Cathay Financial Holding Co., Ltd. (2882A) Is Yet to See Trading Action on Nov 9

November 9, 2017 - By Clifton Ray

Shares of Cathay Financial Holding Co., Ltd. (TPE:2882A) closed at 62 yesterday. Cathay Financial Holding Co., Ltd. currently has a total float of 833.30 million shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 60.4 and high of 63.1.

Taiwan Capitalization Weighted Stock Index (TAIEX) Driving Taiwan Economy

Taiwan Capitalization Weighted Stock Index (TAIEX), Taiwan Weighted Index for short, is the stock index for all the companies listed on Taiwan Stock Exchange (TWSE). The index was published in 1967 for the first time, though its base value of 100 points was set a year earlier. Cathay Financial Holding Co., Ltd. quickly jumped inside it. TAIEX is a benchmark for Taiwanese stocks.

TAIEX rose to a lifetime high of 10202.20 points in 2000 as Taiwanese stocks showed steady recovery from a devastating earthquake that struck the country a year earlier. However, TAIEX sank to a lifetime low of 3446.26 points in October 2001. The index fell to a record low around the time the world was still grappling with the shock of a terror attack on the U.S., commonly known as 9/11. Markets worried about Taiwan’s export economy.

TWSE, which has the stocks tracked by TAIEX, was created in 1961 as the primary stock exchange platform for Taiwanese companies. But the market began formal operations in 1962. The stock market, which has more than 800 listed companies, is regulated under Taiwan’s Financial Supervisory Commission. And Cathay Financial Holding Co., Ltd. is one of them.

Trading hours in Taiwan stock market

TWSE opens for pre-market trading at 7.40 a.m. and the session lasts one hour, thus ending at 8.40 a.m. The Regular trading session on TWSE begins at 9.00 a.m. and runs until 13.45 p.m. TWSE has a post-market session that begins at 14.00 p.m. and runs through 15.00 p.m. The aftermarket session is characterized by fixed prices.

TWSE operates all weekdays but remains closed on weekends. The stock market also closes for holidays, but such closings are communicated to brokers in advance.

Prominent companies on TWSE

Hon Hai Precision Industry, fondly known as Foxconn, is a contract manufacturer for many global electronics companies such as Apple. Foxconn is one of the largest companies by market capitalization on TWSE. The company is also the world’s top contract electronics manufacturer and one of the world’s largest information technology companies by revenue. Foxconn employs more than a million people. Another example of TWSE companies is Cathay Financial Holding Co., Ltd..

Taiwan Semiconductor Manufacturing (TSMC) is another large company listed on TWSE. The company designs and manufactures semiconductors, mostly operating as a contract manufacturer serving overseas customers.

Taiwan’s economy and prospects

Taiwan has a thriving industrial economy and export trade. The country’s high-tech industry serves the global market as contract manufacturers of products such as computers and smartphones as well as components used in such electronic devices. As such, an expanding global consumer electronics market feeds Taiwan’s economic because it means more business and profit for its foundry industry.

Taiwanese stocks are among the sought-after equities in Asia as domestic and foreign investors discover the strong earnings power of Taiwanese companies coupled with the high dividends they pay. Lately, retail investors have been betting on Taiwan’s growth prospects shown by expanding well-off population that is driving consumer spending in the economy and creating conducive growth environment for domestic companies.

Efforts by Taiwanese authorities to improve corporate governance standard as a way to attract foreign direct investment into the economy is providing investor pull to Taiwan stocks. Traders noticed positive changes working with Cathay Financial Holding Co., Ltd. at the market. Taiwan’s high rankings on press freedom, economic freedom, human development and healthcare are other reasons investors are attracted to its stocks.

More notable recent Cathay Financial Holding Co., Ltd. (TPE:2882A) news were published by: Reuters.com which released: “UPDATE 1-Cathay Financial says it plans to raise up to $1.15 bln in H1” on March 20, 2017, also Reuters.com with their article: “Taiwan regulator says Cathay Financial unit to take over 2 loss-making local …” published on March 23, 2015, Businesswire.com published: “Cathay Financial Holdings Announces Acquisition of Conning” on November 12, 2014. More interesting news about Cathay Financial Holding Co., Ltd. (TPE:2882A) were released by: Moodys.com and their article: “Moody’s upgrades Cathay Life and Cathay Financial’s ratings; outlook stable …” published on December 03, 2015 as well as Theglobeandmail.com‘s news article titled: “Scotiabank selling Malaysian unit to Cathay Financial” with publication date: May 26, 2017.

CATHAY FINANCIAL HOLDING CO., LTD. is a Taiwan financial holding firm principally engaged in the financing businesses. The company has market cap of $676.30 billion. The Firm operates through five business divisions. It has a 12.99 P/E ratio. The Banking Business segment is mainly engaged in the banking, foreign exchange, guarantee, foreign exchange investment, trust and offshore financial businesses.

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By1 Clifton Ray




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