Ritek Corporation (2349) Plunges -0.8% on Nov 15

November 15, 2017 - By Maria Brooks

Shares of Ritek Corporation (TPE:2349) last traded at 4.96, representing a move of -0.8%, or -0.04 per share, on volume of 3.04 million shares. After opening the trading day at 4.97, shares of Ritek Corporation traded in a close range. Ritek Corporation currently has a total float of 1.74 billion shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 4.5 and high of 6.63.

TAIEX: Making A Name For Itself

Taiwan cannot simply be underestimated and put in the shadow of China, the biggest economy in Asia. It has an identity of its own as it transforms into an emerging country with an excellent corporate governance shaping its own trade and commerce environment. In short, Taiwan is one of Asia’s leading nations full of promising potentials. All the companies in its index list as Ritek Corporation see this potential.

History of the Taiwanese Equity Market

The Taiwan Stock Exchange (TWSE) was established on October 23, 1961, with formal operations launching on February 9, 1962. Currently operated by the TWSE Corp., it is governed by the nation’s Financial Supervisory Commission.

Taiwan is home to some of the most influential companies in the world such as the Taiwan Semiconductor Manufacturing (TSMC), Hon Hai Precision Industry, among others. As local companies with significant global ties, the TSMC and Hon Hai Precision Industry alone make up a huge portion of the TWSE.

The pre-market trading on the TWSE opens at 7:40 a.m. and closed at 8:40 a.m. Then, the regular trading opens at 9:00 a.m. and closes at 1:45 p.m. There is also a one-hour post-market trading that opens at 2:00 p.m. and closes at 3:00 p.m. Ritek Corporation prefers to stay present there daily.

The Taiwan Capitalization-Weighted Stock Index (TAIEX) is the benchmark Taiwanese index. As a market-capitalization-weighted index, it weighs all the companies listed on the TWSE based on market valuation using the base value of 100. The base date for this is 1966 but the TAIEX was not officially published until 1967.

Not all companies listed on the TWSE can be included in the TAIEX. They can only be eligible for inclusion as long as they have been listed on the TWSE for at least a month; they are not preferred stocks; and they are not full-delivery stocks. Given its broad nature, the TAIEX provides a meaningful representation of the current situation of the Taiwanese economy.

Significant Milestones

As of December 31, 2013, the TWSE has an overall market capitalization of over NT$24.50 million, with over 800 companies listed on it.

In 2000, the TAIEX had posted its all-time high of 10,202.20; and a year later, it had posted its all-time low of 3,446.26.

The TAIEX had attained its all-time high primarily due to the strong recovery of the Taiwanese economy from a depressing turmoil, which had been caused by an earthquake in 1999. Meanwhile, its all-time low had been mainly driven by the series of terrorists attacks in the US on September 11, 2001. The tragedy had a huge impact on the global economy and not just on the US economy. Taiwan, for example, had suffered primarily in the export industry.

As aforementioned, Taiwan has endless potentials to grow as a powerful Asian nation. And Ritek Corporation shares feel it. That being said, those who bet on its growth prospects as early as now are basically leveraging their own growth opportunities. The success of the TWSE through the years speaks of itself, which is why it is ideal for investors to trade on the TWSE today.

More notable recent Ritek Corporation (TPE:2349) news were published by: Businesswire.com which released: “Global Flexible Display Market Analysis 2017 – Forecast to 2023 – Research and …” on October 10, 2017, also Globenewswire.com with their article: “Global Organic Light Emitting Diode (OLED) Market to 2025: Market is Expected …” published on June 22, 2017, Businesswire.com published: “Recordable Optical Disc Market: Industry Analysis & Assessment to 2025 …” on May 16, 2016. More interesting news about Ritek Corporation (TPE:2349) were released by: Prnewswire.com and their article: “Recordable Optical Disc Market: Global Industry Analysis and Opportunity …” published on November 13, 2015 as well as Prweb.com‘s news article titled: “What Does Commercial Solar and Artisan Cheese have in Common?” with publication date: April 05, 2011.

Ritek Corporation is principally engaged in the manufacture, processing and distribution of optical products. The company has market cap of $8.76 billion. The Company’s products include electronic storage products, such as memory cards and portable disks, as well as information products, disk products and peripheral products, including compact disc-recordable , digital versatile disc (DVD)+R/-R, CD-rewritable (CD-RW), multifunctional digital optic discs, secure digital cards, memory cards and others. It currently has negative earnings. The Company’s products are applied in computers, digital cameras, mobile phones, notebook computers, moving picture experts group audio layer three (MP3) players and other consumer electronics.

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