Taipei, Sept. 4 (CNA) After an index review, the Taiwan Stock Exchange, which runs the local main board, has decided to include four stocks in the FTSE TWSE Taiwan 50 Index, the most watched index in the local market by passive mutual funds.
In a statement released over the weekend, the TWSE said the Taiwan 50 Index, which is jointly compiled by the exchange and index provider FTSE Group, has added contract electronics maker Wistron Corp., Wistron's data center solution subsidiary Wiwynn Corp., Lite-On Technology Corp., a maker of power management solutions for artificial intelligence (AI) server use, and networking solution provider Accton Technology Corp.
Market analysts said the inclusion reflected the four stocks' recent solid gains amid an AI frenzy.
For example, shares of Wistron, which rolls out AI servers, had soared more than 90 percent in the past three months.
The Taiwan 50 Index consists of the largest 50 companies in terms of market capitalization and is also the first narrow-based index published in Taiwan.
The index is topped by contract chipmaker Taiwan Semiconductor Manufacturing Co.
With the addition of the four stocks, the TWSE said it has decided to remove another four from the Taiwan 50 Index, including textile brand Far Eastern New Century Corp. and cable and wire maker Walsin Lihwa Corp., as well as container cargo shipper Wan Hai Lines Ltd. and its rival Yang Ming Marine Transport Corp.
However, the TWSE said the four removed from the Taiwan 50 Index have been added to the FTSE TWSE Taiwan Mid-Cap 100 Index, which consists of the next 100 companies in terms of market cap outside the FTSE TWSE Taiwan 50 Index.
In addition to the four stocks, the TWSE said it has also added electric machinery maker Fortune Electric Co., chemical material maker Jinan Acetate Chemical Co., and semiconductor supplier VIA Technologies Inc. to the Taiwan Mid-Cap 100 index.
Meanwhile, the TWSE has removed Wistron, Wiwynn, Lite-On, Accton, bulk cargo shipper Wisdom Marine Lines Co., LED maker Ennostar Inc. and chemical material supplier Eternal Materials Co. from the Taiwan Mid-Cap 100 Index.
The index adjustments are scheduled to become effective on Sept. 18, according to the TWSE.
