Taipei, Nov. 5 (CNA) The value of foreign investors' holdings of Taiwan-listed stocks and bonds and Taiwan dollar-denominated deposits reached an historic high at the end of October, according to Taiwan's Central Bank Tuesday.
The foreign holdings totaled US$844.3 billion, representing 146 percent of foreign exchange reserves, the same as the level recorded in June, 2024, said Tsai Chiung-min (蔡炯民), head of the bank's Foreign Exchange Department.
High foreign holdings of Taiwan dollar assets indicate foreign investors are optimistic about the stock market, as it warmed up internationally in October, Tsai said.
Taiwan's stock market consists largely of technology stocks and is congruent with the Nasdaq index. Several U.S. firms had good financial reports, which boosted the market, he added.
As for the performance of the foreign exchange market, the Taiwan dollar held its ground against the appreciating U.S. dollar relatively well compared to other Asian currencies, Tsai said.
One reason supply and demand in the Taiwan dollar market were roughly balanced was that foreign investors remained moderate in their actions.
Meanwhile, Taiwan's foreign exchange reserves at the end of October fell for the second consecutive month to US$576.846 billion, a US$1.083 decrease from September, due to the Taiwan dollar falling against the U.S. dollar, despite gains made from investments using the the reserve, Tsai said.
- Society
No injuries reported after runaway bus crashes into Taipei store
11/05/2024 09:41 PM - Society
5 receive jail terms for stealing CPC diesel
11/05/2024 09:34 PM - Business
Foreign investor holdings of Taiwan stocks, deposits reach record high
11/05/2024 08:24 PM - Science & Tech
Taiwan-Japan co-developed satellite 'Onglaisat' launched into space
11/05/2024 07:44 PM - Society
Ex-cop acquitted in fatal shooting of passenger in fleeing car
11/05/2024 07:08 PM