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Taiwan shares end higher on U.S. rally
03/12/2021 07:38 PM
CNA file photo
Taipei, March 12 (CNA) Shares in Taiwan extended their momentum from a session earlier to close above the 16,200-point mark Friday following a rally on American markets, dealers said.
The gains were capped by the end of the session, however, as some investors decided to pocket their gains, especially in large cap tech stocks amid lingering concerns over U.S. Treasury yields, they said.
The Taiex, the Taiwan Stock Exchange s main weighted index, ended up 75.62 points, or 0.47 percent, at 16,255.18, after moving between 16,166.35 and 16,298.03. Turnover was NT$297.96 billion (US$10.59 billion).
Taiwan Business Quick Take
Sercomm sales hit NT$3bn
Telecom equipment maker Sercomm Corp (中磊) yesterday reported revenue of NT$3.31 billion (US$116.43 million) for last month, down 8.62 percent month-on-month and 0.57 percent year-on-year. However, revenue last quarter increased 11 percent year-on-year and 12 percent quarter-on-quarter to NT$10.58 billion, setting a company record, Sercomm said. For the whole of last year, revenue was NT$36.1 billion, up 13.54 percent from NT$31.8 billion in 2019, it said, attributing the increase to the remote-working and distance-learning trends amid the COVID-19 pandemic, as market demand for faster data transmission and larger bandwidth increases.
RESTAURANTS
Hi-Lai sees record revenue
Restaurant operator Hi-Lai Foods Co Ltd (漢來美食) yesterday reported that revenue last month saw record growth for a sixth consecutive month, reaching NT$357 million. Up 3 percent annually, the month lifted last quarter’s sales 6 percent from a ye