After a robust increase in the TAIEX last year, market sentiment has become upbeat, likely causing a so-called “January effect” and sending the main board further upward, dealers said over the weekend.
The January effect refers to a seasonal rise in the market after foreign institutional investors return to the trading floor following the New Year holiday.
The TAIEX could possibly rise 1,500 to 2,000 points and hit 20,000 this year, Mega International Investment Services Corp (兆豐國際投顧) manager Alex Huang (黃國偉) said.
While economic growth and increases in corporate profits are expected to be moderate this year due to last year’s relatively
Equity investors are advised to choose stocks that are poised to benefit from growth potential in the medium to long term, such as those related to high-performance computing, artificial intelligence and electric vehicle sectors, as market corrections continue to weigh on the local bourse, Allianz Global Investors Taiwan Ltd (安聯投信) said on Friday.
“The main bourse has shown mixed performances since the end of September, with financial and electronic stocks outperforming the broader market, while shipping, chip packaging and testing, optical, steel, printed circuit board and passive component sectors have underperformed the market on the back of worries about softening demand
HSBC is close to finding a successor to Peter Wong with two internal candidates in the frame to step up, according to sources.
The 69-year old is set to retire as CEO of HSBC in Asia and the bank is understood to have kicked off an informal search process earlier this year. Wong, who was instrumental in restoring HSBC’s standing in China after it faced censure for its role in a probe of Huawei Technologies by the US, has extended his tenure before and may yet stay on.
But sources within the bank say there is growing talk of a possible solution in time for the bank’s Annual General Meeting on May 28