Popular Ethnic Groups" Glitter! The financial stock index has surged 56.64% this year

Foreign investors sold Taiwan stocks like crazy, but financial stocks bucked the trend and hit record highs (photo by reporter Wang Menglun)

[Reporter Wang Menglun/Special Report] Last Thursday (October 15), Taiwan stocks plummeted, and foreign investors even sold 302.5 billion yuan in a single day, setting a record for the largest oversold in history; however, just when the market was turning green, what the market called a "fund haven" The financial stock group has gained favor from the market, and many financial stocks have bucked the trend and soared; last Friday the "financial index" closed at 3750.52 points, a record high. The financial index rose 6% last week and has risen 56.64% cumulatively this year, which is an outstanding performance.

Analysts pointed out that although the financial index's growth this year still lags behind the broader market's growth (62.66%), the profits of financial holding companies in the first nine months of this year are also "the strongest in history", with a profit of 631.8 billion yuan, which will help the stock price rise, and there is still room for growth in the future.

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Regarding the stock price performance of financial stocks, analysts said that the market has recently fallen due to crazy overselling by foreign capital. However, financial stocks have become the focus of continuous increase in foreign capital due to their anti-fall and defensive attributes. In particular, financial stocks have become the best investment targets for reducing risk in the short term due to their stable profits, relatively low volatility and dividend themes.

The legal person bluntly stated that as the overall financial holding profit has hit a new high, the market estimates that this year's full-year profit is expected to hit the 800 billion yuan mark, and the topic of mergers continues to ferment. Therefore, the financial group is not afraid of the recent market correction, and the stock price performance continues to be outstanding.

Fubon Gold (2881), which currently has the highest share price among gold holdings, has made profits of over 100 billion yuan in the first three quarters of this year. Fubon Gold soared to a record high price of 164.5 yuan in early trading last Friday, and closed at 161.5 yuan; as for Cathay Gold (2882), it rose more than 3% during the session, and its stock price once reached 118 yuan, also a new high, and closed at 116 yuan. As for CITIC Capital (2891), its cumulative profit in the first three quarters has exceeded 60 billion yuan, and its stock price has also exceeded the 75 yuan mark for the first time, setting a new record and reaching a record high of 75.3 yuan.

Others include Yuan Tai Jin (2885), which benefited from the active trading in Taiwanese stocks. Its stock price and profits were equally outstanding. It reached a maximum of 74.2 yuan last Friday, setting a new high again. Yushan Gold's stock price reached a new high of 49.95 yuan during the session last Friday, and will challenge the 50 yuan mark.

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