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Top Salary 100 Index off to good start
Central News Agency
2014-08-30 09:49 PM
Taipei, Aug. 30 (CNA) A new stock index covering the 100 best-paying listed local firms has attracted strong investor interest since its launch this week, the Taiwan Stock Exchange (TWSE) said Saturday. Several large-cap international mutual funds have indicated their plans to invest in the Top Salary 100 Index, with their total investments expected to exceed NT$30 billion (US$1 billion), the TWSE said. The index, inaugurated Aug. 25, is the first anywhere in the world to select its constituent stocks based on their remuneration and profitability, according to the TWSE. Currently, the top 10 stocks on the index are Taiwan Semiconductor Manufacturing Co., Hon Hai Precision Industry, Chunghwa Telecom, Fubon Financial Holding Co., CTBC Financial Holding Co., Taishin Financial Holding, Mega Financial Holding Co., Nan Ya Plastics, China Steel Corp. and Quanta Computer. From June 2009 to May 2014, the annualized rate of return of the 100 currently listed stocks was 10.56 percent, surpassing the broader market's 9.3 percent during the same period, according to TWSE. Tseng Ming-chung, chairman of the Financial Supervisory Commission, had previously said the index would help encourage Taiwanese companies to increase salaries and retain talent, which in turn could boost industrial innovation and upgrade. (By Tien Yu-pin and Y.F. Low)
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