TAIPEI, June 21 (Reuters) - Taiwan will encourage more of the island’s financial firms to list on the domestic bourse and is teaming up with its South Korean counterpart to check funds shifting toward China shares after they were included for the first time in a global index, the president of the Taiwan Stock Exchange Corp said Wednesday.
Lee Chi-hsien told Reuters in a phone interview that Taiwanese financial firms, including Shanghai Commercial & Savings Bank and Nan Shan Life Insurance Co Ltd, will be encouraged to list on the main index.
Lee said the bourse and the Korea Exchange could as soon as July or August jointly launch indices comprised of Taiwanese and South Korean technology firms, and companies that offer high dividends to attract more investors to the two exchanges.
“We must rely on ourselves and make Taiwan stocks bigger and better,” Lee said.
Lee’s comments come after U.S. index provider MSCI said it would add a selection of China’s so-called “A” shares to its Emerging Markets Index, giving China a win in its long campaign for inclusion in a leading emerging markets benchmark, in what was seen as a milestone for global investing.
Reporting by Roger Tung; Writing by J.R. Wu; Editing by Shri Navaratnam