Taipei--The Taiwan Capitalization Weighted Stock Index (TAIEX), the benchmark index on the main board, closed above the 9,000-point mark at the end of the Year of the Monkey for the fourth time in a lunar year since 2000, according to the Taiwan Stock Exchange (TWSE).
On Jan. 24, the last trading day of the Year of the Monkey, the weighted index closed at 9,447.95 points, up 1,384.95, or 17.18 percent, from Feb. 3, 2016, the last trading day of the Year of the Goat.
The solid gains largely came from aggressive buying by foreign institutional investors as they rushed to move funds into the region to take advantage of the strength of regional currencies against the U.S. dollar at a time when the Federal Reserve had maintained a loose monetary policy.
The closing level at the end of the Year of the Monkey marked the fourth time the index had ended above 9,000 points on the lunar calendar in 17 years.
On Feb. 1, 2000, the last trading day of the Year of the Rabbit, the weighted index ended at 9,856.39 points.
On Jan. 28, 2011, the last trading session of the Year of the Tiger, the weighted index closed at 9,145.35 points.
On Feb. 13, 2015, the last trading day of the Year of the Horse, the weighted index ended at 9,529.51 points.
Due to the strong showing in the Year of the Monkey, market capitalization of the local main board rose about NT$4.17 trillion (US$133 billion) or 17.57 percent, from a year earlier to NT$27.89 trillion.
The increase in market cap during the year allowed investors to rake in about NT$424,100 in profit on average in the year, market statistics show.
Trading of the local main board is scheduled to resume Feb. 2, the sixth day of the Year of the Rooster.
In the past 20 years, the TWSE said, the local main board has risen on the first trading day after the Lunar New Year holiday for 15 years with falls in the other five years.
During the 20-year period, the weighted index posted the largest increase of 274.44 points, or 4.73 percent, on the first trading day of the Year of the Rabbit in 1999, while the index fell by the largest scale of 181.58 points or 3.62 percent on the first trading day of the Year of the Goat in 2003.
Source: Focus Taiwan News Channel