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Stock market to encourage higher-paying firms

TAIPEI, Taiwan -- The Taiwan Stock Exchange Corporation (TWSE) is poised to release later this year a “high-salary index” comprising 100 firms that pay higher salaries in an effort to encourage and attract investment for firms that redistribute earned profits to their employees.

In a legislative session held yesterday, the Finance Committee initiated a review into TWSE and provided its opinions on foreign capital inflows and the securities gains tax. Financial Supervisory Commission (FSC) Chairman Tseng Ming-chung (曾銘宗) was invited to the session.

The TWSE is scheduled to release a “high-salary index” in August, incorporating 100 companies that grant raises to employees or redistribute earned profits to employees in other forms. The aim is to encourage their visibility and attract investment from institutional investors.

Some suggest that TWSE also publicize firms that fail to grant raises or that offer relatively low wages. In response, Tseng said that he does not oppose the idea.

Local Stock Market Over-performed

Tseng pointed out that as of May 5, average daily trading volumes on the stock market jumped 23.3 percent compared with a year ago. The average index also grew 3.71 percent, higher than those of international stock markets, including Japan, Hong Kong and South Korea. There has also been a net inflow of foreign capital for eight consecutive months, boosting Tseng's confidence in the stock market.

Trading volume and price on Japan's stock market went down 11 percent and 13 percent, respectively. They dropped 3.54 percent and 6 percent in Hong Kong. They dropped 11.55 percent and 3 percent in South Korea, and dipped 9 percent and 4.7 percent on Shanghai's market.

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