Taiwan Business Quick Take

Staff writer, with CNA

Mon, Sep 09, 2019 - Page 15

REAL ESTATE

Housing transactions decline

The property market in northern Taiwan remained sluggish last month, as an index gauging the market climate fell from a month earlier. Citing a survey, Chinese-language Housing Monthly said the housing index for northern Taiwan fell 4.2 points last month, following a 5.1 percent increase in July, as housing transactions fell during Ghost Month, the seventh month of the lunar calendar. Meanwhile, the value of presale housing projects that came on the market totaled NT$50 billion (US$1.6 billion) last month, down from NT$70 billion in July, the magazine said.

FOREIGN EXCHANGE

Reserves reach new high

Foreign-exchange reserves hit a new high last month, largely on the back of an increase in returns on the central bank’s investment portfolio, the bank said on Friday. Data compiled by the central bank showed that the country’s forex reserves stood at US$468.17 billion, up US$939 million from a month earlier. The increase in its investment returns offset the effects of volatility in the equity market, the bank said. It was the third consecutive month in which Taiwan’s forex reserves reached a new high, the data showed.

ELECTRONICS

Hon Hai posts record sales

Hon Hai Precision Industry Co (鴻海) saw its sales hit the highest-ever level for August in the company’s history, with analysts attributing it to it being the peak season. The company posted NT$398.82 billion in consolidated sales, up 0.2 percent from a month earlier and also up 0.51 percent from a year earlier, Hon Hai said on Thursday. In the first eight months of this year, Hon Hai’s consolidated sales stood at NT$3.01 trillion, up 3.89 percent from a year earlier. The eight-month sales figure also hit a record high.