Taiwan Capitalization Weighted Stock Index
| Taiwan Capitalization Weighted Stock Index | |
|---|---|
| base data | |
| Country | Taiwan |
| Stock exchange | Taiwan Stock Exchange |
| ISIN | XC0009694149 |
| WKN | 969414 |
| symbol | TX |
| RIC | ^ TWII |
| Bloomberg code | TWSE <INDEX> |
| category | Stock index |
| Type | Price index |
| family | Single index |
Taiwan Capitalization Weighted Stock Index (abbreviated TAIEX , Chinese 加權 指數 / 加权 指数 , Pinyin Jiāquán zhǐshù ) is the leading index of the Taiwan Stock Exchange ( Chinese 臺灣 證券交易所 / 台湾 证券交易所 , Pinyin Táiwān Zhèngquànjiāoyìsuǒ ) in Taipei , which is made up of almost all stocks of the Republic of China (Taiwan) .
calculation
The TAIEX is the most important share index of the Taiwan Stock Exchange (TWSE) and comprises almost all stocks listed on the stock exchange. It reflects the development of the entire Taiwanese stock market. The index level is determined solely on the basis of share prices and only adjusted for income from subscription rights and special payments. The weighting is based on the market capitalization of the listed companies. Corporate actions such as stock splits have no (distorting) influence on the index. The calculation is updated every second during TWSE trading hours from 9:00 a.m. to 1:30 p.m. local time (2:00 a.m. to 6:30 a.m. CET ). The electronics industry has the largest share of the index at around 40 percent.
history
20th century
The TAIEX was first published on January 5, 1967. The base value is 100 points on December 31, 1966. By December 12, 1973, the TAIEX rose to a record level of 514.85 points. During the oil crisis of 1973 and the global recession of 1974, the leading Taiwanese index lost 63.3 percent. On December 21, 1974, the TAIEX closed at a low of 188.74 points.
As a result of Taiwan's successful development as an export country and the associated strengthening of the currency, capital flowed back to Taiwan from overseas Taiwanese in the early 1980s, but international interest in the Taiwanese stock exchange also increased. The opening of the market began in 1983, and efficient computer-aided trading systems were introduced in 1986/87. The following years were marked by speculative exaggerations. In some cases, price manipulation and companies in close relationships with underground organizations were also held responsible for this.
On October 17, 1986 the index closed for the first time above the limit of 1,000 points and on June 9, 1988 above the 5,000 point mark. The 10,000 point limit fell on June 19, 1989, when the TAIEX finished trading at 10,105.81 points. During the course of the speculative bubble , the index closed on February 10, 1990 at an all-time high of 12,495.34 points. The collapse of the market began when numerous underground organizations involved in price manipulation went bankrupt and came under pressure because of the tightened banking law of July 1989. On October 1, 1990, the TAIEX closed at 2,560.47 points, 79.5 percent below the all-time high of February 1990. It was the biggest fall in the history of the leading Taiwanese index.
In the following years the index rose again strongly. On August 26, 1997, the TAIEX finished trading at 10,116.84 points. Between 1997 and 1999 parts of the world suffered financial , currency and economic crises ( Asian crisis , Russian crisis , Brazilian crisis ). The crises made investors in Taiwan nervous and increased capital outflows. The stock market barometer sank to 5,474.79 points by February 5, 1999. That was a decrease of 45.9 percent since August 1997. From spring 1999 the index began to rise again. On February 19, 2000, the leading Taiwanese index ended trading at 10,202.20 points. The profit since August 1997 is 86.4 percent.
21st century
After the speculative bubble burst in the technology sector ( dotcom bubble ), the TAIEX fell to a low of 3,446.26 points by October 3, 2001. That was a decrease of 66.2 percent since February 2000. October 3, 2001 marked the end of the downward trend. From autumn 2001, the Taiwanese leading index was on the way up again. On October 29, 2007 the TAIEX closed at 9,809.88 points. Since October 2001 the profit has been 184.6 percent.
In the course of the international financial crisis , which had its origins in the US real estate crisis in summer 2007, the stock market barometer began to decline again. From the third quarter of 2008, the crisis increasingly affected the real economy. As a result, share prices collapsed worldwide. On October 17, 2008, the index closed at 4,960.40 points, below the limit of 5,000 points. The TAIEX hit a new low on November 20, 2008, when it closed trading at 4,089.93 points. This corresponds to a decrease of 58.3 percent since October 29, 2007.
November 20, 2008 marks the turning point in the downward trend. From autumn 2008 the index was on the way up again. By January 28, 2011 it rose by 123.6 percent to a closing level of 9,145.35 points. The weakening of the global economy and the worsening of the euro crisis led to a slump in the Taiwanese benchmark index. On December 19, 2011, the TAIEX ended trading at 6,633.33 points. The loss since the peak on January 28, 2011 is 27.5 percent.
Highs
The overview shows the all-time highs of the TAIEX.
| Points | date | |
|---|---|---|
| in the course of trading | 12,682.41 | Monday February 12, 1990 |
| on a closing price basis | 12,495.34 | Saturday February 10, 1990 |
Milestones
The table shows the milestones of the TAIEX since 1966.
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Annual development
The table shows the annual development of the TAIEX since 1966.
| year | Final score in points |
Change in points |
Change in% |
|---|---|---|---|
| 1966 | 100.00 | ||
| 1967 | 105.76 | 5.76 | 5.76 |
| 1968 | 106.63 | 0.87 | 0.82 |
| 1969 | 110.30 | 3.67 | 3.44 |
| 1970 | 123.38 | 13.08 | 11.86 |
| 1971 | 135.13 | 11.75 | 9.52 |
| 1972 | 228.03 | 92.90 | 68.75 |
| 1973 | 495.45 | 267.42 | 117.27 |
| 1974 | 193.06 | −302.39 | −61.03 |
| 1975 | 330.08 | 137.02 | 70.97 |
| 1976 | 372.20 | 42.12 | 12.76 |
| 1977 | 450.44 | 78.24 | 21.02 |
| 1978 | 532.43 | 81.99 | 18.20 |
| 1979 | 549.55 | 17.12 | 3.22 |
| 1980 | 558.45 | 8.90 | 1.62 |
| 1981 | 551.03 | −7.42 | −1.33 |
| 1982 | 443.57 | −107.46 | −19.50 |
| 1983 | 761.92 | 318.35 | 71.77 |
| 1984 | 838.07 | 76.15 | 9.99 |
| 1985 | 835.12 | 2.88 | 0.34 |
| 1986 | 1,039.11 | 203.99 | 24.43 |
| 1987 | 2,339.86 | 1,300.75 | 125.18 |
| 1988 | 5,119.11 | 2,779.25 | 118.78 |
| 1989 | 9,624.18 | 4,505.07 | 88.00 |
| 1990 | 4,530.16 | −5,094.02 | −52.93 |
| 1991 | 4,540.55 | 10.39 | 0.23 |
| 1992 | 3,377.06 | −1,163.49 | −25.62 |
| 1993 | 6,070.56 | 2,693.50 | 79.76 |
| 1994 | 7,111.10 | 1,040.54 | 17.14 |
| 1995 | 5,158.65 | −1,952.45 | −27.46 |
| 1996 | 6,933.94 | 1,775.29 | 34.41 |
| 1997 | 8,187.27 | 1,253.33 | 18.08 |
| 1998 | 6,418.43 | −1,768.84 | −21.60 |
| 1999 | 8,448.84 | 2,030.41 | 31.63 |
| 2000 | 4,743.94 | −3,704.90 | −43.85 |
| 2001 | 5,551.24 | 807.30 | 17.02 |
| 2002 | 4,452.45 | −1,098.79 | −19.79 |
| 2003 | 5,890.69 | 1,438.24 | 32.30 |
| 2004 | 6,139.69 | 249.00 | 4.23 |
| 2005 | 6,548.34 | 408.65 | 6.66 |
| 2006 | 7,823.72 | 1,275.38 | 19.48 |
| 2007 | 8,506.28 | 682.56 | 8.72 |
| 2008 | 4,591.22 | −3,915.06 | −46.03 |
| 2009 | 8,188.11 | 3,596.89 | 78.34 |
| 2010 | 8,972.50 | 784.39 | 9.58 |
| 2011 | 7,072.08 | −1,900.42 | −21.18 |
| 2012 | 7,699.50 | 627.42 | 8.87 |
| 2013 | 8,611.51 | 912.01 | 11.85 |
| 2014 | 9,307.26 | 695.75 | 8.08 |
| 2015 | 8,338.06 | −969.20 | −10.41 |
| 2016 | 9,253.50 | 915.44 | 10.98 |
| 2017 | 10,642.86 | 1,389.36 | 15.01 |
| 2018 | 9,727.41 | −915.45 | −8.60 |
| 2019 | 11,997.14 | 2,269.73 | 23.33 |
Web links
Individual evidence
- ^ Sarah Kirchberger: The Taiwanese stock market: Development and regulation of an "emerging market" in East Asia. ( Memento of the original from July 27, 2007 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF file; 153 kB) in: China aktuell 7/2001, pp. 747–761
- ↑ a b Taiwan Stock Exchange: Historical prices since 1967 ( Memento of the original from October 17, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ a b c Stooq: Historical prices from 1995
- ↑ Yahoo: Historical prices from 1997
- ↑ 1Stock1: TAIEX (Taiwan) Yearly Returns
- ↑ TWII Index (Taiwan) Yearly Stock Returns. Retrieved December 13, 2019 .
