TWSE Chairman Lin Leads Delegation to Strengthen Ties in the Middle East and Boost Foreign Investment in Taiwan Capital Market

TAIPEIandRIYADH, Saudi Arabia,Oct. 21, 2024/PRNewswire/ -- In a strategic initiative to attract foreign investment, Taiwan Stock Exchange (TWSE) Chairman& CEOSherman Linled a delegation to theMiddle EastfromOctober 11 to 19. The delegation engaged with stock exchanges, sovereign wealth funds, asset managers, and custodian banks inQatar,Saudi Arabia, and theUnited Arab Emirates. This landmark visit to engage with key institutional investors, the first since 2007, aimed to showcaseTaiwan'scapital market strengths and growth potential.

Fostering stronger bilateral investment relations, the delegation provided investors in theMiddle Eastwith in-depth insights intoTaiwan'smarket value and potential.

Chairman Lin highlighted the latest advancements inTaiwancapital market, particularly the surge in the AI industry this year, which has significantly boosted the market value and trading volume ofTaiwancapital market.Taiwan'ssemiconductor industry, a cornerstone of the global AI supply chain, was also emphasized, positioning theTaiwancapital 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 shareTaiwan'ssuccessful 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 theTaiwangovernment, 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 inRiyadh, Chairman Lin highlighted the key role ofTaiwanin the global AI supply chain, innovation inTaiwancapital market and growth potential of the ETF market, underscoringTaiwan'scompetitive edge in the global economy.

Sherman Lin, TWSE Chairman& CEO, commented:"Since 2020,Taiwan'smarket capitalization has doubled, reachingUSD 2.2 trillion.Taiwan'saggressive 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 ofTaiwan'sICT industry and the future launch of active and multi-asset ETFs under the government's Asian Asset Management Center project,Taiwancapital market is poised to attract more international investors,"added Chairman Lin.

Chairman Lin also noted that sustained foreign interest has been a key driver behindTaiwan'supward trend in stock prices and volumes, with international investors maintaining ownership above 40% for ten consecutive months sinceNovember 2023, and trading volumes consistently exceeding 30%.

TheTaiwanstock market has surged this year, rising by 23.94% as ofSeptember 30, outpacing major global stock markets.Taiwanlisted 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 connectTaiwan'svibrant capital market with the world's leading financial hubs, includingSingapore,Japan,Europe, andthe United States. Now, turning our focus to theMiddle East, we are keen to attract capital within the region, particularly petrodollars, to invest inTaiwan. 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.

About TWSE

The Taiwan Stock Exchange (the"TWSE") started operations onFebruary 9, 1962. The TWSE is responsible for operating and advancing theTaiwansecurities 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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SOURCE Taiwan Stock Exchange