Number of equity investors hits new high at end of August

Taipei, Sept. 3 (CNA) The number of people with accounts to trade stocks in Taiwan hit a new high of over 13 million at the end of August despite market volatility in the month amid worries over the U.S. economy, the Taiwan Stock Exchange (TWSE) said Tuesday.

Data compiled by the TWSE showed the number of those who had a stock trading account as of the end of August totaled about 13.06 million, marking the first time the number topped 13 million.

The number of investors rose about 75,400 from a month earlier in August, even though the stock market faced headwinds in the month, the data indicated.

The number rose 538,800 or 4.3 percent from the end of last year, according to the TWSE.

In early August, the Taiex, the weighted index on the Taiwan Stock Exchange, took a beating, plunging 2,811.22 points, or 12.42 percent falling below the 20,000 point mark, in two trading sessions -- Aug. 2 and Aug. 5 -- amid concerns over a possible recession in the United States.

However, the Taiex soon regained its footing, soaring 2,605.35 points or 13.25 percent from the intraday low of 19,662.74 seen on Aug. 6 to close at 22,268.09 at the end of August.

In August, the main board rose 0.31 percent, while the index surged 24.19 percent in the first eight months of this year.

When the TWSE started to release data about the number of investors in March 2021, the number stood at 11.45 million. It topped the 12 million mark for the first time in November 2022 and topped 13 million at the end of August.

The TWSE said the number of investors aged below 30 hit 2.21 million at the end of August, accounting for 19.66 percent of total investors, compared with 1.49 million or 13 percent in March 2021, indicating more and more people from the young generation were willing to jump onto the trading floor.

At the end of August, investors aged 19 or younger made up 4.23 percent of the total, investors aged 20-30 made up 12.76 percent, the 31-40 age group represented 16.43 percent, and 41-50 accounted for 19.34 percent, the TWSE said.

The TWSE said investors aged 51-60 made up 17.57 percent of the total with investors aged over 60 accounting for 29.19 percent and institutional investors representing 0.8 percent at the end of August.