Public confidence in the local bourse plunged this month as the TAIEX lost 7.67 percent so far this year, with global funds pulling out of Asian markets — including Taiwan — on concern over disappointing economic data, a Cathay Financial Holding Co (國泰金控) survey showed yesterday.
About 50 percent of the respondents expect the main trading index to weaken further in the coming six months, while only 17.7 percent held a positive view, the survey found.
Nineteen percent had a neutral stance, while 14 percent said they did not know, it showed.
The results fell in line with the TAIEX’s poor showing so far this year, even though it fared better than regional peers due to intervention via the National Stabilization Fund (國安基金).
The dull economic outlook and lingering policy uncertainty are believed to be weighing on local financial markets, while the US Federal Reserve’s recent interest rate hike helped foster turmoil across bourses worldwide, Cathay Financial Holding said.
Among respondents, 48.6 percent said the TAIEX is likely to peak between 8,000 and 8,500 points this year, while 51.4 percent said the trough would be from 7,000 to 8,000, the survey showed.
Another 34 percent said the weighted index could fall below the 7,000-point mark, it showed.
The forecasts suggest limited room for upward movement given the TAIEX’s 7,699.12 close yesterday.
As a result, risk appetite declined, with 32.2 percent saying they had plans to cut positions, although 53.5 percent said they intended to stay put and 14.3 percent aim to increase stakes.
Willingness for private consumption also took a hit, with 39.6 percent planning to cut purchases of durable goods, while 29.4 percent said they would lower spending on big-ticket items.
As for the property market, 76.4 percent said it is not wise to buy homes now, while 60.2 percent said it is ill-advised to sell, the survey showed.
The findings indicated an extended soft patch for housing transactions, though property analysts forecast a rebound following the elections.
A total of 45.7 percent said the economy would deteriorate going forward, while 19 percent said it would improve, the survey showed.
The survey was conducted among 16,537 Cathay Financial customers online from Jan. 1 to Jan. 7.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI