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Financial Stocks Under Pressure! Cheng Shin Rubber Faces 1.09 Billion Sell-off by Proprietary Traders Despite 2.4 Yuan Dividend

Financial Stocks Under Pressure! Cheng Shin Rubber Faces 1.09 Billion Sell-off by Proprietary Traders Despite 2.4 Yuan Dividend

According to FTNN News Network, the Taiwan stock market closed at 22072.95 points this week (June 9 to June 13), up 412.29 points, marking a 1.9% increase. Proprietary traders recorded a net buying of 1.541 billion yuan, yet five out of the top ten sold stocks were financial shares, with four in electronics and one in traditional industries.

Leading the sell-off were Cathay Financial (2882) and Yongfeng Financial (2890), selling 3,570 and 2,658 shares respectively. Cheng Shin Rubber (2105) followed in third place with a sell-off of 2,592 shares worth 1.09 billion yuan. On the ex-dividend day (June 12), the dividend was 2.4 yuan, but the reference price was 44.7 yuan. The stock closed at 41.4 yuan on June 13, down 3.27%, still in a state of being below the dividend.

示意図

Data from the sell-off indicates that Cathay Financial (2882) leads in shares sold, followed by Yongfeng Financial (2890) and Cheng Shin (2105). Fubon Financial (2881) and Winbond Electronics (2344) rank fourth and fifth respectively. This market situation clearly indicates significant selling pressure on financial stocks.