
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Wed, 14 Nov 2007 02:09
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TAIPEI (XFN-ASIA) - Share prices opened sharply higher following a solid bounce on Wall Street and a big pullback in oil prices overnight.Technology stocks got a boost from Nasdaq's upswing, with TSMC also gaining on news of a share buyback to accommodate a planned stake sale by Royal Philips Electronics NV, dealers noted.TSMC announced yesterday that its board has approved repurchase of up to 3.03 pct of its shares outstanding from the open market for a maximum of 1.5 bln usd, or about 48.50 bln twd.At 9.05 am, the weighted index was up 217.18 points or 2.49 pct at 8,944.39, after opening up 238.45 points at 8,965.66.Turnover was at 14.93 bln twd.TSMC was up 1.30 twd or 2.11 pct at 63.00.(1 usd = 32.30 twd)philip.wang@afxasia.comxfnpw/xfnrcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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| Stock
Quotes * |
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NASDAQ
|
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2792.28 |
22.57 (
0.81 %)
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| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
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CARNIVAL
(
11:35am )
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2017.00 |
46.00 (
2.42 %)
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WHITBREAD
(
11:35am )
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1662.99 |
33.99 (
2.09 %)
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| SYMBOL (
2012-01-19 )
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| LAST |
CHANGE
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IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
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| SYMBOL (
2012-01-19 )
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| LAST |
CHANGE
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Taiwan's TSMC to buy back stake of up to 3.03 pct for 48.50 bln twd 