Taiwan 50 Index drops Acer
Shares of PC vendor Acer Inc (宏碁) will be removed from the Taiwan 50 Index after a quarterly index review by the Taiwan Stock Exchange (TWSE) and FTSE Group, the exchange said on Wednesday. TWSE said that as Acer’s market capitalization was ranked 61st among the more-than 800 listed companies on the main board, the exchange and FTSE have decided to remove the stock from the Taiwan 50 Index, in which the constituents are among the top 50 in terms of market capitalization. However, it said Acer will be included in the Taiwan Mid-Cap 100 Index, whose constituents are smaller in market capitalization. The changes will take effect on Sept. 23. “The Taiwan 50 Index serves as one of the most important investment references to institutional investors. The removal is expected to cut Acer’s weighting in many fund managers’ portfolios,” Hua Nan Securities (華南永昌證券) analyst Stan Chang said yesterday.
Gou to speak at CEO summit
Hon Hai Precision Industry Co (鴻海) chairman Terry Gou (郭台銘) has been invited to speak at the APEC CEO summit next month about his company’s business strategy in the Asia-Pacific market. Summit sources said Gou was asked in the hope that he will share Hon Hai’s investment experience. Hon Hai has confirmed that Gou is expected to attend the summit, which will be held in Bali in early next month.