Taiwan Stocks See Wild Swings: Top Director Zhang Zhenshan Remains Bullish, Citing a Thriving Business Economy
Taiwan Stock Market Falls Amid Poor US Non-Farm Payrolls Data
The US non-farm payrolls data was poor, causing a sharp decline in US stocks and dragging Taiwan’s stock market down more than 500 points in early trading. The market ended down 290.75 points.
Taiwanese stocks were led lower by TSMC earlier today, although the index fell below 20922.17 points on September 4. Buying came into the market in the second half, and the fall consolidated at 21144.44 points, down 290.75 points or 1.36%, with a transaction of NT$302.482 billion.
Zhang Zhenshan, director of the Securities Futures Commission of the Financial Supervisory Commission, expressed confidence, saying, “The fundamentals have not changed, and I think that’s pretty good.”
The Financial Supervisory Commission and the Securities Futures Bureau noted that the number of new non-farm jobs in the United States in August was less than expected, causing the four main US stock indexes to fall. However, Asian Stocks rose at the end of trading in Taiwan.
Taiwan stocks fell 1.36% today, while Singapore rose 0.99%, South Korea fell 0.26%, Japan 0.77%, Shanghai 1.03%, and Hong Kong 1.79%.
The Securities and Futures Bureau reported that as of September 6 this year, Taiwan’s stocks rose 19.54%, compared to Japan’s 8.75% increase, Singapore’s 6.61% increase, Hong Kong’s 2.33% decrease, South Korea’s 4.18% decrease, Shanghai’s 7.03% decrease, and Shenzhen fell 14.63%. The US Dow Jones rose 7.05%, and Taiwan’s stock market rose the most among major Asian stock markets.
In terms of volume and strength, as of September 6 this year, the average daily trading volume of Taiwan’s stock market reached 433.135 billion yuan, an annual increase of 55.14%.
The Securities and Futures Bureau reported that as of the end of August this year, the platform’s equity-to-earnings ratio was 21.71 times, the cash profit margin was 2.43%, and the total stock dividend was 2.54%. In the seven months of this year, the cumulative revenue of domestic listed OTC companies reached 23.86 trillion yuan, which was the second highest in the same period, with an annual growth of 11.69%.
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