EQUITIES
<strong>Foreigners sell NT$17.04bn</strong>
Foreign investors last week sold a net NT$17.04 billion (US$569.63 million) of local shares after selling a net NT$1.9 billion a week earlier, the Taiwan Stock Exchange said yesterday. As of Friday, foreign investors had sold NT$972.02 billion of local shares since the beginning of the year, the exchange said in a statement. The top three shares sold by foreign investors last week were CTBC Financial Holding Co (中信金控), China Steel Corp (中鋼) and E.Sun Financial Holding Co (玉山金控), while the top three shares foreign investors bought were EVA Airways Corp (長榮航空), Chunghwa Telecom Co (中華電信) and Evergreen
EQUITIES
<strong>TAIEX sinks near 16,400</strong>
The TAIEX nearly dropped to 16,400 points after further overnight losses on US markets, dealers said. The bellwether electronics sector led the downturn on the main local board, with investors concerned that rising interest rates would make the stocks less attractive. Selling was also reported among old-economy stocks, despite a rebound by select shipping heavyweights, dealers said. The TAIEX closed down 114.85 points, or 0.7 percent, at 16,347.99. Turnover totaled NT$257.168 billion (US$9.14 billion), with foreign institutional investors selling a net NT$8.53 billion of shares on the main board. The TAIEX fell for a third consecutive session
Primax Electronics Ltd (致伸科技) is planning to build new manufacturing facilities and advanced laboratories in Hsinchu County’s Jhubei City (竹北) as it continues to develop audio, visual and interface solutions to maintain market leadership, the Ministry of Economic Affairs said on Friday as it approved a NT$2.5 billion (US$89.7 million) investment application by the audio and PC peripherals maker.
The company would launch intelligent production lines in the new plants to produce diversified products at smaller volumes, including advanced driver assistance system (ADAS) camera modules for electric vehicles, and Internet of Things solutions and application modules, the ministry said in a
Taiwan Business Quick Take
TAIEX up 0.37 percent
The TAIEX yesterday closed higher, but came off an earlier high as investors locked in profits ahead of stiff technical resistance at about 16,000 points. Large-cap semiconductor stocks saw more obvious profit-taking during the session, while buying continued to rotate to the old economy and financial sectors to give the broader market a boost, dealers said. The TAIEX closed up 58.58 points, or 0.37 percent, at 15,911.67, on turnover of NT$260.011 billion (US$9.18 billion). Despite the gains in the TAIEX, foreign institutional investors sold a net NT$3.82 billion of shares, Taiwan Stock Exchange data showed. SEMICONDUCTORS
TSMC posts February record