Accumulated revenue of all the companies listed on the Taiwan Stock Exchange grew 16.5 percent year-on-year to NT$34.6 trillion (US$1.24 trillion) in the first 11 months of this year, with the shipping, steel and plastic sectors leading the increases, exchange data showed.
Revenue of the shipping sector advanced 83 percent year-on-year to NT$1.33 trillion in the first 11 months, the steepest growth among all sectors, as many of the 23 listed shippers or forwarders benefited from rising freight rates and strong demand, the exchange said.
Evergreen Marine Corp (長榮海運), the nation’s largest container shipper in terms of fleet size, posted 139 percent year-on-year growth in revenue to NT$437 billion in the first 11 months, Yang Ming Marine Transport Corp (陽明海運), the second largest, reported a 121 percent increase to NT$299 billion, while Wan Hai Lines Ltd’s (萬海航運) revenue increased 190 percent to NT$204.7 billion, corporate data showed.
Photo: Cheng I-hwa, Bloomberg
DEMAND FOR STEEL
Cumulative revenue of the steel sector expanded 50 percent year-on-year to NT$955 billion for the first 11 months, as companies such as China Steel Corp (中鋼) benefited from higher prices and robust demand from the construction market, the exchange said.
Over the same period, revenue of the plastic sector grew 49.9 percent to NT$1.25 trillion, thanks to strong demand for chemical products and rising prices of raw materials, it said.
FEWER TOURISTS
On the contrary, revenue of the tourism sector fell 11.8 percent year-on-year to NT$56.8 billion in the first 11 months, after 14 of the 18 listed tourism companies reported falling revenue due to COVID-19 restrictions, the exchange said.
Lion Travel Service Co (雄獅旅行社) posted a 75 percent decline in revenue to NT$1.53 billion, while Phoenix Tours International Inc (鳳凰旅行社) reported a 71.5 percent fall to NT$136 million.
INSURANCE WOES
Revenue of the financial services and insurance sector dipped 2.3 percent to NT$2.65 trillion, mainly attributable to falling net earnings at insurance companies, the exchange said.
Of the 959 companies listed on the Taiwan Stock Exchange, 759 posted higher revenue year-on-year in the first 11 months of the year, while 200 posted a decrease, it said.
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