TAIWAN DAYBOOK: Export Growth May Have Slowed to 5.4% in October
Taiwan’s year-on-year export growth may have slowed to 5.4 percent last month from 9.9 percent in September, according to the median estimate of nine economists surveyed by Bloomberg News.
The island’s Ministry of Finance is scheduled to announce trade data, including imports and total trade balance, at 4 p.m. in Taipei today. Taiwan’s statistics bureau will report October consumer prices at the same time.
WHAT TO WATCH: * Taiwan October exports, imports, trade balance, 4 p.m. * Taiwan Oct. consumer price index, 4 p.m. * Taiwan Oct. wholesale prices, 4 p.m. * President Ma Ying-jeou’s lead over opposition Democratic Progressive Party candidate Tsai Ing-wen is the narrowest since August, according to the Taipei-based TVBS Poll Center * The central bank on Nov. 4 sold NT$100 billion ($3.3 billion) of 364-day certificates of deposit at an average yield of 0.96 percent, and attracted bids for 3.35 times the amount on offer * Taiwan’s dollar on Nov. 4 snapped a four-day decline, appreciating 0.7 percent to NT$30.025 against its U.S. counterpart, according to Taipei Forex Inc. * The yield on the 1.25 percent government bond due September 2021 rose one basis point to 1.33 percent * The Taiex climbed 1.9 percent to 7,603.23 on Nov. 4, the biggest gain since Oct. 24. The benchmark index dropped 0.2 percent last week * Overseas investors on Friday were net buyers of Taiwan’s stocks with net purchases of NT$4.9 billion EQUITY MOVERS: * China Steel Corp. (2002 TT) may reduce output by as much as 20 percent in December as orders for the month decline, the Taipei-based Commercial Times reported * EVA Airways (2618 TT) was cut to “underperform” at Credit Suisse * Fubon Financial Holding’s (2881 TT) property and casualty insurance unit received approval from China’s insurance regulator to set up a branch in Chongqing * HTC’s (2498 TT) October sales rose 39 percent from a year earlier to NT$44 billion * Neo Solar Power (3576 TT) said October sales fell 46 percent from a year earlier to NT$1.18 billion * President Chain Store (2912 TT) was cut to “underperform” at Credit Suisse EVENTS: * Deutsche Bank Access Taiwan Conference 2011, Nov. 7-8 * SEACEN-Deutsche Bank course on bank stress testing, Nov. 7-11 GOVERNMENT: * Taiwan October call loan market and financial commercial paper market, 4:20p.m. BTV HIGHLIGHTS (All Hong Kong time): 07:40 Binay Chandgothia, Principal GI MD/Portfolio Manager 08:10: BNP Chief Investment Advisor, Asia Andrew Freris 09:40: Standard Chartered Sr FX Strategist, Robert Minikin 10:40: Manpower Chairman/CEO, Jeffrey Joerres 11:15: Citibank Chief Asian Strategis,t John Woods
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