TAIWAN DAYBOOK: Chiang Pin-kung Leads Delegation to Tianjin

Chiang Pin-kung, chairman of Taiwan’s Straits Exchange Foundation, leads a delegation to Tianjin for the seventh round of cross-strait talks, which will start today and end on Oct. 21.

The two sides will sign a nuclear power safety agreement on Oct. 20 at 2:30 p.m., Chiang said. The foundation expects to sign an investment-protection agreement during the eighth round, according to a statement on its website yesterday.


WHAT TO WATCH:
* China Steel (2002 TT) announces domestic product prices for
December, anytime after noon
* Taiwan’s dollar weakens 0.3 percent to NT$30.201 against its
U.S. counterpart, according to Taipei Forex
* Yield on government 2 percent bonds due July 2016, the most-
traded securities, lost three basis points to 1.043 percent
* The benchmark Taiex falls 1.4 percent to 7,359.48, its biggest
drop since Oct. 3
* Overseas investors were net sellers of Taiwan’s stocks; net
sales of NT$2.7 billion ($90 million)

EARNINGS:
* Nanya Technology (2408 TT), 2:20 p.m.
* Inotera (3474 TT), 2:20 p.m.

EQUITY MOVERS:
* Apple Inc.-related stocks:  Apple’s quarterly profit missed
for the first time in at least six years as customers put off
purchases of iPhones before the release of the latest version.
Largan Precision (3008 TT) a supplier camera lens; Catcher
Technology (2474 TT), a casing maker of iPhones; Wintek (2384
TT), a component maker for Apple products, and Hon Hai Precision
Industry (2317 TT), which assembles iPhones, may be affected.
* E.Sun Financial’s (2884 TT) banking unit receives Financial
Supervisory Commission approval to set up a branch in Singapore
* Hon Hai (2317 TT) said parent Foxconn Technology Group’s
operations in Taiyuan are normal, denying a newspaper report
* HTC (2498 TT) agrees to buy Inquisitive Minds, the U.S.-based
maker of Zoodles kids’ Web browser, for $13 million
* Kinpo Electronics (2312 TT) and its unit sign a five-year loan
of NT$4 billion and $164 million from a group of 12 banks
* On-Bright Electronics (4947 TT) rated new “buy” at Jih Sun
Securities, with a target share price of NT$121
* Ruentex Development (9945 TT) reset the conversion price and
ratio on its convertible bonds due 2016
* UMC (2303 TT) buys NT$659 million of equipment from Applied
Materials and NT$553 million of equipment from Tokyo Electron


GOVERNMENT:
* National Communications Commission briefing, 9 a.m.

EVENTS:
* 2011 Taiwan Business Alliance Conference

BTV HIGHLIGHTS (All Hong Kong time):
8:40 BDA China Chairman Duncan Clark
10:10 Pictet & Cie Group, MD/CIO Yves Bonzon
11:20 HSBC Global Head of Equity Strategy Garry Evans
11:50 Sanofi CEO Christopher Viehbacher

To contact the editor responsible for this story: Joshua Fellman at jfellman@bloomberg.net

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