Taiex market cap tops NT$66 trillion; average 2024 earnings hit NT$740,000

Taipei, May 13 (CNA) With the benchmark index closing at a new high Monday, market capitalization on the local main board surpassed the NT$66 trillion (US$2.04 trillion) mark for the first time, according to the data compiled by the Taiwan Stock Exchange (TWSE).

Riding the waves of the uptrend, investors have earned an average of NT$740,000 this year, the data showed.

On Monday, the Taiex, the weighted index on the TWSE, rose 148.87 points, or 0.72 percent to close at a new high of 20,857.71, following hitting a historic intraday high of 20,993.28.

Friday's gains came after contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock in the local market, rose 2.12 percent to close at NT$819.00 after hitting a high of NT$825.00 following its April sales report and an increase in cash dividend payouts.

TSMC's gains contributed about 140 points to the Taiex rise Friday, while many tech stocks appeared mixed in the day.

Since the beginning of this year, the Taiex has soared 2,926.90 points, or 16.32 percent, pushing up market capitalization by NT$9.53 trillion to about NT$66.37 trillion.

As of the end of April, the number of investors on the main board had hit 12.78 million, TWSE data showed. Based on the number, investors have earned about NT$740,000 each on average this year.

TSMC has dominated the broader market in recent trading sessions amid optimism about emerging technologies such as artificial intelligence development and high-performance computing (HPC) devices.

Since the beginning of this year, TSMC shares have jumped NT$226.00 or 38.11 percent, sending its market value higher by NT$5.86 trillion to NT$21.24 trillion as of Monday.

TSMC has accounted for more than 60 percent of the Taiex's market cap growth so far this year, Taiex data showed.

Investors would have earned an average of NT$286,000 so far this year if it were not for TSMC, according to the data.

As of Monday, iPhone assembler Hon Hai Precision Industry Co. was in second as its market cap hit NT$2.35 trillion, ahead of smartphone IC designer MediaTek Inc. (NT$1.78 trillion), contract notebook computer maker Quanta Computer Inc. (NT$1.06 trillion), and telecom services provider Chunghwa Telecom Co. (NT$981.32 billion).

Related News

May 13: Led by TSMC, Taiwan shares end at new high

May 13: TWSE-listed firms report over 18% year-on-year sales rise in April