Jan

18

Morning Tea for Thur, Jan 18

January 18, 2007 |

Asian markets finished higher after a rough start. Most Asian markets were down at the open after Intel’s slide after the close of the US markets. Intel reported earnings that beat the street by a penny, but still fell on warnings that margins would be under pressure going forward.

The Taiwan weighted index opened 34 points down. The market rallied steadily and the Taiwan weighted index closed up half a percent at 7833.98, just 7.28 points off the high for the day.

The Rebar Group (力霸集團) scandal rolls on. Wang You-Theng (王又曾) borrowed 3,700萬 NTD ( US $1.1 Million ) from Idee 衣蝶 department stores before fleeing the country. The unnervingly close relationship between Asia Pacific Broadband Telecom Co (亞太固網) , which is part of the Rebar Group (力霸集團) , and the countries legislators, political parties and state controlled enterprises is coming to light. Several legislators and legislative aides had invested in bonds issued by the company.


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