Chia Ta World Co Ltd (2033) Jumps 0.66% on Nov 9

November 9, 2017 - By Migdalia James

Shares of Chia Ta World Co Ltd (TPE:2033) last traded at 9.19, representing a move of 0.66%, or 0.06 per share, on volume of 2,000 shares. After opening the trading day at 9.19, shares of Chia Ta World Co Ltd traded in a close range. Chia Ta World Co Ltd currently has a total float of 80.69M shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 8.53 and high of 10.

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. Chia Ta World 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 Chia Ta World 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 Chia Ta World 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 Chia Ta World 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.

Chia Ta World Co., Ltd is a Taiwan-based firm principally engaged in the manufacturing, processing and distribution of steel wires and cables. The company has market cap of $741.58 million. The Company’s product portfolio consists of general steel wires, galvanized steel wires, pre-stressed concrete steel wires and strands, pre-stressed concrete steel bars and galvanized and ungalvanized steel wire strands. its wires and cable products are applied in power cables, telecommunication overhead lines, packaging wires, steel cables, spring beds, shops equipment, bridges, ships and utility poles, among others. It has a 17.94 P/E ratio.

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By1 Migdalia James




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