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 Stock market The GTSM index succumbed to the pervasive bear pressure and lost considerable ground in the month of June. In the beginning of the month, the index edged up two days in a row. But starting from the 5th, the domestic political turmoil and falling US stock markets in the face of pending interest rate hike led to a selling spree on the market. Panic selling prevailed and the index dropped steeply by 11.66% in four consecutive sessions. The losing streak stopped from the 9th, but the market turnover was flat in the absence of any encouraging news and the index vacillated in a narrow range. The slide of index again exacerbated from the 19th on as the domestic political unrest continued and major foreign stock markets fell sharply, hitting its lowest point of the year on the 21st with 118.97 points. From the 22nd on bolstered by the sharp rise of US stocks, the positive news of cross-strait chartered flight plan being finalized by the Mainland Affairs Council, and the strong showing of high-priced electronic stocks, including E-Ton Solar and Motech, investors gradually regained confidence. The index rebounded to close higher seven sessions straight and closed at 131.04 for the month, losing 11.36 points or 7.98% from the end of May. In the Emerging Stock Market, the average daily turnover amounted
to NT$447 million and a total of 30,994 transactions executed in the
month of June. At the beginning of month, there were 236 stocks registered
as emerging stocks, which was decreased to 232 by the end of month
as 5 stocks transferred to the general board of GTSM or TSE, or were
delisted, and 1 new stock registered. The market recorded the highest
turnover of the month on the 1st with more than NT$2,115 million. |
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