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
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