The number of accounts created to trade on the local stock market reached a new high at the end of last month, as the TAIEX soared almost 60 percent in the first half of this year, data released on Wednesday by the Taiwan Stock Exchange (TWSE) showed.
There were about 14.49 million trading accounts on the exchange as of the end of last month, up 155,000 from the end of May and 720,156 from the end of last year, TWSE data showed.
During the first half of this year, the TAIEX surged 17,162.31 points, or 59.25 percent, to close at 46,125.91 on Tuesday, led by the bellwether electronics sector amid an artificial intelligence boom.
Photo: Ritchie B. Tongo, EPA
For the whole of last year, the benchmark index soared 25.73 percent.
Analysts have attributed the TAIEX’s strong performance to an increasing number of investors entering the market out of “fear of missing out.”
Accounts opened by investors older than 60 recorded the largest increase, rising by 251,804 in the first six months of this year to 4.27 million, which was also the highest number for any age group, TWSE data showed.
As of the end of last month, investors younger than 20 had 785,558 accounts, up 109,693 from the end of last year; those aged 20 to 30 had 1.85 million accounts, an increase of 68,171; and those aged 31 to 40 had 2.36 million accounts, up 122,620, the data showed.
Investors in the 41-to-50 age group had 2.7 million accounts as of the end of last month, up 95,144 from the end of last year, while those aged 51 to 60 had 2.4 million accounts, up 65,218, according to the data.
Institutional investors held 114,758 trading accounts as of the end of last month, up 7,506 from the end of last year, TWSE said.
The US Federal Communications Commission (FCC) on Friday said it would ban the import of more equipment from a group of Chinese manufacturers, the latest move by Washington to crack down on Chinese-made electronic gear. The move expands an FCC ban imposed in 2022 on new models of telecommunications and video surveillance equipment made by Huawei Technologies Co (華為), ZTE Corp (中興通訊), Hytera Communications Corp (海能達通信), Hikvision Digital Technology Co (海康威視) and Dahua Technology Co (大華科技), citing national security risks. The expanded ban includes old models, not just those designed starting in late 2022, of equipment used for “public safety, security of
Cathay United Bank Co (國泰世華銀行) chairman Kuo Ming-jian (郭明鑑) has resigned following a regulatory breach at the lender’s asset management affiliate linked to his outside positions, an incident that culminated in a physical altercation with a member of Taiwan’s billionaire Tsai family. “Mr. Kuo voluntarily decided to resign in light of the differing public opinions arising in recent days regarding his outside appointments to avoid creating negative public perceptions and to safeguard the company’s reputation,” Cathay Financial Holding Co (國泰金控), parent of Cathay United Bank, said in a statement yesterday. The resignation followed discussions between Kuo and Cathay Financial chairman Tsai Hong-tu
UNSURPRISING LEADER: TSMC led in both net profit and revenue this year, followed by other big names in the Taiwanese sphere of tech as well as finance Taiwan’s 5,000 largest companies posted a record high in aggregate net profit last year, up more than 11 percent from a year earlier, with contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) holding on as the country’s most profitable company amid the artificial intelligence (AI) boom, credit information agency CRIF Taiwan (中華徵信所) said on Wednesday. Strong global demand for AI applications continued to benefit Taiwan’s top 5,000 enterprises last year, CRIF said in a report. Their combined net profit totaled NT$5.77 trillion (US$181.1 billion), up 11.01 percent from a year earlier, while aggregate revenue hit a record high of NT$48.50 trillion,
The New Taiwan dollar, which is on track for its first quarterly gain in a year, may face renewed pressure as the US currency strengthens and local companies boost dividend payouts to a record. Domestic firms are set to pay out more than NT$2.5 trillion (US$78.5 billion) in cash dividends this year, according to data from the Taiwan Stock Exchange, the largest amount ever in Bloomberg-compiled data going back to 1990. Foreign-exchange conversions by overseas investors repatriating the funds are expected to add to near-term volatility in the local currency. “The Taiwan dollar could hit a rough patch in the coming weeks,
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