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June 24, 2017

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At least 54 listed firms post record sales: CMoney

At least 54 of Taiwan's publicly traded companies have posted record sales in May, said CMoney, a market research firm, yesterday.

The figure was higher than the 26 for April. For each of the first five months, the numbers of firms making record sales were: 30 for January, 20 for February, 81 for March, 26 for April and 54 for May.

Also, nine firms posted record sales consecutively from March to May. They included LuxNet Corp., Pegatron and Capella Microsystems. Most of these companies have small to medium weighting on the Taiwan Stock Exchange.

As for the 54 firms making record sales in May, some of them are large-cap shares. For example, two of the 54 had single-month sales of over NT$10 billion, namely Pegatron and Taiwan Semiconductor Manufacturing Co.

Eight of them had single-month sales of over NT$1 billion, including Simplo, Family Mart and Wei Chuan.

According to Chen Huang-jen, fund manager with Capital Securities, high-tech firms posted higher than expected sales back in May due largely to a depreciation of the New Taiwan dollar. Strong performances were especially seen in the semiconductor, notebook, LED and Apple-related sectors.

The New Taiwan dollar yesterday closed at NT$29.92, strengthening NT$0.056 from the previous session.

Last week, the local currency devalued 0.15 percent and had weakened past NT$30 at one point. Many experts are predicting the New Taiwan dollar may again weaken past NT$30 this week as part of the central bank's attempt to keep the currency competitive.

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