The number of so-called “big investors,” those who trade more than NT$500 million (US$17.77 million) of local shares in a three-month period, fell 11 percent quarter-on-quarter to 5,309 in the third quarter, the first decrease since the first quarter of last year, Taiwan Stock Exchange data showed on Tuesday.
However, last quarter’s number was still higher than 2,369 the previous year and was the second-highest number after 5,990 in the second quarter, the data showed.
The number of “mid-sized investors,” those who trade NT$100 million to NT$500 million of shares in a three-month period, also fell 13 percent to 42,395 in the third quarter, the first decrease this year, the data showed.
Photo: Taipei Times
A Taiwan Stock Exchange official yesterday said that the decline reflected the TAIEX’s fall of 4.4 percent in the third quarter against a stable rise in 10-year US Treasury yields.
It also came amid a debate on whether a cut in the day trading tax should be extended, the official said.
To cool day trading activity, the exchange last month paid close attention to shares whose day-trading turnover was higher than 60 percent of total turnover, and also banned margin trading of shares with high day-trading activity and volatile prices.
The ratio of day trading to overall turnover slid from 45.29 percent in August to 41.54 percent last month, while on average 129,880 investors conducted day trading per day last month, down 17 percent from 155,621 the previous month, the data showed.
“Many day traders might have held back as they needed to consider how to adjust their investment strategy,” the exchange official said.
The number of retail investors who trade less than NT$100 million of shares in a three-month period posted a milder decrease last quarter, falling 2.5 percent to 4.27 million, the data showed.
Turnover by local individual investors accounted for 70.25 percent of total turnover in the third quarter, flat from a quarter earlier, while that by foreign institutional investors made up 22.18 percent, up from 21.84 percent, the data showed.
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