The Taiwan Stock Exchange (TWSE) is focusing on attracting a new crop of innovation and technology companies in an effort to build investor interest and diversify the nation’s equity market, an official said on Thursday.
Trading on the TWSE is dominated by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which accounts for one-third of the weighting in the benchmark TAIEX.
However, the creation of the Taiwan Innovation board, which groups companies in silos such as green energy, digital services, lifestyle and leisure industries, has helped investors better identify their areas of interest, TWSE chairman and CEO Sherman Lin (林修銘) said in an interview in New York.
Photo: Tu Chien-jung, Taipei Times
There is no plan to artificially limit TSMC’s dominance in the index. Rather, the idea is that the massive chipmaker would help attract smaller, newer companies to the exchange, making the index more balanced and diversified, Lin said.
However, this evolution would not happen overnight.
“Things cannot change suddenly,” Lin said.
Lin is meeting with institutional investors and asset managers in New York and Boston this week, urging portfolio managers to look beyond TSMC to its smaller and newer peers, which have the potential to grow as big as the chipmaking giant — the main supplier for Apple Inc and Nvidia Corp.
US foreign investors accounted for more than 40 percent of foreign capital in Taiwan’s stock market, making it the exchange’s largest source of foreign investment.
TWSE is also exploring the possibility of cross listing exchange-traded funds to track Japanese and Taiwanese securities in each other’s markets, Lin said.
The stock exchange operator has already launched similar products with South Korea’s stock exchange.
Huawei Technologies Co (華為) largely omitted mention of its controversial Mate 60 smartphone series at a grand showcase of its new consumer products yesterday. The Shenzhen-based company would increase smartphone production in response to demand, said consumer division chief Richard Yu (余承東), without naming the handset triggering that surge. The Mate 60 Pro earned international notoriety with its advanced made-in-China processor last month, causing concern in Washington about Huawei’s progress toward developing in-house chipmaking capabilities despite US trade curbs. Huawei’s new phones have fired up the company’s sales and were among the top sellers in China in the week before Apple Inc’s
SLUMP: The electronics, machinery and traditional industries posted the largest decline in the past year; overall, sectors showed gains over the previous month Taiwan’s industrial production index decreased 10.53 percent year-on-year to 91.38 last month, falling for a 15th consecutive month on an annual basis, as weak global economic growth continued to weigh on end-market demand and investment momentum, the Ministry of Economic Affairs said on Saturday. The industrial production index gauges output in Taiwan’s four main industries: manufacturing, electricity and gas supply, water supply, and mining and quarrying. Last month’s decline was the smallest contraction since March when the index dropped 16.03 percent from a year earlier. On a monthly basis, the index rose 7.28 percent, marking a second straight month of improvement,
US-based tech giant Google said yesterday that its efforts to build four underseas cables to connect Taiwan with the world had created more than 64,000 jobs and generated about US$26 billion in GDP for Taiwan as of 2021. The US company has transformed Taiwan into a strategic cloud infrastructure hub in the world. The four undersea cables are part of the company’s investments in cloud infrastructure in Taiwan, and on the back of the undersea cables, a data center and a Google Cloud Region, which is a geographic area in which Google provides infrastructure and services for deploying applications, Google said in
SHOPPING SPREE: The wholesale sector has lagged behind as consumer goods spending has risen, with food and beverage spending hitting almost NT$90 billion Sales in the retail, and food and beverage sectors last month continued to rise, increasing 4.3 percent and 14.3 percent respectively from a year earlier, while sales in the wholesale sector fell for a 10th straight month and declined 5 percent annually, the Ministry of Economic Affairs said on Saturday. The ministry forecast that retail, and food and beverage sales would retain growth momentum this month due to the opening of new shopping malls and the Mid-Autumn Festival. However, the wholesale sector is predicted to see sales drop for another month on an annual basis, as end-market demand remains weak and inventory
RSS