Stock market

GTSM index vacillated in the vicinity of 60 points in the month of December. In the beginning of the month amid uncertainty in the U.S. stock markets, general want of interest in electronic stocks and the market in watch mood, the index lacked the momentum to lift itself. From the 8th on after the U.S. stocks jumped two days in a row, the index started to rise and the market turnover expanded, driven by the strong performance of the ID design, DRAM and solar energy stocks. But the index dropped sharply on the 12th as the bailout of the U.S. auto industry hit a snag that dragged down all Asian stock markets. In the last ten days of December, there were quite a few bullish news on the market, including the launch of direct daily flight and ocean freight services across Taiwan Strait, expected government relief for the DRAM industry, and further rate cut by the U.S. FED. But the index turned stagnant with sluggish turnover as market sentiment remained weak and foreign institutional investors stayed out of the market during the long Christmas and New Year holidays. The index closed at 64.37 at the end of the month, up 6.36% from the end of November.

In the Emerging Stock Market, the average daily turnover amounted to NT$177 million and a total of 34,922 transactions executed in the month of December. At the beginning of month, there were 236 stocks registered as emerging stocks, which was decreased to 233 by the end of month as 7 stocks transferred to the general board of GTSM or TSE or were delisted, and 4 new stock registered. The market recorded the highest turnover of the month on the 31st with more than NT$298 million.