TAIWAN DAYBOOK: Government Will Sell NT$30 Billion of Bonds
Taiwan’s government may sell NT$30 billion ($995 million) of 30-year bonds at 1.95 percent, according to the median estimate of bond traders in a Bloomberg News survey.
The highest forecast was 1.97 percent and the lowest 1.925 percent, the poll of five finance companies showed. Investors will bid on the yield at the auction. The issuer will set the security’s coupon by taking the highest winning yield.
The auction results will be announced at 12:30 p.m. local time today.
WHAT TO WATCH: * Taiwan to halve tariffs on milk powder, infant formula, corn starch and soybean powder for 6 months; butter duty to drop 25% * Taiwan’s dollar gains for a second day, rising 0.1 percent to NT$30.165 against its U.S. counterpart, Taipei Forex says * The benchmark Taiex index rose 2.2 percent to 7,525.65, the biggest advance since Oct. 24 * Overseas investors were net buyers of Taiwan’s stocks; net purchases were NT$5.8 billion * Taiwan central bank issued NT$44.353 billion in certificates of deposit, less than the NT$46.788 billion that mature ECONOMICS * Taiwan’s September notional amounts of outstanding derivatives by risk and trading purpose, 4:20 p.m. EQUITY MOVERS: * China Steel (2002 TT) buys $8.9 million and 2.5 million euros of forward contracts for hedging * Fast Technologies (5205 TT) to buy back one million shares at between NT$35 and NT$90 by Jan. 14 * MStar (3697 TT) got smart TV chip orders from Toshiba, Digitimes reported, without saying where it got its information * Mega Financial’s (2886 TT) banking unit sells NT$7.9 billion of seven-year subordinated debt at 1.62 percent * Powerchip Semiconductor (5346 TT) said it is seeking extension on debt repayment * Silicon Integrated (2363 TT) to buy back 30 million shares, or 4.39 percent of outstanding stock, by Jan. 14 EVENTS: * Taiwan Futures Exchange holds a half-day forum, 2 p.m. GOVERNMENT: * Taiwan to auction NT$30 billion 30-year bonds, 12:30 p.m. * Taiwan Financial Supervisory Commission meeting, 5 p.m. BTV HIGHLIGHTS (All Hong Kong time): 9:10 Societe Generale Asia Equity Strategist Todd Martin 9:40 Frost & Sullivan China Partner & MD Neil Wang 10:10 HSBC Private Head of Investment Strategy Ben Pedley, 11:40 Credit Agricole Head of Global FX Strategy Mitul Kotecha
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