Breaking News, World News and Taiwan News.

Out with Yulon Motor, in with Advantech on Taiwan 50 Index

TAIPEI, Taiwan -- Leading local automaker Yulon Motor Co. has been removed from the FTSE TWSE Taiwan 50 Index, making way for industrial computer maker Advantech Co. on the index after a quarterly review by the Taiwan Stock Exchange (TWSE) and FTSE Group.

The TWSE said the inclusion of Advantech reflected an increase in the stock's market capitalization, ranking among the top 40 on the local bourse, while Yulon Motor's market cap has fallen out of the top 50.

Market analysts said the change in market cap resulted from fluctuations in the two stocks' share prices in recent sessions ahead of the quarterly index review.

Shares of Advantech rose 11.9 percent since the beginning of April to close at NT$221.00 Friday, while shares of Yulon Motor fell almost 4 percent over the same period to end at NT$48.30, according to the TWSE.

The TWSE launched the Taiwan 50 Index in October 2002 alongside FTSE, a global index provider.

The index, which has been followed closely by institutional investors to map out investment strategies, includes the top 50 local stocks in terms of market capitalization, such as heavyweights Taiwan Semiconductor Manufacturing Co. and United Microelectronics Corp.

The TWSE has listed the following five stocks on a waiting list for the index: contract laptop maker Inventec Corp., integrated circuit designer Novatek Microelectronics Corp., bicycle maker Giant Manufacturing Co., Shin Kong Financial Holding Co. and machine tool supplier Hiwin Technologies Co.

Despite being dropped from the top 50 index, Yulon Motor has been added to the FTSE TWSE Taiwan Mid-Cap 100 Index.

In addition to Yulon Motor, the TWSE has included computer maker Micro-Star International Co., biaxial oriented polyamide film supplier Green Seal Holding Ltd., and computer component producer Yageo Corp. into the Taiwan Mid-Cap 100 Index.

Meanwhile, the TWSE added Micro-Star to the FTSE TWSE Taiwan Technology Index while removing consumer electronics distributor Senao International Co.

Index adjustments are scheduled to take effect on June 23, the TWSE said.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search