Page 8 - 證交所108年報

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In 2019, due to the higher growth of Taiwan stocks, the average price-to- earnings ratio of listed stocks rose to 19.57, maintaining a reasonable level compared to the international market. In addition, dividend yield (stock and cash) dropped slightly to 3.82%, despite this, yield has remained at about 4% in the past five years, which, globally, is a market with a higher return on investment. Listed stock turnover maintained good liquidity at 72.87% (trading value turnover was 80.36%). The market value of listed securities reached a record high of TWD 36.41 trillion, an increase of TWD 7.1 trillion over the previous year. The proportion of Taiwanese securities held by foreign investors increased to 43.02%, reaching a new high at the end of the year. Most of these are long-term investments, showing that listed companies are in good health and favored by international funds.