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TAIWAN DAYBOOK: Central Bank Governor Perng Attends Parliament

Nov. 2 (Bloomberg) -- Taiwan central bank governor Perng Fai-nan will take questions from legislators at the finance committee’s review of the central-government budget in Parliament starting at 9 a.m. today.


WHAT TO WATCH:
* James Soong will join the race for the presidency after
gathering enough signatures to qualify
* Taiwan’s dollar fell 0.5 percent, the most since Oct. 20, to
NT$30.086 against its U.S. counterpart, Taipei Forex Inc. says
* The yield on government 2 percent bonds due July 2016 declines
0.03 percentage point to 1.339 percent
* The benchmark Taiex rose 0.5 percent to 7,622.01, the highest
level since Sept. 2
* Overseas investors were net buyers of Taiwan’s stocks; net
purchases were NT$3.2 billion ($106 million)


EQUITY MOVERS:
* AU Optronics (2409 TT) is cutting salary of president and vice
presidents by 15% from this month, Taipei-based United Evening
News reports yesterday, citing company people it didn’t identify
* Cathay Financial Holding (2882 TT) is in talks to buy stakes
in Chinese banks, Commercial Times reports, citing President Lee
Chang-ken
* China Life Insurance’s (2823 TT) CCB Life Insurance joint
venture gets CIRC approval to set up a Shandong branch
* Chinatrust Financial Holding (2891 TT) complete the purchase
of MetLife Taiwan Insurance from MetLife
* HTC (2498 TT) overtook Apple, Samsung in the third quarter as
the leading smartphone vendor in the U.S., Canalys says
* Power Mate Technology (8109 TT) October sales drop 31 percent
to NT$48 million from a year earlier.
* Solatech Energy (3561 TT) October sales decline 41 percent on
year to NT$7756 million

RATINGS CHANGE:
* Advanced Semiconductor Engineering (2311 TT) was rated
“hold” in new coverage at Jefferies
* Lite-On (2301 TT) cut “Neutral” at Jih Sun Securities
* Siliconware Precision (2325 TT) was rated “underperform” in
new coverage at Jefferies
* Taiwan Cement (1101 TT) cut to “Neutral” at Jih Sun

GOVERNMENT:
* Overview of offshore banking units in Sept., 4:20 p.m.

BTV HIGHLIGHTS (All Hong Kong time):
09:40 CCB Global Head of Financial Strategy Paul Schult
10:10 Robeco Investment Asia CIO Arnout Van Rijn
10:50 Quintessentially Global CEO Emma Sherrard Matthew
11:15 UBS Chief Investment Strategist Pu Yonghao

To contact Bloomberg News staff for this story: Janet Ong in Taipei at jong3@bloomberg.net

To contact the editor responsible for this story: Joshua Fellman at jfellman@bloomberg.net

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