By Kao Shih-ching / Staff reporterCapital Securities Corp (群益金鼎證券) has an upbeat outlook regarding local shares next year, and expects the TAIEX to hit 13,000 points on the back of an improving economy, repatriated funds and the launch of a new continuous trading system. The TAIEX has slid slightly after it closed at 11,656.4 points on Nov. 19 — the highest closing level in the past 29 years. The index ended 0.12 percent higher at 11,502,83 points yesterday on turnover of NT$113.270 billion (US$3.71 billion), Taiwan Stock Exchange data showed. While investors are eager to know if the TAIEX is likely to surpass 12,682 points, the all-time high recorded in 1990, it would mainly depend on the performance of the US stock market as the local stock market is highly sensitive to its movenemts, Tseng said. Given that US President Donald Trump is likely to use policies to support the US stock market before the presidential election next year, the TAIEX might have a change of hitting 13,000 points, Tseng said.
