Sales posted by companies listed on the Taiwan Stock Exchange (TWSE) for last month fell slightly from a year earlier, with analysts attributing the decline largely to the reduced number of working days due to the nine-day Lunar New Year holiday.
TWSE data showed that revenue generated by listed firms totaled about NT$2.01 trillion (US$65.05 billion), down 0.77 percent, or NT$15.6 billion, from a year earlier.
The data showed that 509 firms reported year-on-year sales declines, while 421 firms reported increases.
Revenue posted by listed local firms was NT$1.96 trillion, down 1.08 percent from a year earlier, while sales generated by foreign incorporated firms increased 13.18 percent to NT$49.8 billion, the data showed.
Among major firms listed on the local main board, contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) posted consolidated sales of NT$60.89 billion, down 5.8 percent from the same period last year, while Largan Precision Co (大立光), a supplier of smartphone camera lenses to Apple Inc, reported consolidated sales rose 14.14 percent year-on-year, ending four months of falls, at NT$2.532 billion.
The TWSE said the information service sector posted the highest year-on-year increase of 25.71 percent in sales, ahead of the financial/insurance sector (up 19.77 percent), while the glass and ceramic industry saw the steepest decline of 16.13 percent, followed by the auto industry (down 11.97 percent).
In the first two months of the year, TWSE-listed firms posted NT$4.77 trillion in sales, down 0.12 percent or NT$5.5 billion from a year earlier, the data showed.
NOT ALL GOOD: Analysts warned that other data for last month might be less rosy due to the virus and analysts expect the PMI to contract again next month Chinese factory activity saw surprise growth last month as businesses went back to work following a lengthy shutdown, but analysts said that the economy faces a challenging recovery as external demand has been devastated by the COVID-19 pandemic, while the World Bank said that growth could screech to a halt. China is slowly returning to life after months of tough restrictions aimed at containing the virus, which put millions of people into virtual house arrest and brought economic activity to a near standstill. The strict measures saw a closely watched gauge of manufacturing plunge to its lowest level on record in February,
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