Wed, Jan 19, 2011 - Page 11 News List

Poll sees TAIEX hitting 10,000 points in six months

Staff writer, with CNA

A poll released yesterday showed that 54 percent of respondents expect the TAIEX to hit the 10,000-point mark in six months amid a bullish market sentiment after recent significant gains.

The benchmark index rose 7.17 percent last month and even breached 9,000 points early this month.

Meanwhile, 25 percent of those polled by Cathay Financial Holdings Co (國泰金控) said they do not expect the index to breach the 10,000 mark in the coming six months.

The survey, conducted from Jan. 1 to Jan. 7, showed that 56 percent of 6,476 respondents expect the local bourse to rise over the next six months, while 16 percent said the market would fall.

ECONOMIC EXPANSION

A total of 57.6 percent said they expected the local economy to expand over the next six months, while 10.8 percent said the economy was likely to deteriorate during the period.

Although growth in exports and business sales has moderated after a significant rebound last year, the respondents remained confident about the local economy’s performance in the next six month.

This faith in the local economy was bolstered by a falling unemployment rate, China’s rapidly growing economy and the US economic recovery.

In November, the government revised downward its economic growth forecast for this year to 4.51 percent from a prior estimate of 4.64 percent after an estimated growth of 9.98 percent last year.

FALLING UNEMPLOYMENT

The jobless rate in November last year fell to 4.73 percent after dropping below 5 percent in October for the first time since November 2008, down from a high of 6.13 percent in August 2009.

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