Equity investors in Taiwan suffered average losses of NT$409,500 (US$12,112) in the Year of the Goat, amid concerns over a slowing global economy and volatility in global financial markets, according to statistics released yesterday.
In the Year of the Goat, equity investors incurred NT$409,500 in losses on average as the weighted index on the local main board fell 1,466 points, or 15.3 percent.
Due to the steep decline in share prices, the market capitalization of the main board shrank by about NT$3.86 trillion.
The average loss shouldered by each equity investor was calculated based on the 9.43 million securities trading accounts in the equity market.
In the Year of the Goat, a high of 10,014.28 points in the weighted index was recorded on April 28 last year, but selling started to set in, particularly in August, when the yuan plunged against the US dollar, sending ripples through global financial markets.
Fears over an interest rate hike cycle launched by the US Federal Reserve created added pressure on local shares.
The weighted index plunged to the year’s low of 7,203.07 on Aug. 24.
After the Year of the Goat, the Year of the Monkey is to follow as the ninth year in the Chinese zodiac cycle. The first trading session in the Year of the Monkey is scheduled for Feb. 15.
Looking ahead, analysts said that how the equity market will move after trading resumes will depend on the performance of global financial markets during the Lunar New Year holiday.
They said that investors should stay alert for several international factors, such as the movement of international crude oil prices, the economic situation in China and the pace of an interest rate hike cycle by the Fed.
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