The Taiwan Index, also known as the Weighted Stock Index, or Taiwan Stock for short, is named “TAIEX” in English. It is a stock price index created by the Taiwan Stock Exchange in 1967. The stock price index includes all common stocks listed on the Taiwan Stock Exchange. As of April 2020, there are a total of 922 constituent stocks, which is regarded as a barometer of Taiwan’s stock market and economy.
The Taiwan index is a market capitalization-weighted index. Therefore, the greater the market capitalization of the companies that the constituent stocks belong to, the greater the impact on the stock index when stock prices fluctuate. As of May 2020, the market value of a single company, TSMC, accounts for about 28% of the total market value of Taiwan stocks. Therefore, when the semiconductor industry fluctuates (TSMC’s main business), the Taiwan Index is susceptible to greater impact.
Since the Taiwan Index contains all common stocks listed on the Taiwan Stock Exchange, unlike many other stock price indexes, this index does not require annual/quarterly review. If new common stocks are listed, the index will include them when the stocks have been listed for one month. Conversely, if any constituent stocks stop trading due to various reasons, or the trading method is changed, the stock will be delisted the next day.
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