Stock trading accounts hit fresh high as Taiex stages strong rebound

Taipei, Sept. 1 (CNA) The number of accounts created to trade in the local stock market continued to hit a new high at the end of August as the Taiex, the Taiwan Stock Exchange's (TWSE) benchmark index, staged a significant rebound in the month, the exchange said Tuesday.

Data compiled by the TWSE indicated about 14.70 million trading accounts had been opened as of the end of August, up 91,429 from the end of July, as the Taiex bounced back by 3,008.72 points, or 6.98 percent, after slumping 6.52 percent a month earlier, which attracted more investors to jump onto the trading floor.

The local main board fared well in August, returning to the 46,000-point mark as bargain hunters turned active to pick up stocks hammered by concerns over massive AI investments and by deleveraging among tech stocks a month earlier.

Of the new trading accounts opened in August, the number owned by investors aged 19 and under totaled 40,214, the highest increase among all age groups in Taiwan, while the number of trading accounts opened by investors aged 20-30 in August grew 24,032 in the month, the TWSE's data indicated.

Investors aged 30 and under accounted for 70.26 percent of the total new trading accounts opened in August, indicating the local stock market continued to trend toward a younger demographic, especially with many parents starting to help their children set up financial plans in advance.

As of the end of August, investors aged 19 and under had 868,888 trading accounts, up 40,214 from July, those aged 20-30 had 1.91 million trading accounts, up 24,032, and those aged 31-40 had 2.38 million trading accounts, up 9,989.

Those in the 41-50 age group had 2.73 million trading accounts as of the end of August, up 9,218 from July, while those aged 51-60 had 2.41 million trading accounts, up 5,401, and those aged 61 and above had 4.28 million trading accounts, up 1,267.

As of the end of August, institutional investors owned 117,759 trading accounts, up 1,308 from a month earlier, the TWSE said.