Taiwan High Speed Rail Corp (THSRC, 台灣高鐵) has been added to the Taiwan 50 Index after a quarterly index review, the Taiwan Stock Exchange (TWSE) said.
The Taiwan 50 Index, which is jointly compiled and managed by the TWSE and global index provider FTSE International Ltd, is comprised of the top 50 stocks in the local equity market in terms of market capitalization.
The TWSE said that THSRC has ranked among the top 40 stocks in market cap in the local bourse, so FTSE decided to include the stock in the index.
The index adjustments are to take effect on June 19.
THSRC shares, which launched a listing on the main board on Oct. 27 last year, closed at NT$26.3 on Saturday, down 0.57 percent from the previous session.
The stock has gained 42.93 percent since the beginning of this year, its uptrend appearing more visible after MSCI Inc announced last month that it would add the stock to its Global Standard Indexes.
Due to the significant gains, THSRC’s market cap has increased to NT$148.02 billion (US$4.91 billion) from NT$84.45 billion seen on its listing day in October last year.
THSRC reported earnings per share of NT$0.29 for the first quarter, compared with NT$0.2 over the same period last year, according to the company’s TWSE filings.
Cumulative revenue during the first four months of the year rose 7.9 percent year-on-year to NT$14.44 billion, thanks to the company’s intensive promotion campaigns.
FTSE has also decided to remove Eclat Textile Co (儒鴻) from the Taiwan 50 Index and has put the firm on the waiting list, the TWSE said.
FTSE has also placed financial leasing firm Chailease Holding Co (中租), window curtain supplier Nien Made Enterprise Co (億豐), contract notebook computer maker Inventec Corp (英業達) and Yulon Nissan Motor Co (裕隆日產) on the waiting list.
Instead, FTSE has decided to add Eclat, Yulon Nissan, memory chipmaker Macronix International Co (旺宏), speaker maker Merry Electronics Co (美律) and smartphone camera lens producer Genius Electronic Optical Co (玉晶光) to the FTSE TWSE Taiwan Mid-Cap 100 Index because of their higher market capitalization, the TWSE said.
The Taiwan Mid-Cap 100 Index is comprised of the next-biggest 100 companies outside the Taiwan 50 Index in terms of market cap.
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