Foreigners sold a record NT$1.23 trillion of shares last yearBy Chen Cheng-hui / Staff reporterForeign institutional investors last year sold a net NT$1.23 trillion (US$40.07 billion) of local shares, the highest amount on record, after selling a net NT$23.82 billion in the final week of the year, the Taiwan Stock Exchange said in a statement yesterday. The exchange’s data showed that they sold a net NT$454.09 billion in 2021 and a net NT$539.52 billion in 2020. Photo: CNALast year, the market capitalization of shares held by foreign investors was NT$17.49 trillion, accounting for 39.56 percent of total market capitalization, the exchange said. Shares in financial holding firms faced huge selling pressure last year due to increased volatility in the global stock and bond markets amid central banks’ monetary tightening. Surging COVID-19 insurance claims in Taiwan were another negative factor for some financial holding firms, such as Shin Kong Financial, Fubon Financial and Cathay Financial Holding Co (國泰金控), that count insurance business as one of their major sources of earnings.

Source: Taipei Times January 04, 2023 21:27 UTC