Shares of the nation's first high-speed railway operator Taiwan High Speed Rail Corp (THSRC,
On Sunday night the government said that it planned to give the go-ahead to THSRC this week to operate the NT$500-billion (US$15.33 billion) bullet train system after a delay of more than a year.
THSRC expects to begin test runs next Monday at the earliest.
THSRC shares jumped 5.4 percent to NT$11.88 on the grey market yesterday.
Stock prices of construction firms, which planned to build commercial buildings, or housing apartments near the railway, such as Radium Life Tech Co (
"Investors rekindled their hopes of benefiting from the price hikes brought by the long-awaited operation of the high-speed railway," said Henry Miao (
The launch of the high-speed train service would prompt prices for property in the nearby areas to rise by approximately 20 percent to 30 percent from their current prices, according to a survey released by local housing agency Evertrust Rehouse (永慶房屋) yesterday.
Shares of Radium Life Tech and King's Town Construction Co (
Radium Life Tech and King's Town Construction plan to build housing complexes near the high-speed railway's Taipei and Kaohsiung stations, respectively.
"We expect that prices for properties in the vicinity of high-speed railway stations will regain momentum after the service begins operating," Evertrust Rehouse president Benson Liao (
"We are bullish about the property market in the medium and long term," he said.
The stock price of THSRC's biggest shareholder Continental Engineering Corp (大陸工程) also inched up 0.17 percent to NT$29.29 on the Taiwan Stock Exchange, as the construction company owns the right to develop some pieces of property in central Taiwan, where bullet trains will stop.
Stock prices of THSRC's major shareholders such as local TV maker Teco Electric and Machinery Co (
THSRC said that it lost NT$1.21 billion, or NT$0.59 per share, in the first six months of the year.
So far, the company has borrowed in excess of NT$400 billion from banks to finance the construction of the high-speed railway.
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