{"id":25603,"date":"2021-01-09T03:06:24","date_gmt":"2021-01-09T03:06:24","guid":{"rendered":"https:\/\/adamfayed.com\/?p=25603"},"modified":"2022-02-28T11:28:12","modified_gmt":"2022-02-28T11:28:12","slug":"how-to-invest-in-stocks-in-taiwan","status":"publish","type":"post","link":"https:\/\/adamfayed.com\/it\/how-to-guides\/how-to-invest-in-stocks-in-taiwan\/","title":{"rendered":"Come investire in azioni a Taiwan?"},"content":{"rendered":"<p>This article will answer five questions:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>How can you invest in stocks in Taiwan?<\/li><li>More importantly, should you invest in stocks as an expat living in Taiwan, local Taiwanese or international investor?<\/li><li>On the broader question of emerging markets (even though Taiwan is a developed and high-income country it is considered an emerging market from an equity market point of view and is one of the biggest components in MSCI Emerging Markets) is it a good idea to invest in this area?<\/li><li>Is investing in stocks in Mainland China from Taiwan a better alternative? <\/li><li>What&#8217;s the best thing to do\/bottom line\/conclusion? <\/li><\/ol>\n\n\n\n<p>I will use my answers from the social media website Quora.com, where I am the most read investment and personal finance writer with over 218 million answer views, to make my point clear. <\/p>\n\n\n\n<p>If you are looking to invest in a global and cross-border manner, email me (advice@adamfayed.com),<a href=\"https:\/\/adamfayed.com\/it\/#contact-me\" class=\"rank-math-link\"> contattatemi<\/a> here or use the WhatsApp function below.<\/p>\n\n\n\n<p>Often times, local brokers will close down your account if you move from country to country.<\/p>\n\n\n\n<p>This makes it imperative for expats, and Taiwanese people <a class=\"wpil_keyword_link\" href=\"https:\/\/adamfayed.com\/it\/living-abroad\/\"   title=\"vivere all&#039;estero\" data-wpil-keyword-link=\"linked\">vivere all'estero<\/a> or who plan to move overseas, to invest in portable solutions. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>How can I trade on the Taiwan stock exchange?<\/strong><\/h4>\n\n\n\n<p>Fonte: <a href=\"https:\/\/www.quora.com\/How-can-I-trade-on-the-Taiwan-stock-exchange\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.quora.com\/How-can-I-trade-on-the-Taiwan-stock-exchange\" rel=\"noreferrer noopener nofollow\">Quora<\/a><\/p>\n\n\n\n<p><strong>There are two questions to answer here:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>How to trade on the Taiwan stock exchange<\/li><li>Should you trade on the Taiwan stock exchange as a local or expat?<\/li><\/ol>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.fs.quoracdn.net\/main-qimg-af75dd15ffb016fb4f8ce559e31a2e14\" alt=\"\"><\/figure>\n\n\n\n<p>For the first question, there are loads of investment platforms online, some of which are available through advisors and others which are DIY, which give you access to:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Taiwan-related ETFs and funds<\/li><li>Some emerging market funds, and `Great China funds`, are linked to HK, Mainland China, Taiwan and some Chinese focused companies in the region.<\/li><li>MSCI Emerging markets has a reasonable allocated to Taiwan because the index was constructed during a period when markets like South Korea and Taiwan were emerging markets.<\/li><\/ul>\n\n\n\n<p>The second question is should you trade on the Taiwan stock exchange as an expat living in Taiwan (I will deal with locals later)?<\/p>\n\n\n\n<p>I would say the answer is usually no for the following reasons:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Unless you actually live in Taiwan, you don\u2019t need to get access to Taiwan directly. You can get access indirectly through the aforementioned funds. If you live in Taiwan as an expat, however, you can make an argument that in order to limit currency risks, one should at least have a reasonable allocation to the local stock market. This is especially the case if you plan to retire in Taiwan.<\/li><li>The Taiwanese stock market, just like many others, has its good and bad periods. Over a long period of time, however, it is highly unlikely to beat the US S&amp;P500.<\/li><li>It is much less diversified than MSCI World, which is a worldwide index as per the information below, or the S&amp;P500. Even though the S&amp;P500 is a US index, it is worldwide, as most US firms sell globally, and plenty of international firms list on the US stock exchanges.<\/li><li>Every dog has its day. So, it is true that the Taiwanese stock market will have its periods of over-performance. 2020 was such a period. Taiwanese stocks did better than most other countries. Yet we can\u2019t know in advance which countries&#8217; stock exchanges will outperform. The reason is simple &#8211; there are too many unknown variables. There is little or no correlation between economic growth, wars, inflation and many other events and stock market performance. Just look at 2020. US markets had another good year. They were up by 17% on average, with the Nasdaq outperforming at 43%. Yet the US had awful death rates, a recession and a disputed election. One of the best period for stock markets was during early November &#8211; when there was a second lockdown in Europe and a disputed US election!<\/li><li>Following on from the last point, I have never met a person who has managed to time markets. In other words, find a time to buy Taiwan stocks and ETFs at the right time, then buy US indexes, sell them and buy Taiwan again.<\/li><\/ul>\n\n\n\n<p>For all of those reasons, the best risk-adjusted strategy as an international investor or expat is often to invest in a diversified portfolio, like the aforementioned MSCI World, together with some other investments.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.fs.quoracdn.net\/main-qimg-4b1dcddffe7056319895524f120f86e9\" alt=\"\"><\/figure>\n\n\n\n<p>Even for a local Taiwanese person living in Taiwan, it is important to be internationally diversified, especially if you plan to live overseas in the future.<\/p>\n\n\n\n<p>So, is the Taiwanese stock market better to own than the Mainland Chinese ones like Shenzhen and Shanghai?<\/p>\n\n\n\n<p>Yes, but it isn\u2019t as good as owning a worldwide index or the S&amp;P500.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>How can you save for retirement in Taiwan?<\/strong><\/h4>\n\n\n\n<p>Fonte: <a href=\"https:\/\/www.quora.com\/How-can-you-save-for-retirement-in-Taiwan\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.quora.com\/How-can-you-save-for-retirement-in-Taiwan\" rel=\"noreferrer noopener nofollow\">Quora<\/a><\/p>\n\n\n\n<p>As a foreign in Taiwan, realistically you shouldn&#8217;t rely on the local provisions. This doesn\u2019t just apply for Taiwan.<\/p>\n\n\n\n<p>It also applies to expats living in China, Japan and most countries in Asia-Pacific. Most foreigners aren\u2019t going to retire in Taiwan, so having an International solution, makes more sense.<\/p>\n\n\n\n<p>Even for local Taiwanese, just focusing on local real estate and stocks is high risk, compared to diversifying to include international assets.<\/p>\n\n\n\n<p>So if I lived in Taiwan, I would just continue to invest into my expat investment account.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\u00c8 rischioso passare da un'ampia diversificazione geografica a investire soprattutto nei mercati meno sviluppati?<\/strong><\/h4>\n\n\n\n<p>Fonte: <a href=\"https:\/\/www.quora.com\/unanswered\/Is-it-risky-to-move-from-broad-geographical-diversification-into-investing-mostly-in-less-developed-markets\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.quora.com\/unanswered\/Is-it-risky-to-move-from-broad-geographical-diversification-into-investing-mostly-in-less-developed-markets\" rel=\"noreferrer noopener nofollow\">Quora<\/a><\/p>\n\n\n\n<p>S\u00ec, perch\u00e9:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>I mercati emergenti hanno pi\u00f9 piccoli investitori retail e meno istituzionali<\/li><li>La performance media dell'MSCI Emerging Markets non \u00e8 stata superiore a quella dello S&amp;P e dei mercati mondiali sviluppati.<\/li><li>Certo, ci sono anni in cui i mercati emergenti producono molto di pi\u00f9, come in questo esempio;<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.fs.quoracdn.net\/main-qimg-a45065ac158477231ab0b91fe4dad4ea\" alt=\"\"><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Tuttavia, la tendenza generale \u00e8 che una maggiore crescita del PIL non sempre si traduce in una migliore performance del mercato.<\/li><\/ul>\n\n\n\n<p>L'ultimo punto \u00e8 fondamentale. Se si accetta una maggiore volatilit\u00e0 in cambio di rendimenti pi\u00f9 elevati, allora va bene.<\/p>\n\n\n\n<p>Perch\u00e9 preoccuparsi di alcuni anni terribili di crescita -40% se la tendenza generale, nell'arco di 30 anni, \u00e8 probabilmente molto migliore di quella dello S&amp;P e degli altri mercati sviluppati?<\/p>\n\n\n\n<p>La realt\u00e0 \u00e8 per\u00f2 diversa.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Should I buy Chinese stocks now that the Coronavirus is causing prices to decrease?<\/strong><\/h4>\n\n\n\n<p>Fonte: <a href=\"https:\/\/www.quora.com\/Should-I-buy-Chinese-stocks-now-that-the-Coronavirus-is-causing-prices-to-decrease\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.quora.com\/Should-I-buy-Chinese-stocks-now-that-the-Coronavirus-is-causing-prices-to-decrease\" rel=\"noreferrer noopener nofollow\">Quora<\/a><\/p>\n\n\n\n<p><strong>I would avoid China-specific ETFs and stocks because of:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Corporate governance issues<\/li><li>Political and social risks<\/li><li>You can get direct and indirect exposure to China through US and international markets. Look at Alibaba and countless other Chinese IPOs on US markets:<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.fs.quoracdn.net\/main-qimg-27ede26b8e2a2b8171103a7cf13d035f\" alt=\"\"><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Many big US firms like Apple and Amazon, and for that matter European companies, have revenue coming from China. For example, about 25% of Apple\u2019s revenue comes from China<\/li><li>The Chinese index is much riskier than a broad based index like MSCI World<\/li><li>Individual Chinese firms are even more risky than a Chinese ETF and much riskier than a broad based index<\/li><li>China has deep economic problems that are seldom mentioned in the media, including Western media. For example, its growth is probably not 100% accurate. Most real estimates suggest China is only growing by 3% per year and not the 6%+ the CCP is suggesting<\/li><li>Growth and stock markets aren\u2019t always connected, but this brings us back to the corporate governance issue.<\/li><\/ul>\n\n\n\n<p>So yes I would be adding positions right now, but I would avoid a China-specific position.<\/p>\n\n\n\n<p>Many people have made that mistake in the last few years. They have seen the Chinese market struggle since 2006, and have been waiting for it to move upwards.<\/p>\n\n\n\n<p>It will one day but markets are stupid, even if they aren\u2019t efficient all the time.<\/p>\n\n\n\n<p>They are pricing in China\u2019s risks to the equation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Is this the right time to buy stock in China?<\/strong><\/h4>\n\n\n\n<p>Fonte: <a href=\"https:\/\/www.quora.com\/Is-this-the-right-time-to-buy-stock-in-China\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.quora.com\/Is-this-the-right-time-to-buy-stock-in-China\" rel=\"noreferrer noopener nofollow\">Quora<\/a><\/p>\n\n\n\n<p>On paper, Chinese stocks have looked quite cheap for years, apart from a brief moment in 2015, when they charged ahead, before falling.<\/p>\n\n\n\n<p>The issue is, the market has been in trouble since 2006. In a market dominated by small retail investors, in comparison to the S&amp;P which is dominated by institutional investors, sentiment seems to change easily.<\/p>\n\n\n\n<p>In other words, as the market is reliant on individual investors, and most of those individual investors have been scarred off by previous falls, there is no guarantee that the market will increase.<\/p>\n\n\n\n<p>\u2018Country picking` emerging market ETFs is high-risk. I would just have a 10% allocation to an emerging market ETFs.<\/p>\n\n\n\n<p>Indirectly, it will have about a 20% allocation to China. Added to the allocation through MSCI World that should be enough.<\/p>\n\n\n\n<p><strong>Qual \u00e8 il risultato finale?<\/strong><\/p>\n\n\n\n<p>If you plan to live in Taiwan forever, as a local or expat, there are some solid arguments for investing a part of your portfolio in the local stock market.<\/p>\n\n\n\n<p>It will lower your currency risks for one.  It still pays to be diversified though, especially as the Taiwanese stock market index is unlikely to beat the S&amp;P500 long-term. <\/p>\n\n\n\n<p>If you are living outside of Taiwan, or just temporarily in the country, it is better to focus on building a portable, internationally-diversified, investment account.<\/p>\n\n\n\n<p><strong>Ulteriori letture <\/strong><\/p>\n\n\n\n<p>In the answers below I was asked:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Cosa deve sapere un principiante in termini di investimenti in borsa? E soprattutto, quali sono le cose che spesso vengono trascurate da chi \u00e8 alle prime armi con gli investimenti.<\/li><li>\u00c8 possibile mantenersi finanziariamente con un portafoglio di investimenti in borsa? In altre parole, \u00e8 possibile smettere di lavorare grazie ai propri investimenti azionari? Che cosa non si capisce quando si parla di \u201creddito passivo\u201d?<\/li><li>Se volete diventare milionari investendo in azioni, quanto dovete investire ogni mese o anno? \u00c8 meno o pi\u00f9 di quanto ci si potrebbe aspettare?<\/li><\/ol>\n\n\n\n<p><strong>As a preview I have copied part of the answer below <\/strong><\/p>\n\n\n\n<p>In ogni campo le basi sono fondamentali. Se volete mettervi in forma, le basi di una buona alimentazione, dell'esercizio fisico e della postura sono importanti.<\/p>\n\n\n\n<p>Lo stesso vale per gli investimenti. \u00c8 un mito che sia necessario essere molto intelligenti per essere un buon investitore, come dice la citazione qui sotto:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.fs.quoracdn.net\/main-qimg-81c2040095e6a56aa4ed5c80d79f24e1\" alt=\"\"><\/figure>\n\n\n\n<p><strong>Ci\u00f2 di cui le persone hanno bisogno \u00e8<\/strong><\/p>\n\n\n\n<p><strong>1.In realt\u00e0 iniziare -&nbsp;<\/strong>80% del successo \u00e8 semplicemente presentarsi. Lo stesso vale per gli investimenti. La creazione di un conto di investimento sembra ovvia, ma \u00e8 fondamentale. Inoltre, semplici accorgimenti come investire un giorno dopo essere stati pagati possono aumentare drasticamente il volume degli investimenti. Alcuni studi hanno addirittura dimostrato che le persone sono in grado di investire tre volte di pi\u00f9 all'inizio del mese, anzich\u00e9 alla fine. Nel tempo, la quantit\u00e0 e la durata degli investimenti saranno ancora pi\u00f9 importanti dei rendimenti composti.<\/p>\n\n\n\n<p><strong>2. Tempo e pazienza&nbsp;<\/strong>- Il modo pi\u00f9 semplice per fare soldi, con meno rischi, \u00e8 sfruttare il tempo. Le azioni sono rischiose se le si tiene solo per un anno. Anche alcuni ETF e indici lo sono. Se li si tiene per decenni, non lo sono. Non confondete volatilit\u00e0 e rischio.<\/p>\n\n\n\n<p><strong>3. Essere diversificati.<\/strong>&nbsp;Se si tengono insieme azioni e obbligazioni, \u00e8 ancora pi\u00f9 sicuro:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.fs.quoracdn.net\/main-qimg-89d95e2f75fb84dde90ad10aa7d136da\" alt=\"\"><\/figure>\n\n\n\n<p><strong>4. Conoscenze di base, come minimo.&nbsp;<\/strong>Oppure affidare il processo a qualcuno che abbia queste conoscenze. Molte persone commettono l'errore di investire senza saperne molto.<\/p>\n\n\n\n<p><strong>5. Nessuno pu\u00f2 prevedere il futuro<\/strong>&nbsp;Certo, innumerevoli persone possono azzeccare una previsione. Alcuni riescono ad azzeccarne molte. Molti sono riusciti a fare previsioni eccellenti. Su un periodo di 40-50 anni, tuttavia, \u00e8 molto improbabile che si riesca a battere il mercato facendo mosse basate sull'ascolto delle teste parlanti dei media. Innumerevoli studi accademici hanno dimostrato che non si pu\u00f2 battere il mercato ascoltando la CNBC, Bloomberg e molti altri media. Almeno nel lungo periodo.<\/p>\n\n\n\n<p><strong>6. Controllo delle emozioni.&nbsp;<\/strong>Questo \u00e8 il punto pi\u00f9 sottovalutato. La maggior parte delle persone pensa che gli investitori che scommettono siano quelli pi\u00f9 preparati. Eppure una persona molto emotiva e super esperta non se la cava bene negli investimenti. Ogni volta che c'\u00e8 un crollo, vendono nel panico. Persino alcuni dottori in teoria del portafoglio hanno infranto le loro stesse regole di investimento.<\/p>\n\n\n\n<p>Per quanto riguarda l'ultimo punto, la cosa pi\u00f9 importante \u00e8 che nessuno sa come reagir\u00e0 a un crollo del mercato azionario finch\u00e9 non ne sperimenta uno.<\/p>\n\n\n\n<p>All'inizio del 2020, il mercato azionario non era mai crollato in modo significativo dal 2008.<\/p>\n\n\n\n<p>Conosco personalmente tante persone che mi hanno \u201cpromesso\u201d che non si sarebbero mai fatte prendere dal panico come quegli \u201cidioti\u201d (per usare le loro parole) nel 2008.<\/p>\n\n\n\n<p>Poi \u00e8 arrivato il 2020, i media hanno gridato che questa volta \u00e8 diverso, come fanno sempre, e molte di quelle persone sono andate nel panico.<\/p>\n\n\n\n<p>Un'altra parte del controllo emotivo consiste nel non eccitarsi troppo nei momenti positivi o deprimersi troppo in quelli negativi.<\/p>\n\n\n\n<p>La maggior parte delle persone guarda a un mercato azionario stagnante e pensa che non valga la pena investire.<\/p>\n\n\n\n<p>Pochi volevano investire nell'S&amp;P500 nel 1982, dopo 17 anni di stagnazione.<\/p>\n\n\n\n<p>Allo stesso modo, pochi volevano investire nel 2010 dopo un \u201cdecennio perduto\u201d. Tuttavia, dopo entrambi i periodi, le azioni hanno avuto un lungo ciclo di rialzi dal 1982 al 2000 e dal 2009 al 2020.<\/p>\n\n\n\n<p>Allo stesso modo, non bisogna farsi scoraggiare dal fatto che alcuni mercati, come il FTSE All Stars, hanno sottoperformato i mercati statunitensi negli ultimi tempi.<\/p>\n\n\n\n<p><strong>To carry on reading click below:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-adam-fayed wp-block-embed-adam-fayed\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"pN4bSLVyor\"><a href=\"https:\/\/adamfayed.com\/it\/i-was-asked-what-do-i-need-to-know-about-investing-here-is-my-answer\/\">I was asked &#8220;what do I need to know about investing?&#8221;. Here is my answer.<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;I was asked &#8220;what do I need to know about investing?&#8221;. Here is my answer.&#8221; &#8212; Adam Fayed\" src=\"https:\/\/adamfayed.com\/i-was-asked-what-do-i-need-to-know-about-investing-here-is-my-answer\/embed\/#?secret=bEfCcypRsI#?secret=pN4bSLVyor\" data-secret=\"pN4bSLVyor\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>","protected":false},"excerpt":{"rendered":"<p>Come si pu\u00f2 investire nel mercato azionario di Taiwan ed \u00e8 una buona idea?<\/p>","protected":false},"author":1,"featured_media":25606,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10166176115445471_100883565069113":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[11562],"tags":[],"class_list":["post-25603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-how-to-guides"],"_links":{"self":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/25603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/comments?post=25603"}],"version-history":[{"count":0,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/25603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/media\/25606"}],"wp:attachment":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/media?parent=25603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/categories?post=25603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/tags?post=25603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}