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Taiwan’s stock market one of top 3 best performing among emerging economies

Taiwan’s stock market one of top 3 best performing among emerging economies

TAIPEI: Taiwan is one of the three best performing emerging economies in terms of stock market performances in the past decade, according to U.S.-based finance company MSCI Inc.

The MSCI index that gauges emerging market equities has jumped 15 percent since 2010, while the MSCI World index has soared 104 percent during the same period, reported Reuters.

Taiwan, Thailand, and the Philippines each saw more than 50 percent gains, outperforming most emerging markets. Turkey, Greece, and the Czech Republic were placed at the bottom of the list for their negative returns, said the report.

The overall lackluster performance of emerging markets can be attributed to events like the protracted U.S.-China trade conflict, the Chinese market selloff, and debt crises in Argentina and Turkey, according to Reuters.

Taiwan’s stock market is poised to hit record three-decade highs, buoyed by upbeat expectations in the global semiconductor industry and the U.S.-China trade standoff, wrote Wall Street Journal. Share prices of Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest semiconductor foundry, had