2011 Taiwan Market Report

Transcription

1 Taiwan Market Report Chairman, Dr. Min-Juh Hwang Taiwan Securities Association September 29, 2011 Passion.Profession.Efficiency. Innovation

2 AGENDA 2 Ⅰ Macroeconomic Overview Ⅱ Outline of Taiwan s Capital Market Ⅲ The Forecast of Taiwan s Capital Market & Trends and Projections of Regulatory Policy

3 Ⅰ. Macroeconomic Overview

4 4 Stable Economic Recovery

5 Both exports and imports value showed robust performances 5

6 China Has Become an Increasingly 6 Important Trade Partner

7 Domestic Consumption continues to recover 7

8 Private investment soared by 12.40% in Q

9 Taiwan Stock Exchange Index 9 12,000 9,000 Oct. 29 9, , July.29 6,000 3,000 Nov

10 Ⅱ. Outline of Taiwan s Capital Market

11 11 Turnover Rate Has High Ranking of The Asia region Year Taiwan New York Tokyo London Hong Kong Unit: % Korea Singapore Shanghai

12 12 Market Cap to GDP Ratio is Comparable to the Developed Markets ,000 1,200 1,400 Hong Kong Exchanges Singapore Exchange Taiwan SE Corp. Bursa Malaysia London SE *SSHK Korea Exchange NYSE Group Thailand SE Tokyo SE Shanghai SE Deutsche Börse Nasdaq Shenzhen SE Source: Taiwan Stock Exchange MKT CAP/ 2010 GDP 2011 MKT CAP/ 2010 GDP 1, ,258.2 Unit:%

13 13 Technology Stocks Accounts for More Than 50% of Total MKT Value 20, % 64.89% 52.19% 57.07% 56.09% 55.35% 56.08% 70% 60% 15, % 52.28% 47.59% 51.58% 51.79% 50% 40% 32.91% 10,000 30% 20% 5, % 2.70% 10% Total Mkt Cap (NTD Billion) % Unit: Billion NT. 0%

14 No. of listing Market Value 14 Total MKT CAP of 763 companies listed on TWSE Amounted US$797 BN. at June 2011 TWSE listing Companies and Market Capitalization 1, June No. of listing Market Capitalization(US$ Billion) 0

15 873 Firms with Total MKT CAP US$94BN. were listed on The General Board & Emerging Market Board of GTSM at June GTSM and Emerging Stock No. & Market Cap June 0 GTSM stock No. GTSM stock Market Cap.(US$ Billion) Emerging Stock No. Emerging Stock Market Cap.(US$ Billion)

16 Bond Market scale growth steady Jun Total Amount (US$ Billion)

17 Futures Market , ,000 Taiwan Futures Market : Total Trading Volume 136, , , , , , ,000 92,660 80,000 60,000 59,146 40,000 31,875 20, ,927 4,351 7, Total Trading Volume Unit: thousand lot Source: Taiwan Futures Exchange

18 Ⅲ. The Forecast of Taiwan s Capital Market

19 Internationalization of Capital Market Foreign Investors Continue To Increase Involvement In Taiwan s Security Market 16.25% 34.01% 24.37% Unit:% 31.19% 33.55% 18.4% 20.50% % Foreign Investors Holding Proportion Foreign Investors Trading Proportion Source: Taiwan Stock Exchange

20 Internationalization of Capital Market 20 Taiwan signs IOSCO MMoU Financial regulator signs MOU with Luxemburg Securities and Exchange Act Revision to boost Adoption of IFRS

21 Closer Exchange Across the Taiwan Strait 21 Cross-strait Financial Market Opens More Widely Renminbi business rules relaxed for OBUs Government opens sub-brokered trading in mainland Chinese securities

22 Regional Funding-Raising Platform 22 Measures to promote Taiwan market listing by hi-tech and innovative firms Revision of rules for primary market listing by overseas technology enterprises, providing more liberal listing qualifications for technology firms than for other companies. This will encourage overseas technology enterprises to list and raise funds in Taiwan. Establishment of a Hi-Tech Enterprise Information Disclosure Zone website that makes it easier for investors to obtain financial and business information on technology enterprises. Risk-warning information is included to help investors understand the high-risk nature of technology enterprises. Cooperation by the Taiwan Stock Exchange and GreTai Securities Market with securities dealers and venture capital companies to attract foreign companies with key technology to list in Taiwan. Holding of overseas promotion seminars by the Taiwan Stock Exchange and GreTai Securities Market to publicize the advantages of Taiwan s capital market and the benefits of listing in Taiwan by technology enterprises.

23 23 Conclusion

24 Taiwan Securities Association 24 Enhance cross-strait securities exchange; actively assist securities firms developing Chinese market. Securities Market Efficiency Improvement Enhancement of Self-Regulation of Securities Firms Uplift International Competitiveness of Securities Firms