Local bourse expected to perform better in 2013: TWSE chairman
The China Post news staffTAIPEI, Taiwan -- Taiwan Stock Exchange Corp. (TWSE, 台灣證交所) Chairman Schive Chi said yesterday that he expects the stock market to perform better in the coming year, citing improvements in forecasted economic indicators.
December 30, 2012, 12:11 am TWN
“Due to the effects of numerous external factors, the performance of the stock market was lackluster this year,” he said.
Schive added that policy measures such as the allowing of offshore security units (OSU) will help improve overall market conditions. Currently, foreign investments average roughly US$20 billion yearly, and if OSU models are allowed, brokerages will see significant revenue boosts, said Schive, adding that brokerage firms should increase salaries in response.
Brokerages, however, said that unless they can utilize the OSU model to gain access to international securities markets, the improvement to the TWSE's trade volume will be limited.
Responding to the public's concern over the cessation of state-owned funds market stabilization measures, Schive stated that the Executive Yuan (行政院) has many stimulus programs and policies in place for the year ahead, urging the public to remain optimistic.