Taiwan: Stocks almost flat, Mega Financial leads financials down

Taiwan stocks were almost flat on Wednesday morning as losses in financial shares, led by Mega Financial, eroded early gains.

Shares in the Taiwanese financial holding company, the focus of a probe by local prosecutors following a rare fine for anti-money laundering violations in the US, were sliding for the fourth session running.

As of 0252 GMT, the main Taiex index was unchanged at 9,031.24 points, after closing up 0.5 per cent in the previous session.

Tempering the selling was buying in tech heavyweight Hon Hai Precision, whose shares were 1.2 per cent higher, helping push the electronics subindex up 0.2 per cent.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Epic Research Singapore : Market Update

Japan (Nikkei Average) up 3.1% (closed)
Hong Kong (Hang Seng Index) up 0.2% (closed)
Shanghai (Shanghai Composite Index) down 0.8% (closed)
Sydney (S&P/ASX 200) up 0.2%  (closed)
Seoul (Kospi) flat  (closed)
 


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Epic Research Singapore : Panasonic News Update

Panasonic Corp. is considering selling the former site of its plasma television panel development plant in Osaka, as the electronics maker has decided to withdraw from the plasma TV business, Kyodo News reported, citing sources close to the matter.

The company may consider renting out part of the 120,000-square-meter site to Yamato Transport Co. The city of Ibaraki, where the facility is located, is also showing interest in acquiring the land, they said.

The production of plasma display panels began in 2001 at the plant, but it later became a base for assembling TVs and developing display panels after the company transferred plasma display panel production to its Amagasaki plant in Hyogo Prefecture in fiscal 2008. 
 Due to the sluggish plasma TV business, Panasonic incurred a massive group net loss for the second straight year in fiscal 2012 ended March 2013. 

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