Jan

16

Morning Tea for Tue, Jan 16

January 16, 2007 |

The broader market opened higher yesterday, rising to 7,814. The market fell during the mid day below Friday’s close. The market did recover by 11am and traded flat the rest of the day to close at 7,783, up 22.79.

The US markets were closed on Monday for the Martin Luther King holiday. Asian markets followed the US lead from Friday and traded higher. The US markets re-open on Tuesday, in the midst of the Q4 earnings season.

The Rebar scandal rolls on with stocks associated with the Rebar Group (力霸集團) trading lower. Members of the Rebar group such as Asia Pacific Broadband 亞太固網 are also being investigated along with companies that had investments such as Mega Bank 兆豐金 2882.TW, Taiwan Railroad 台鐵, and China Steel中鋼集團.


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