PLEBISCITE’S BITE: Shares in firms linked to wind farms fell following the approval of referendum #16, which urged an end to plans to phase out nuclear energy by 2025

Taipei Times
Date: Nov 27, 2018
By: Kao Shih-ching  /  Staff reporter

The TAIEX rebounded yesterday to close up 1.01 percent in the first trading session after the nine-in-one elections, buoyed by tourism-related shares and shares in firms with links to Apple Inc, as well as reduced political uncertainty.

The tourism sub-index saw the biggest gains as it rose 3.15 percent, with shares of Phoenix Tours International Inc (鳳凰旅遊) jumping 7.51 percent, Lion Travel Service Co (雄獅旅遊) rising 4.53 percent and Formosa International Hotels Corp (晶華酒店) increasing 2.51 percent.

“Tourism-related shares were boosted by Kaohsiung mayor-elect Han Kuo-yu’s (韓國瑜) campaign pledge to promote tourism,” Hua Nan Securities Investment Management Co (華南投顧) chairman David Chu (儲祥生) told the Taipei Times by telephone.

“However, given that Han has not announced any specific policies, the rise, which is not significant today, might not be sustained despite the optimistic sentiment,” Chu said.    [FULL  STORY]