The total assets of exchange-traded funds (ETFs) listed in the local equity market rose more than 20 percent from December last year to the end of last month, the Taiwan Stock Exchange (TWSE) said.
The TWSE said that there were 49 ETFs trading on the main board last month, with total assets of NT$247.8 billion (US$7.62 billion), up 20.58 percent from NT$205.5 billion at the end of last year.
With the local ETF market gaining popularity, the average daily turnover for the first five months of this year totaled NT$8.22 billion, up 27.16 percent from an average of NT$6.7 billion for the whole of last year, the TWSE said.
The significant growth in the average trading value in ETF transactions was in sharp contrast to tepid trading on the main board, with many major market players scaling back trading on the local bourse.
TWSE data show that the average daily trading volume of stocks for the first five months of this year was NT$72.55 billion, down from last year’s daily average of NT$82.75 billion.
Market analysts said that ETFs have been well received among investors after the TWSE tried hard to broaden the ETF portfolio, tracking financial products not only at home but also abroad, a move that has allowed the local ETF market to attain a global reach, thereby boosting trading interest.
Taiwan’s ETFs have tracked financial products in several foreign markets, such as Japan, the US, Hong Kong, China, India and Europe.
The TWSE said it is determined to introduce more ETF products to provide investors with a greater number of trading options.
Analysts said that the TWSE has devoted itself to promoting ETF trading by launching various campaigns, including activities to encourage brokerages to take more orders and boost trading.
The TWSE held a contest over the five-month period in which brokerages competed with one another in terms of ETF transaction amounts.
On the back of its efforts to raise ETF trading orders taken by brokerages, the transaction value of ETFs through brokerages in the local market for the first five months of this year rose 68.27 percent from the same period last year to NT$1.06 trillion, the TWSE said.
The January-to-May figure represents a 16 percent increase from the August-to-December period last year, the TWSE said, adding that its campaign has paid off.
In the first five monthsr, the Taipei branch of KGI Securities (凱基證券) ranked as the top ETF dealer, with aggregate transactions topping NT$40.5 billion, the TWSE said.
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