TAIPEI and RIYADH, Saudi Arabia, Oct. 21, 2024 /PRNewswire/ — In a strategic initiative to attract foreign investment, Taiwan Stock Exchange (TWSE) Chairman & CEO Sherman Lin led a delegation to the Middle East from October 11 to 19. The delegation engaged with stock exchanges, sovereign wealth funds, asset managers, and custodian banks in Qatar, Saudi Arabia, and the United Arab Emirates. This landmark visit to engage with key institutional investors, the first since 2007, aimed to showcase Taiwan’s capital market strengths and growth potential.
Fostering stronger bilateral investment relations, the delegation provided investors in the Middle East with in-depth insights into Taiwan’s market value and potential.
Chairman Lin highlighted the latest advancements in Taiwan capital market, particularly the surge in the AI industry this year, which has significantly boosted the market value and trading volume of Taiwan capital market. Taiwan’s semiconductor industry, a cornerstone of the global AI supply chain, was also emphasized, positioning the Taiwan capital market as a focal point for international investors.
In addition to engaging with institutional investors, the TWSE team visited several Middle Eastern stock exchanges to share Taiwan’s successful experiences in supporting fundraising activities for new economy industries in the capital market, particularly in the areas of exchange-traded funds (ETFs) and ESG performance. With the recent unveiling of the “Asian Asset Management Center” project by the Taiwan government, the TWSE plans to actively introduce more active and multi-asset ETF products and cross-border dual listing schemes. This visit also aimed to strengthen cooperation and explore the joint development of new ETF products and other financial activities.
Speaking on a panel at the J.P. Morgan Middle East Forum in Riyadh, Chairman Lin highlighted the key role of Taiwan in the global AI supply chain, innovation in Taiwan capital market and growth potential of the ETF market, underscoring Taiwan’s competitive edge in the global economy.
Sherman Lin, TWSE Chairman & CEO, commented: “Since 2020, Taiwan’s market capitalization has doubled, reaching USD 2.2 trillion. Taiwan’s aggressive investments driven by AI innovation and the strong development of the local ETF market has contributed substantially to the market capitalization increase.”
“With the AI-driven development of Taiwan’s ICT industry and the future launch of active and multi-asset ETFs under the government’s Asian Asset Management Center project, Taiwan capital market is poised to attract more international investors,” added Chairman Lin.
Chairman Lin also noted that sustained foreign interest has been a key driver behind Taiwan’s upward trend in stock prices and volumes, with international investors maintaining ownership above 40% for ten consecutive months since November 2023, and trading volumes consistently exceeding 30%.
The Taiwan stock market has surged this year, rising by 23.94% as of September 30, outpacing major global stock markets. Taiwan listed companies have reported significant increases in revenue and profits in the first half of 2024 compared to the same period last year, highlighting robust growth among local enterprises.
“Since 2023, the TWSE has been on a mission to connect Taiwan’s vibrant capital market with the world’s leading financial hubs, including Singapore, Japan, Europe, and the United States. Now, turning our focus to the Middle East, we are keen to attract capital within the region, particularly petrodollars, to invest in Taiwan. Our visit was not just about investment; it was about building lasting relationships, creating cross-border cooperation opportunities, and enhancing our international connectivity,” said Chairman Lin.
Sherman Lin, Chairman of the Taiwan Stock Exchange (second from right), took a group photo with forum speakers and representatives from J.P. Morgan and The Securities Depository Center Company (Edaa).
Taiwan Stock Exchange Chairman Sherman Lin (second from right) participated in the J.P. Morgan Riyadh Forum.
About TWSE
The Taiwan Stock Exchange (the “TWSE”) started operations on February 9, 1962. The TWSE is responsible for operating and advancing the Taiwan securities market. The TWSE’s primary business operations include listing, trading, settlement and surveillance. These comprise listing promotion and review, post-listing supervision and corporate governance, maintaining market trading and order, securities firms’ services, investor protection, clearing and settlement operations, safeguarding against market defaults and the monitoring of illegal transactions. The Exchange provides comprehensive services to the stock market.
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