Jan

17

Morning Tea for Wed, Jan 17

January 17, 2007 |

The Taiwan weighted index varied between 7,780.65 and 7,831.20 on Tuesday. After opening slightly higher at 7,792.77, the market moved to 7831.20 by the mid morning. The rally did not last, and the market gave up most of the gain by noon. The market finally closed up 8.58 at 7,792.08.

Most Asian markets were higher on Tuesday, with Shanghai and Jakarta rising 0.94% and 1.34% respectivetly. The Nikkei was flat on speculation that the Bank of Japan could raise the overnight call rate target to 0.5 percent from 0.25.

The Rebar Group (力霸集團) scandal once again dominated the news. A a report from the cabinet that Wang You-Theng (王又曾) and his wife Wang Chin Shyh-Ying (王金世英) have fled to the US. The couple got on an airplane bound for San Francisco from Shanghai last Saturday.


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