TWSE-listed firms’ sales down slightly in February

(TSMC), the most heavily weighted local stock, posted consolidated sales of NT$60.89 billion in February, down 5.8 percent from the same period in …

Taipei, March 13 (CNA) Sales posted by companies listed on the Taiwan Stock Exchange (TWSE) in February fell slightly from a year earlier with market analysts attributing the decline largely to the reduced number of working days due to the nine-day Lunar New Year holiday.

Data compiled by the TWSE, which runs the local main board, shows that revenue generated by listed companies totaled about NT$2.01 trillion (US$65.05 billion), down 0.77 percent or NT$15.6 billion from a year earlier.

According to the data, 509 firms reported a year-on-year decline in sales for February, while 421 firms reported an increase in the month.

Revenue posted by Taiwan-based firms hit NT$1.96 trillion in February, down 1.08 percent from a year earlier, while sales generated by foreign incorporated firms that launched primary listings in Taiwan enjoyed a 13.18 percent year-on-year increase in sales which totaled NT$49.8 billion, the data showed.

Among the largest companies listed on the local main board in terms of market capitalization, contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted local stock, posted consolidated sales of NT$60.89 billion in February, down 5.8 percent from the same period in 2018.

TSMC’s February sales also fell 22 percent from a month earlier, mainly due to a production disruption at its Fab 14B, a 12-inch wafer foundry in Tainan.

Meanwhile, Largan Precision Co., a supplier of smartphone camera lenses to Apple Inc., reported its February consolidated sales rose 14.14 percent year-on-year, ending a four month falling streak, at NT$2.532 billion.

However, Largan’s February figure still fell about 24 percent from the previous month on weakening demand for the latest iPhones in the global market.

The TWSE said the information service sector posted the highest year-on-year increase of 25.71 percent in sales in February, ahead of the financial/insurance sector (up 19.77 percent).

The glass and ceramic industry suffered the steepest decline of 16.13 percent in sales in February, followed by the auto industry (down 11.97 percent), the TWSE said.

In the first two months of this 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.

(By Frances Huang)

Enditem/AW

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Gemini Investments (0174) Jumps 2.22% on Mar 7

Shares of Gemini Investments (HKG:Holdings Limited) last traded at 0.92, representing a move of 2.22%, or 0.02 per share, on volume of 6,000 shares …

Shares of Gemini Investments (HKG:Holdings Limited) last traded at 0.92, representing a move of 2.22%, or 0.02 per share, on volume of 6,000 shares. After opening the trading day at 0.92, shares of Gemini Investments traded in a close range. Gemini Investments currently has a total float of 451.39M shares and on average sees 25,000 shares exchange hands each day. The stock now has a 52-week low of 0.75 and high of 1.26.

SEHK: A Global Economy Giant

Hong Kong has one of the most successful economies in Asia, making it a powerful asset to the growth of the region. Consequently, Hong Kong is also an economic powerhouse in the world.

The Stock Exchange of Hong Kong (SEHK) is the third biggest stock exchange in Asia and the sixth biggest worldwide. It is a great opportunity for such companies as Gemini Investments to find their client base there. That being said, it is significant in the fast-paced growth of Hong Kong’s economy.

History of the SEHK

The SEHK was formally founded in 1891 following the establishment of the Association of Stockbrokers in Hong Kong. Today, it is the third biggest stock exchange in Asia next to the Tokyo Stock Exchange (TSE) and the Shanghai Stock Exchange (SSE), respectively.

Pre-market session on the SEHK starts at 9:00 a.m. and ends at 9:30 a.m. Regular morning session begins at 9:30 a.m. and ends at 12:00 n.n. It is extended from 12:00 n.n. until 1:00 p.m. before the regular afternoon session begins at 1:00 p.m. and ends at 4:00 p.m.

The Hang Seng Index (HSI) is the benchmark index that weighs the top 50 stocks on the SEHK based on free-float market capitalization. This represents roughly 60% of the total market capitalization on the SEHK in four sectors: Energy, Financials, Materials, and Utility. These four sectors have been officially established in January 2, 1985.

The Hang Seng Indexes Company, a subsidiary of the Hang Seng Bank (HSB), operates the HSI. Rebalancing of the HSI happens every quarter. Its base date is July 31, 1964 and its base value is 100.

In order to be considered for the inclusion in the HSI, a company must belong to the top 90% of overall market capitalization of market shares and to the top 90% of overall turnover on the SEHK. It is also required that a company must have been listed for at least 24 months on the SEHK. However, a company can already be considered for inclusion after being listed for only three months depending on its market capitalization, liquidity, and overall performance and representation. Perfect liquidity of Gemini Investments was the main condition of its acceptance.

By the Numbers

The HSI holds an all-time high of 31,638.22, which had been recorded on October 30, 2007; and an all-time low of 58.61, which had been recorded on August 31, 1967. It had first hit the 10,000 mark on December 10, 1993; and the 20,000 mark on December 28, 2006. On October 18, 2007, the HSI had first hit the 30,000 mark.

Eventually, as the 2008 Global Financial Crisis unfold, it had lost about 30% through March 9, 2008. Nearly a year after hitting its all-time high, the HSI had fallen to 15,431.73 on October 8, 2008.

According to CG Watch, a biannual newsletter that ranks Asian economies according to excellence in corporate governance, Hong Kong is one of Asia’s pride. This year, Hong Kong has scored 65 points, ranking second next to Singapore in the coveted list. This is mainly why more and more investors are flocking the SEHK as they anticipate to benefit from the growing national economy. Some investors are very interested in the companies like Gemini Investments.

Gemini Investments Limited, an investment holding company, engages in securities investment, fund investment, fund platform investment, and property investment and development businesses. The company has market cap of $415.28 million. The firm is involved in securities investment and trading activities. It currently has negative earnings. It invests in investment funds and real estate fund platform; leases office properties and residential condominium; provides management and administration services for property development project; and offers fund management services.

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Taiwan shares end down on US market losses

Selling on the local main board continued as large-cap stocks such as TSMC and iPhone assembler Hon Hai Precision Industry Co. moved below …

Taipei, March 5 (CNA) Shares in Taiwan closed lower Tuesday as local investors were motivated by losses suffered by the U.S. market overnight to cut their holdings, but the main board still managed to end above 10,300 points, dealers said.

The bellwether electronics sector, led by contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), pushed down the broader market ahead of the release of sales data for February by these large- cap stocks, the dealers said.

The weighted index on the Taiwan Stock Exchange (TWSE), or Taiex, ended down 44.62 points, or 0.43 percent, at 10,305.26, after moving between 10,295.44 and 10,344.34 on turnover of NT$104.17 billion (US$3.38 billion).

The market opened down 26 percent in a knee-jerk reaction to the U.S. markets, where the Dow Jones Industrial Average fell 0.79 percent and the tech-savvy Nasdaq index lost 0.23 percent overnight, the dealers said.

Selling on the local main board continued as large-cap stocks such as TSMC and iPhone assembler Hon Hai Precision Industry Co. moved below their previous closing levels amid concern over further losses on the U.S. markets, they said.

“The global financial markets have staged a strong rebound in recent sessions as optimism toward a possible agreement between Washington and Beijing to resolve their trade dispute has been factored in,” Taishin Securities Investment Advisory analyst Tony Huang said.

“Now it seems that investors in the U.S. markets started to pocket their earlier gains, which has made local investors nervous amid fears over further losses down the road,” Huang said.

The market has widely anticipated that the U.S. and China are likely to hold a summit by the end of March to sign an agreement, as the two sides are in the final stages of trade negotiations.

If the agreement is signed, Washington could roll back tariffs on at least US$200 billion-worth of Chinese goods, while Beijing could remove or cut industry-specific levies like those on U.S. autos. “It was not surprising that the local main board fell into consolidation mode and the nearest technical support level stood at around 10,300 points,” Huang said. The Taiex came off its earlier low after falling below 10,300 points at one point.

Selling focused on tech heavyweights, with TSMC, the most heavily weighted stock in the local market, down 1.06 percent, closing at NT$233.00. TSMC’s losses led the bellwether electronics index to move 0.64 percent lower and the semiconductor sub-index to fall by 1.02 percent.

Also in the tech sector, Hon Hai lost 0.42 percent to close at NT$71.90, while Largan Precision Co., a supplier of smartphone camera lenses to Apple Inc., bucked the downturn to close up 0.11 percent at NT$4,370.00 after an Asian brokerage upgraded its share price on the stock to more than NT$5,600.

The old economy sector generally came under pressure throughout the session, with Nan Ya Plastics Corp. down 0.53 percent to close at NT$75.20 and Taiwan Cement Corp. losing 0.52 percent to end at NT$38.00.

In the financial sector, which closed down 0.24 percent, Cathay Financial Holding Co. lost 0.67 percent to close at NT$44.60 and CTBC Financial Holding Co. dropped 0.48 percent to end at NT$20.65.

“By March 10, listed companies on the main board will announce their January sales reports, so before the release, many investors preferred to remain cautious,” Huang said.

According to the TWSE, foreign institutional investors sold a net NT$7.03 billion-worth of shares on the main board Tuesday.

(By Frances Huang)

Enditem/J

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Indian equity benchmarks ended lower for the third consecutive trading session. The S&P BSE Sensex ended 0.11 percent lower at 35,867.44 and the …

Stocks in Asia notched up gains early Friday, with Japanese shares helped by overnight weakness in the yen.

Japanese equities posted the bulk of gains ahead of the open in Hong Kong and China, where focus will be on MSCI Inc.’s announcement that it will boost the weight of domestic so-called A shares in its global benchmarks.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.1 percent to 10,874 as of 7:30 a.m.

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