The TAIEX rose yesterday as about six stocks gained for every five that fell. The NT dollar slid 0.5 percent to NT$33.299 against the US currency, its biggest slide in more than four months. The TAIEX rose 0.35 point to 6,665.89. TAIEX Futures for February delivery added 0.1 percent to 6,703.
Taishin Financial Holdings Co (台新金控) gained after its Taishin International Bank (台新銀行) unit said it plans to sell about NT$4.5 billion (US$136 million) of bonds backed by mortgage loans to local investors. Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電) led declines amid concern that some overseas investors are selling Taiwanese assets due to a decline by the local currency against the dollar.
Taishin Financial rose 0.3 percent to NT$29.20. It said after the market closed on Friday that the sale by its banking unit would enable it to better manage its balance sheet.
TSMC, which is about 54-percent-owned by foreign investors, fell 1.6 percent to NT$62.50. AU Optronics Corp (
Companies with high a level of foreign holdings, like TSMC, faced selling as some investors unloaded Taiwanese assets due to the decline of the local currency, said Tracy Chen, a fund manager at Prudential Securities Investment (
China Development Financial Holding Corp (中華開發金控), the nation's sixth biggest financial holding company, ended unchanged at NT$18.40, after rising as much as 3.3 percent, despite news reports that chairwoman Diana Chen (陳敏薰) may lose her position after the Ministry of Finance re-allocated board seats according to shareholdings.
RSS