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Local equity investors earn over NT$400,000 on average in horse year

Local equity investors earn over NT$400,000 on average in horse year

Taipei, Feb. 13 (CNA) A strong showing in the local bourse over the Year of the Horse -- which started on January 31, 2014 -- allowed equity investors to earn more than NT$400,000 (US$12,698) on average, according to statistics compiled by the Taiwan Stock Exchange (TWSE). The weighted index on the main board through Friday, the last trading session of the Horse Year, rose 1,066.94 points or 12.6 percent to close at 9,529.51. Trading will resume on Feb. 24 in the Year of the Goat. Solid gains over the Horse Year pushed a market capitalization of the main board by NT$3.85 trillion. Based on the number of 9.43 million equity trading accounts in the equity market, investors here were estimated to post about NT$408,400 in gains from their equity investments. Based on Taiwan's population of 23 million, wealth per capita increased some NT$167,500 on average through the gains in local shares. The bellwether electronics sector scored the highest gains among the eight major sectors in the market in the year, with the sub-index up 23.44 percent, market analysts said. Among the gaining high-tech stocks, smartphone camera lens supplier Largan Precision Co. (???) gained 132 percent. On Friday, the stock closed at NT$2,705.00, up from NT$1,165.00 on Jan 27, 2014, the last trading session before the start of the Horse Year. Largan is the most expensive stock in the local market. Strong institutional interest in Largan over the year reflected optimism toward the company, which is one of the most important suppliers to Apple Inc. In 2014, Largan posted NT$144.85 in earnings per share (EPS), up sharply from NT$71.64 recorded a year earlier. Taiwan Semiconductor Manufacturing Co. (???), the most heavily weighted stock in the local market, rose more than 41 percent during the year to close at NT$148.50 on Friday, also on the back of its strong bottom line resulting from solid demand for chips made on its high-end 28 nanometer and 20nm processes. Over 2014, TSMC raked in NT$10.18 in EPS, compared with NT$7.26 recorded a year earlier. Based on Friday's closing level, TSMC boasted a market capitalization of NT$3.85 trillion, up more than NT$1 trillion from a year ago, the largest amount in the local equity market. (By Tien Yu-pin, Jackson Chang and Frances Huang)


Updated : 2021-09-22 17:03 GMT+08:00