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Electronics stocks are top gainers in Year of the Horse

Electronics stocks are top gainers in Year of the Horse

Shares in Taiwan closed higher on the final day of trading in the Year of the Horse and before the week-long Lunar New Year holidays, but turnover remained low as many investors appeared reluctant to chase prices ahead of the break. The local bourse closed at 9,529.51 points on February 13.

Shares on the Taiwan Securities Exchange (TAIEX) rose 1,066 points or 12.6 percent during the Year of the Horse, the strongest gains since the TAIEX posted a 22.9 percent gain during the Year of the Tiger in 2011. The year-end closing level was the highest in 15 years.

In the Year of the Horse, the semiconductor sub-index led gainers by 35.88 percent. The optoelectronics, electronics, electrical, and shipping and transportation sub-indices also saw a rate of increase of more than 20 percent throughout the year.

14 sub-indices encountered losses. The electrical and cable, chemical/biotechnology and medical care, tourism, and paper and pulp sub-indices fell by more than 10 percent, and the cement and ceramic sub-index dropped almost 20 percent, making it the worst performer for the year.

In terms of the individual stocks, shares of Nanya Technology (2408) soared by 1456 percent to end at NT$78.80 as the top performer in the Year of the Horse thanks to its impressive earnings performance. MediaCorp. (910708) came in second and Infodisc (2391) was third.

Among the top ten biggest percentage gainers, optoelectronics companies took three spots, including Infodisc, Enlight Corp. (2438), and Optimax (3051). Automobile electronic parts maker Cubelec (2231) and MediaCorp were the only two non-electronic stocks on the top ten list.

Among the worst performers, home appliance maker Airmate (1626) dropped by 64 percent as the biggest percentage decliner.

Updated : 2021-09-25 17:40 GMT+08:00