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BackTaiwan stocks plummet, gold mining ETF009832 bucks trend and hits highs
Taiwan stocks plummet, gold mining ETF009832 bucks trend and hits highs
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自由时报17 minutes agoBusiness2 min readChinaView original

Taiwan stocks plummet, gold mining ETF009832 bucks trend and hits highs

Global gold ETFs saw net inflows of 211.2 metric tons in the third quarter, and Mega Investment Bank recommends reviewing asset allocation

Taiwan stocksGold Mining ETF009832

Quick Look

  • Taiwan stocks have encountered epic selling pressure, and electronics and semiconductor equity stocks have suffered heavy losses.
  • However, Taiwan's first gold mining ETF "009832" bucked the trend and rose, hitting a new high of 10.29 yuan since its listing.
  • Mega Investment cited statistics from the World Gold Council that net inflows into global gold ETFs reached 211.2 metric tons in the third quarter.

AI-generated summary

Why It Matters

Taiwanese stocks suffered epic selling pressure, affected by the sharp decline in U.S. technology stocks and changes in the political situation after the U.S. midterm elections. Taiwan's first gold mining ETF "009832" was listed on October 29. It tracks the "NYSE TIP US Gold Mining Index" and its investment targets cover the world's major gold miners listed on the US stock market.

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Taiwan stocks suffered epic selling pressure! Affected by the slump in U.S. technology stocks and the changes in the political situation after the U.S. midterm elections, the Taiwan stock market once opened today (6th) and fell by more than 3,000 points. Electronics and semiconductor equity stocks were severely hit. However, Taiwan's first gold mining ETF "009832", which was only listed on October 29, bucked the trend and rose, hitting a new high of 10.29 yuan since its listing.

Mega Investment Trust pointed out that 009832 tracks the "NYSE TIP U.S. Gold Mining Index" and its investment targets cover the world's major gold miners listed on U.S. stocks. In addition to being linked to gold prices, it also has the opportunity to provide investment performance that is different from the electronics industry when technology stocks face corrections, reducing the risk of over-concentration of investment portfolios in a single industry.

Observing the fundamentals of the gold market, Mega Investment cited statistics from the World Gold Council and pointed out that the net inflow of global gold ETFs reached 211.2 metric tons in the third quarter of this year, indicating that global legal persons’ demand for gold asset allocation continues to heat up.

Mega Investment Bank recommends that in the face of changes in the global political and economic situation, violent rotations in technology stocks, and sharp fluctuations in Taiwanese stocks, investors can re-examine asset allocation and avoid excessive concentration in a single industry. Gold mining ETFs invest in the stocks of mining companies, which is not the same as directly holding gold. Compared with direct investment in physical gold or gold futures, gold mining ETFs participate in the gold industry market by investing in gold mining companies. In addition to having the opportunity to benefit from rising gold prices and driving corporate profit growth, they can also fill the allocation gap in resource industries in the investment portfolio.

Open Questions

  • 009832 What are the specific constituent stocks of ETF?
  • How does the long-term performance of gold mining ETFs compare to physical gold?
  • Will the selling pressure on Taiwan stocks continue, and can gold mining ETFs maintain their gains?

Related Topics

Taiwan stocks
PeopleLi Jinghui
OrganizationsMega Investment Trustworld gold council
PlacesTaipei
TopicsGold Mining ETF009832Mega Investment Trustworld gold councilAsset allocationelectronic stocks
This article was originally published by 自由时报.

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