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Mega Financial Holding eyes growth as profit slips


Mega Financial Holding eyes growth as profit slips
By Crystal Hsu / Staff reporter
State-run Mega Financial Holding Co (兆豐金控) aims to improve its earnings ability this year by targeting overseas banking, mortgage lending and wealth management operations, company officials told an online investors conference yesterday.
The bank-focused conglomerate unveiled the goal after its net income declined 14 percent to NT$25.02 billion (US$880.1 million) last year, or earnings per share of NT$1.84.
Drastic interest rate cuts by central banks to mitigate the effects of the COVID-19 pandemic weighed on interest income and bancassurance, Mega Financial president David Hu (胡光華) said.
The Mega Financial Holding Co offices are pictured in Taipei in an undated photograph. The company told an online investors conference yesterday that it aims to improve its earnings ability this year by targeting overseas banking, mortgage lending and wealth management operatio ....

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Taiwan shares end down, but bounce back as TSMC recoups earlier losses


Taiwan shares end down, but bounce back as TSMC recoups earlier losses
03/05/2021 05:08 PM
CNA photo March 5, 2021
Taipei, March 5 (CNA) Shares in Taiwan moved lower on Friday, but recovered from an earlier drop with contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock on the local market, recouping all its losses, dealers said.
Many investors appeared cautious about market movement down the road amid rising worries that a spike in interest rates could hurt tech stocks with higher valuations, after the yield on benchmark 10-year U.S. treasury bills spiked overnight, they said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended down 51.18 points, or 0.32 percent, at 15,855.23, after moving between 15,636.43 and 15,934.43. Turnover stood at NT$303.30 billion (US$10.87 billion), compared with NT$335.42 billion seen a session earlier. ....

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TSMC top pick on stabilization fund list to support market


TSMC top pick on stabilization fund list to support market
01/13/2021 07:50 PM
CNA file photo
Taipei, Jan. 13 (CNA) Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) was the top pick on the investment list of the National Stabilization Fund, as the fund entered the local equity market in its latest efforts to prop up the market, the fund s committee said Wednesday.
According to the committee, the stabilization fund injected a total of NT$757 million (US$266 million) during the period between March 20 and Oct. 12 in 2020 to reinforce investor confidence in a market in turmoil over the COVID-19 pandemic.
During the period, the fund spent NT$168 million on shares of TSMC, the most heavily weighted stock in the local market, accounting for more than 22 percent of the total investment, making the chipmaker the top investment on the list, the committee said. ....

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