<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 10, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Taiwan tourism shares at 7-month high
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</TD><TD>Feedback</TD></TR></TBODY></TABLE>(TAIPEI) Taiwan's tourism stocks surged to a seven-month high after the island's government said that it plans to spend NT$30 billion (S$1.34 billion) to boost visitor arrivals over the next four years.
The six-member tourism index rose 5.4 per cent to 126.37 at the close, the highest since Sept 1. Formosa International Hotels Corp, Taiwan's largest hotel operator, soared by its daily limit to NT$413, the biggest one-day gain since Oct 30, while Leofoo Development Corp, the island's largest theme park operator, advanced 5.2 per cent to NT$19.20.
The cabinet expects to generate NT$550 billion of tourism revenue by 2012 through the latest investment, create 400,000 jobs and attract NT$200 billion of private spending for the industry, the Government Information Office said in a statement yesterday.
'The Chinese are coming to Taiwan, following its leader's call to head to Taiwan,' said Wanchen Chang, an analyst at Masterlink Securities.
China Airlines Ltd, Taiwan's largest carrier, rose 3.1 per cent to NT$9.68, the highest since Sept 10.
The Taiwan government is seeking to develop key industries including tourism, medical services and green energy to offset the island's first recession since 2001. -- Bloomberg
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Taiwan tourism shares at 7-month high
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</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>(TAIPEI) Taiwan's tourism stocks surged to a seven-month high after the island's government said that it plans to spend NT$30 billion (S$1.34 billion) to boost visitor arrivals over the next four years.The six-member tourism index rose 5.4 per cent to 126.37 at the close, the highest since Sept 1. Formosa International Hotels Corp, Taiwan's largest hotel operator, soared by its daily limit to NT$413, the biggest one-day gain since Oct 30, while Leofoo Development Corp, the island's largest theme park operator, advanced 5.2 per cent to NT$19.20.
The cabinet expects to generate NT$550 billion of tourism revenue by 2012 through the latest investment, create 400,000 jobs and attract NT$200 billion of private spending for the industry, the Government Information Office said in a statement yesterday.
'The Chinese are coming to Taiwan, following its leader's call to head to Taiwan,' said Wanchen Chang, an analyst at Masterlink Securities.
China Airlines Ltd, Taiwan's largest carrier, rose 3.1 per cent to NT$9.68, the highest since Sept 10.
The Taiwan government is seeking to develop key industries including tourism, medical services and green energy to offset the island's first recession since 2001. -- Bloomberg
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