By: Tien Yu-pin and Frances Huang
Taipei, July 18 (CNA) Securities companies operating in Taiwan saw their net profit for June fall more than 70 percent from a month earlier, reflecting of a decline in share prices and a shrinkage in daily turnover, according to the Taiwan Stock Exchange (TWSE).
In June, the weighted index on the local main board fell 378.05 points, or 3.9 percent, from the end of May amid concerns over Greek debt and fears that a slowdown in the global high-tech sector would hurt the local electronics sector’s bottom line, analysts said.
Worries over an interest rate hike cycle to be launched by the U.S. Federal Reserve later in the year also turned many investors away from the trading floor, analysts added. [FULL STORY]