Evergreen Marine Corporation (2603) Soars 1.73% on Nov 5

November 5, 2017 - By Louis Casey

Shares of Evergreen Marine Corporation (TPE:2603) last traded at 17.6, representing a move of 1.73%, or 0.3 per share, on volume of 17.76M shares. After opening the trading day at 17.3, shares of Evergreen Marine Corporation traded in a close range. Evergreen Marine Corporation currently has a total float of 3.51 billion shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 11 and high of 23.35.

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 Evergreen Marine 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. Evergreen Marine 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 Evergreen Marine 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 important recent Evergreen Marine Corporation (TPE:2603) news were published by: Bloomberg.com which released: “Evergreen Is Happy Being Single” on June 21, 2017, also Hellenicshippingnews.com published article titled: “Evergreen Marine forecast to return to profit: analysts”, Bloomberg.com published: “Taiwan Shipping’s Perilous Straits” on December 05, 2016. More interesting news about Evergreen Marine Corporation (TPE:2603) was released by: Bloomberg.com and their article: “Asia’s Shipping Lines Are Facing More Mergers” with publication date: January 03, 2017.

EVERGREEN MARINE CORP. LTD