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Taiwan shares gain nearly 12% in 2013

Taiwan shares gain nearly 12% in 2013

Taipei, Dec. 31 (CNA) Shares on the Taiwan Stock Exchange closed lower at 8,611.51 Tuesday, the last trading session of the year, but the weighted index registered an 11.85 percent rise for the whole year. The Taiex climbed 912.01 points, or 11.85 percent, in 2013, leading the gains in the Asian markets, including South Korea, China, Hong Kong and the ASEAN countries. It means that investors in the Taiwan market on average saw profits of NT$300,000 (US$9,992) per person. In a strong gaining streak toward the end of the year, the Taiex rose 438 points in the fourth quarter, a 5.3 percent gain from the third quarter. The performance of the markets in many emerging countries in Asia was comparatively sluggish in 2013, due mainly to a flight of capital to advanced nations. Given the weak showing in those countries, Taiwan's stock market stands a good chance of challenging the 8,800 mark soon and turnover is likely to exceed NT$100 billion in January 2014, according to Simon Liu, vice president of Yuanta Polaris International's Securities Investment Trust Department. Liu estimated Taiwan's 2013 economic growth at 2 percent and forecast that it may rise over 3 percent in 2014 as the global economy picks up. Hsu Kao-ming, a vice manager at KGI Securities Investment Advisory Co., said the overall stability of the local stock market signals a brilliant performance in the first half of January in 2014. The main board could reach 9,000 points, he said. Shares of the solar energy, LED, 4G Internet communications, electronics and automobile sectors are good investment targets for next year, Hsu said. (By Maranda Hsu, Tien Yu-pin, Pan Chi-i and Y.L. Kao)


Updated : 2021-04-13 16:45 GMT+08:00