The TAIEX yesterday fell by more than 400 points after US markets posted heavy losses at the end of last week amid increasing concern over the US Federal Reserve’s rate hike cycle, dealers said.
Led by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the bellwether electronics sector experienced sell-offs during the day, as rising interest rates have made tech stocks at home and abroad less attractive, the dealers said, adding that old economy stocks, especially the transportation sector, also came under selling pressure.
The TAIEX closed down 404.19 points, or 2.37 percent, at 16,620.90. Turnover totaled NT$301.695 billion (US$10.27 billion), with
Taiwan-based Shanghai Commercial and Savings Bank (SCSB, 上海商業儲蓄銀行) on Saturday said its board of directors had approved a proposal to pay a cash dividend of NT$1.8 per share.
The board also voted to sell NT$3 billion (US$104.85 million) of subordinated debentures this year to increase SCSB’s working capital, the bank said in a Taiwan Stock Exchange (TWSE) filing.
SCSB is to have its annual general meeting on June 17, at which it would seek shareholders’ approval for the two proposals, it said.
The bank reported earnings per share of NT$3.19 for last year, up from NT$3.01 the previous year. The proposed dividend represents
The National Stabilization Fund yesterday urged calm after the TAIEX tumbled 1.38 percent, or 252.2 points, to 17,969.29, in line with global bourses after Russian President Vladimir Putin ordered troops into separatist-held regions in eastern Ukraine in what he called a “peacekeeping” mission.
The order came just hours after Putin signed decrees recognizing the independence of the Moscow-backed regions in a move that might escalate into outright military conflict with Ukraine as well as its backers, including the US and several European countries.
The TAIEX slumped below the psychologically critical 18,000-point mark after foreign institutional investors slashed holdings by NT$38.66 billion (US$1.39
The TAIEX closed lower yesterday, as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure, falling more than 3 percent because investors pocketed gains built up in recent trading sessions, dealers said.
The financial sector outperformed the broader market, rising more than 0.5 percent on expectations that the US Federal Reserve would raise interest rates later this year, which would boost returns on financial institutions’ overseas investments, they said.
The TAIEX closed down 146.8 points, or 0.79 percent, at the day’s low of 18,378.64. Turnover totaled NT$261.862 billion (US$9.48 billion), with foreign institutional investors selling a net NT$6.86 billion of
EQUITIES
<strong>TSMC boosts TAIEX</strong>
The TAIEX yesterday reversed earlier losses and closed slightly higher as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) gained and stabilized the broader market, dealers said. The TAIEX ended the day up 48.83 points, or 0.27 percent, at 18,288.21. Turnover totaled NT$302.773 billion (US$10.94 billion), with foreign institutional investors buying a net NT$2.23 billion of shares on the main board, Taiwan Stock Exchange data showed. TSMC rose 1.24 percent to close at NT$651. Its gains contributed more than 65 points to the TAIEX, and boosted the electronics index by 0.08 percent and the semiconductor subindex by 0.42