TAIEX stable amid Wang case
The TAIEX moved within a narrow range before closing slightly higher yesterday amid uncertainty over how an alleged influence peddling case involving Legislative Speaker Wang Jin-pyng (王金平) will evolve, dealers said. Despite the narrow trading range, buying in Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the most heavily weighted stock in the local market, helped stabilize the broader market. Investors expect that the contract chipmaker will report strong sales for last month, dealers said.
Taipei ranked No. 30
Taipei rose six spots to 30th place in a ranking of financial centers around the globe this year, according to the Xinhua-Dow Jones International Financial Centers Development Index, published yesterday. The index was launched by Xinhua news agency and the Chicago Mercantile Exchange Group in 2010 and evaluates cities worldwide on five indicators: financial market, growth and development, industrial support, services and general environment. Taipei improved to 30th among the 45 cities evaluated in this year’s ranking, thanks to gains in three areas. It leaped from 33rd to 26th in industrial support, which refers principally to basic city conditions and city infrastructure. It also jumped from 36th to 26th in services. It rose from 33rd to 29th in terms of general environment, referring to economic and political environments and openness.