Average daily turnover in the local stock market was NT$200.731 billion (US$7.04 billion) last year, up 67.17 percent from a year earlier, as the TAIEX advanced 22.8 percent year-on-year, the Financial Supervisory Commission (FSC) said yesterday.
The TAIEX yesterday closed at 14,732.53 points, up 0.31 percent, not only hitting a record high, but also marking a rise of 22.8 percent from 11,997.14 points at the end of 2019, Taiwan Stock Exchange (TWSE) data showed.
“Overall, the local stock market’s trading volume and price improved this year, which could be attributed to the locally listed companies’ solid fundamentals and the nation containing the spread of COVID-19,” Securities and Futures Bureau Deputy Director-General Tsai Li-ling (蔡麗玲) told a news conference in New Taipei City.
Photo: CNA
Although the TAIEX sank below the 10,000-point mark from the middle of March to early April, due to the fast, worldwide spread of COVID-19, the index on April 8 rebounded to 10,137 points and has steadily been above 10,000 points since, Tsai said.
The TAIEX smashed its previous highest level of 12,495 points, recorded on Feb. 10, 1990, when it closed at 12,588 points on July 27, and has since hit several record highs, she said.
The index has remained above 14,000 points for 20 sessions in a row after hitting 14,132 points on Dec. 4, she added.
As of Wednesday, the TAIEX rose 22.43 percent from the end of 2019, ranking third among the world’s major stock market indices, behind China’s Shenzhen Stock Exchange Composite Index’s rise of 36.15 percent and Seoul’s Korea Stock Exchange KOSPI’s gain of 30.75 percent, exchange data showed.
Encouraged by the bullish economy, more investors entered the market, boosting overall turnover to NT$49.18 trillion for the whole of last year, up 66 percent from a year earlier, an all-time high, exchange data showed.
The number of big investors, defined as those trading NT$500 million or more in a single quarter, totaled 2,369 in the third quarter last year, up 41 percent quarterly, while that of retail investors also grew 15 percent quarter-on-quarter to 3.23 million, it showed.
Foreign institutional investors and Chinese investors traded a total of NT$540.2 billion in local shares, exchange data showed.
The 67 percent increase of average daily turnover in the local stock market also ranked third among the world’s major stock markets, following the 144 percent advance in South Korea’s stock market and the 34.22 percent hike in the market in Shenzhen, the data showed.
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