The Taiwan Stock Exchange opened up 161 points at 18,379, a new high, on Jan. 3. However, analysts say Taiex has achieved over 20 percent growth for three consecutive years and the market may correct itself.
The Taiwan Stock Exchange opened up 41.39 points on Jan. 3, the first day of trading in 2022. With TSMC's share price up NT$16 to NT$631 and other electronic stocks also rising, the index hit a new high of 18,379 points.
David Chu, Chair, Hua Nan Securities Investment Management: “At its highest, TSMC's share price rose NT$16 during trading. The U.S. market seems to be overvalued right now. In addition, foreign investors have bought close to NT$1 trillion's worth of Taiwanese stocks in the last two years. If the U.S. market remains strong, foreign investors may see a chance to make up losses. Everything will depend on industry fundamentals.”
The TSE has performed well on the first day of trading in the new year since 2020. One analyst says the TSE has grown over 20 percent in the last three years and it will need an influx of capital and better industry fundamentals to get to the next level. He also says market corrections may be coming all over the world.
Jeffrey Bor, Economics Professor, Chinese Culture University: “Why hasn't Taiwan's stock market bubble burst yet? It's because the trade war between China and the U.S. has driven basic industries back to Taiwan in the last two years. This has saved Taiwan and the tech industry are making a lot of money. You can see this from their bonuses. The bubble is still being supported.”
The expert says with the U.S. Federal Reserve raising interest rates, inflation and stagnant economic growth, market corrections may be seen in the first quarter all over the world.
台股盤面一片紅通通，新年度的第一個交易日以上漲41.39點開出後，指數一路向上，在台積電大漲16元，股價達631元及被動元件等電子股齊步上攻的帶動下，大盤一度大漲161點、來到18379點，再造歷史新高，目前大盤漲幅略微收斂。
華南投顧董事長儲祥生認為：「整個大盤氣勢如虹，重點是台積電，台積電最高的時候，盤中漲了16塊錢，我個人覺得說，看起來因為美股還是一個多頭的格局，加上過去兩年，外資賣了將近一兆台幣的台股，也許美股強勢的話，有機會讓外資回補，最重要還是要看產業的基本面。」
事實上回顧過去3年，除了2019年，台北股市新年的第一個交易日多有不錯的表現，分析師表示，台股已經連續3年的年平均漲幅達20%，在高檔下，未來大盤需要更多資金及更好的產業基本面推升才有望再上一層樓，而學者則認為，在全球股市大漲下，接下來是否出現漲多大幅回檔修正是觀察重點之一。
文化大學經濟系教授柏雲昌指出:「台灣的股市為什麼一直都還沒有泡沫化？因為這兩年中美貿易大戰的關係，把基本面這些產業引回來，救了台灣，所以這一次有這個支撐在，科技業都蠻賺錢的，他們分紅也蠻多的，說這個泡泡目前還撐得住。」
學者認為，包括FED升息、通膨上升、經濟成長將不如預期等因素，都可能使全球股市在今年第一季再修正，建議投資人仍需謹慎因應。