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Foreign stock investors buy net of over NT$350 billion in 2014

Foreign stock investors buy net of over NT$350 billion in 2014

Taipei, Jan. 1 (CNA) Foreign institutional investors bought a net of over NT$350 billion (US$11.04 billion) worth of local shares on the main board in 2014, according to the Taiwan Stock Exchange (TWSE). The TWSE said that strong foreign institutional interest boosted the net buy to NT$354.63 billion for the year, serving as one of the most important drivers for the gains posted by the local bourse as major central banks, particularly the U.S. Federal Reserve, pumped large funds into the global market. In 2014, the weighted index on the main board rose 695.75 points or 8.08 percent from the previous year. The last trading session of the year on Wednesday saw the index close up 38.83 points, or 0.41 percent, at the day's high of 9,307.26 on late buying in select large-cap stocks, making the year-end closing level the highest in 25 years. During the year, the index hit a high of 9,569.17 points at the close on July 15. It had its yearly low of 8,264.48 at the end of the Feb. 5 session, meaning a fluctuation of 1,304.69 points over the year. The FTSE TWSE Taiwan 50 Index, which includes the top 50 large-cap companies such as Taiwan Semiconductor Manufacturing Co., gained 850.38 points or 14.48 percent from a year earlier to close at 5,874.17 points. The index is among the most watched by foreign institutional investors. The Formosa Stock Index, which covers the listed companies on the main board and the over-the-counter market, gained 435.94 points or about 4.2 percent from May 5, when it was first launched, to close at 10,809.42 points at the end of the year. The semiconductor sector enjoyed the largest gains of 29.63 percent over the year, while the glass/ceramic sector suffered the steepest decline of 24.03 percent, the TWSE said. Accumulated turnover on the main board during the 248 trading sessions of 2014 totaled NT$23.42 trillion, up 17.54 percent from the NT$19.60 trillion recorded a year earlier, the exchange said. The average daily turnover for 2014 stood at NT$92.91 billion, compared with NT$79.69 billion seen the previous year, the TWSE said. As of the end of Dec. 31, the capitalization of the main board hit NT$26.88 trillion, up NT$2.36 trillion or 9.61 percent from the year before. (By Tien Yu-pin and Frances Huang)


Updated : 2021-09-19 13:02 GMT+08:00