The number of day traders surpassed 3 million for the first time last month, accounting for a record 14.5 percent of all investors, as more embraced day trading amid a bullish stock market, Financial Supervisory Commission (FSC) data showed on Tuesday.
The number of day-trading accounts grew 41 percent from 2.19 million a year earlier to 3.09 million at the end of last month, compared with an annual rise of 7.5 percent of stock-trading accounts to 21.29 million, the data showed.
Among the 1.5 million newly opened stock-trading accounts over the past year, 90 percent were day-trading accounts, indicating that the practice has become popular among investors, the commission said.
Photo: Chen Rou-chen, Taipei Times
The ratio of day trading accounts to overall stock-trading accounts tallied 11.07 percent last year, up from 9.58 percent in 2019 and 8.37 percent in 2018, data showed.
Day-trading transactions made up about 40 percent of all transactions last month, up from 30 percent a year earlier, Taiwan Stock Exchange data showed.
Day trading has grown in popularity as investors seek to profit on price spread amid a rosy stock market, while it could also be attributed to an extension of a tax cut on day-trading transactions, a commission official said by telephone on Wednesday.
Day trading can be risky, especially for investors who are not familiar with their targeted stocks or who make investment decisions based on hearsay or opinions, the official said.
Taiwan’s foreign exchange reserves fell below the US$600 billion mark at the end of last month, with the central bank reporting a total of US$596.89 billion — a decline of US$8.6 billion from February — ending a three-month streak of increases. The central bank attributed the drop to a combination of factors such as outflows by foreign institutional investors, currency fluctuations and its own market interventions. “The large-scale outflows disrupted the balance of supply and demand in the foreign exchange market, prompting the central bank to intervene repeatedly by selling US dollars to stabilize the local currency,” Department of Foreign
Intel Corp is joining Elon Musk’s long-shot effort to develop semiconductors for Tesla Inc, Space Exploration Technologies Corp and xAI, marking a surprising twist in the chipmaker’s comeback bid. Intel would help the Terafab project “refactor” the technology in a chip factory, the company said on Tuesday in a post on X, Musk’s social media platform. That is a stage in the development process that typically helps make chips more powerful or reliable. The chipmaker’s shares jumped 4.2 percent to US$52.91 in New York trading on Tuesday. The Terafab project is a grand plan by Musk to eventually manufacture his own chips for
Taiwan Power Co (Taipower, 台電) yesterday said it plans to resume operations at two coal-fired power generators for three months to boost security of electricity supply as liquefied natural gas (LNG) supply risks are running high due to the Middle East conflict. The two coal-fired power generators are at Mailiao Power Plant in Yunlin County’s Mailiao Township (麥寮). The plant, operated by Formosa Plastics Group (台塑集團), supplied electricity to Taipower’s power grid until the end of last year. Taipower’s decision came about one month after Minister of Economic Affairs Kung Ming-hsin (龔明鑫) on March 10 said that the nation had no imminent
ENERGY ISSUES: The TSIA urged the government to increase natural gas and helium reserves to reduce the impact of the Middle East war on semiconductor supply stability Chip testing and packaging service provider ASE Technology Holding Co (日月光投控) yesterday said it planned to invest more than NT$100 billion (US$3.15 billion) in building a new advanced chip testing facility in Kaohsiung to keep up with customer demand driven by the artificial intelligence (AI) boom. That would be included in the company’s capital expenditure budget next year, ASE said. There is also room to raise this year’s capital spending budget from a record-high US$7 billion estimated three months ago, it added. ASE would have six factories under construction this year, another record-breaking number, ASE chief operating officer Tien Wu
RSS