Taiwan, Korea bourses plan to launch chip index next year

The Taiwan and South Korea stock exchanges plan to launch a semiconductor index next year, two people familiar with the matter said Wednesday. "The two sides need to first compile the index. Once there is consensus the technical details can be figured out next year," one of the people told Reuters on the condition of anonymity.
The Taiwan Stock Exchange (TSE) is holding a press conference Friday with its Korean counterpart to sign a memorandum of understanding for cooperation, according to an invitation sent to reporters. When asked about a possible joint index, Naikuan Huang, TSE senior executive vice president, said both sides are open to cooperation and have discussed creating indices based on tech stocks, but have not studied the matter. Officials with the Korea Exchange could not be immediately reached immediately for comment.