- Local currency strengthens most in more than six weeks
- Government sells 10-year bonds at record-low yield of 0.802%
Taiwan’s benchmark stock index was little changed in light trading in the week’s extended session Saturday, while the currency gained and the government sold bonds at a record low yield. Local financial markets were open today in exchange for being closed on Dragon Boat Festival holidays next week.
The Taiex index of 855 companies traded on the Taiwan Stock Exchange added 4.2 points to 8,591.57; 430 stocks rose, 288 fell and 137 were unchanged.
The biggest contributors to the gain include Formosa Petrochemical Corp. and MediaTek Inc. Market turnover fell to NT$29.9 billion, less than half of NT$64 billion on Friday. HTC Corp., which gained 5.1 percent to NT$101, was the most active stock by value in Taiwan.
Bonds advanced, with yield of 10-year note falling 1.7 basis point to 0.794 percent, Taipei Exchange prices show. The government sold NT$30 billion of 10-year bonds at a record-low 0.802 percent yield today, compared with the 0.8 percent median estimate in a Bloomberg survey of nine fixed-income traders.
The Taiwan dollar strengthened 0.3 percent to 32.506 versus the U.S. currency, the biggest gain since April 19, according to prices from Taipei Forex Inc.