Taiwanese equity tide turns back

The continuing collapse of the Taiwan Weighted Index has temporarily put paid to the international equity pipeline as well.

In tandem with each new slide in domestic sentiment, international investors have become increasingly more hostile to even the largest prospective equity issuers from the Island Republic.

Of the four companies active in the market this week, only one, Advanced Semiconductor Engineering ASE has achieved its stated objective and become the third Taiwanese company to list on the New York Stock Exchange NYSE. A second company, IC designer Sunplus pulled its debut GDR hours before pricing on Thursday, while LCD manufacturer Wintek pushed back roadshows which were supposed to start on the same day. Meanwhile, memory chip manufacturer Macronix, the first Taiwanese company to list on Nasdaq, is taking a wait and...

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