PTT職涯區 / Stock (股票)

[新聞] Taiwan Stock Crash Shows World Dangers of Too Much Leverage

看板Stock (股票)作者 (qk123)時間5年前 (2021/05/12 22:17), 編輯推噓41(49推 8噓 36→)
留言93則, 75人參與, 5年前最新討論串1/1
原文標題：Taiwan Stock Crash Shows World Dangers of Too Much Leverage 原文連結：https://reurl.cc/YW2RE0 發布時間：Wed, May 12, 2021, 4:57 PM 原文內容： (Bloomberg) -- Few things evoke fear in equity markets like a margin call. On Wednesday that fear turned into panic in Taiwan, offering another warning for the world on what can happen when leverage unwinds. The trading day started out quiet in Taipei’s $2 trillion stock bourse. But before the morning was over, the local benchmark index had plummeted almost 9% in the worst one-day performance in its 54-year history. There were reasons to sell. New data showed a worsening Covid-19 outbreak in an island where almost no one is vaccinated. A deepening slump in global tech shares also undermined the appeal of a market dominated by the industry. But the swiftness of the plunge that followed suggests bigger forces were at play. For months, bull market skeptics around the world have warned that surging leverage is making equity markets riskier -- and the blowup of Archegos Capital Management in March served as a reminder of that. Yet stocks have continued to rise, with the MSCI All-Country World Index closing at a record as recently as Friday. In the U.S., margin debt topped $822 billion by the end of March -- the latest available data. That’s up 72% year on year. On a smaller scale, the same happened in Taiwan. Armed with conviction, and with history on their side, investors took on increasing amounts of leverage. The result was a 46% expansion in margin debt this year to about NT$274 billion ($9.8 billion) two weeks ago, the highest since 2011. By comparison, the Taiwan benchmark was up just 19% in that period, an indication that people were taking out loans faster than stocks were appreciating. Local investors had little reason to fear losses. Taiwan’s economy became one of the biggest winners from U.S.-China rivalry. Its chipmakers flourished as Washington sought to hobble Beijing’s efforts to build a domestic chip industry. During President Donald Trump’s four-year term, the Taiex benchmark became the world’s best performing stock gauge, gaining more than 90% in U.S. dollar terms. Gains extended this year as the pandemic created a shortage of chips, with the index rising for seven straight months through April. The euphoria began to unravel this week as the threat of inflation sank the Nasdaq, with tech stocks around the world following suit. As the Taiex slid 3.8% on Tuesday in Taiwan, the level of margin debt fell by NT$12.6 billion, the most since October 2018. That suggests traders faced margin calls by brokers to cover losses in their stock accounts. Wednesday’s record rout is likely to have spurred a bigger unwinding of leverage. (Comparatives are skewed by the widening of daily price limits for individual stocks in 2015.) “Margin trading boosted the Taiex over the past few months, which may add to declines if they face margin calls,” said MasterLink Securities Investment Advisory President Paul Cheng. The fear of further losses was evident in a stock market where individual investors account for about 60% of transactions. The derivatives market burst with activity: more than 1.75 million options tracking the Taiex changed hands on Wednesday, the third-busiest day since 2016. Traders snapped up bearish contracts even as dozens of short-term options expired, with the price of one put surging as much as 7,757%. KGI Securities’ trader Kevin Lee, who has been a local stocks trader for a decade, said clients started to panic as the morning wore on. “There were non-stop orders coming in,” Lee said. “Investors were crazy as there were lots of news during trading hours and we didn’t know if they were true or not.” By the end of the day, the index had pared its losses to 4.1%. But the damage to investor confidence was already done. 心得/評論： 我是在看美股新聞，突然看到標題出現台股才點進去看的 簡單的說就是 "台股崩盤讓各國看到過度槓桿的危險" 台灣又讓世界看見了 阿門 -- ※ 發信站: 批踢踢實業坊(ptt.cc), 來自: 1.163.177.94 (臺灣) ※ 文章網址: https://www.ptt.cc/bbs/Stock/M.1620829064.A.9C3.html
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05/12 22:18, 5年前 , 1F
台灣領先世界?
05/12 22:18, 1F
推
05/12 22:18, 5年前 , 2F
我台灣我驕傲
05/12 22:18, 2F
噓
05/12 22:18, 5年前 , 3F
好的不看 看這個銃三小
05/12 22:18, 3F
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05/12 22:18, 5年前 , 4F
看到標題就想吐槽 跟外國比槓桿是有多高
05/12 22:18, 4F
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05/12 22:19, 5年前 , 5F
融資才2倍
05/12 22:19, 5F
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05/12 22:19, 5年前 , 6F
謝謝你報導台灣
05/12 22:19, 6F
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05/12 22:19, 5年前 , 7F
台灣之光 傲視全世界 提前領跌 Taiwan can slide
05/12 22:19, 7F
推
05/12 22:19, 5年前 , 8F
謝謝你們喜歡台灣
05/12 22:19, 8F
噓
05/12 22:19, 5年前 , 9F
笑死 明天聰明融資又衝上去了 好嗎
05/12 22:19, 9F
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05/12 22:19, 5年前 , 10F
Taiwan can help , again !
05/12 22:19, 10F
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05/12 22:20, 5年前 , 11F
Covid-19 outbreak inan island where almost no on
05/12 22:20, 11F
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05/12 22:20, 5年前 , 12F
e is vaccinated
05/12 22:20, 12F
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05/12 22:20, 5年前 , 13F
Taiwan can help. 又幫助到全球的韭菜了
05/12 22:20, 13F
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05/12 22:20, 5年前 , 14F
Taiwan can help
05/12 22:20, 14F
推
05/12 22:20, 5年前 , 15F
咁超丟臉
05/12 22:20, 15F
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05/12 22:21, 5年前 , 16F
這次沒開很大吧，2011年時開3000多億那才狂
05/12 22:21, 16F
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05/12 22:21, 5年前 , 17F
臺灣之光
05/12 22:21, 17F
噓
05/12 22:21, 5年前 , 18F
丟臉
05/12 22:21, 18F
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05/12 22:21, 5年前 , 19F
所以台灣去年領先世界幾天 塊陶
05/12 22:21, 19F
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05/12 22:21, 5年前 , 20F
台股明明很低好嗎 美股本益比才誇張
05/12 22:21, 20F
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05/12 22:21, 5年前 , 21F
台灣又領先全球了....
05/12 22:21, 21F
噓
05/12 22:21, 5年前 , 22F
華航不能倒！！！！！！！
05/12 22:21, 22F
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05/12 22:22, 5年前 , 23F
現在是維持率太低，而且信用管道多，不然我看應該
05/12 22:22, 23F
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05/12 22:22, 5年前 , 24F
2011那時為何能開大?
05/12 22:22, 24F
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05/12 22:22, 5年前 , 25F
比以前更狂...
05/12 22:22, 25F
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05/12 22:22, 5年前 , 26F
就說不要開槓桿 不要投機 存股投資慢慢來很難?
05/12 22:22, 26F
推
05/12 22:22, 5年前 , 27F
Taiwan can help
05/12 22:22, 27F
推
05/12 22:22, 5年前 , 28F
滾
05/12 22:22, 28F
推
05/12 22:22, 5年前 , 29F
今天融資根本沒殺多少
05/12 22:22, 29F
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05/12 22:23, 5年前 , 30F
當沖仔 台灣之醜
05/12 22:23, 30F
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05/12 22:23, 5年前 , 31F
XDDDDDDDDDD
05/12 22:23, 31F
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05/12 22:23, 5年前 , 32F
目前維持率還好，漲太多讓低檔融資有喘息空間
05/12 22:23, 32F
噓
05/12 22:23, 5年前 , 33F
外國人看到這篇打開發現台股才-4% 黑人問號
05/12 22:23, 33F
推
05/12 22:23, 5年前 , 34F
最近什麼少年股神 一直在鼓吹借錢買股票
05/12 22:23, 34F
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05/12 22:24, 5年前 , 35F
懂得急流勇退才是真股神~
05/12 22:24, 35F
噓
05/12 22:24, 5年前 , 36F
信貸那些死光了沒
05/12 22:24, 36F
推
05/12 22:24, 5年前 , 37F
台灣融資半數以上都大戶在用 真的是過度槓桿嗎
05/12 22:24, 37F
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05/12 22:24, 5年前 , 38F
忽然間覺得test 520上次出來開示現金五成以上 好神
05/12 22:24, 38F
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05/12 22:24, 5年前 , 39F
啊 真的股神只服他
05/12 22:24, 39F
推
05/12 22:25, 5年前 , 40F
台股崩盤讓各國看到過度貪心的韭菜
05/12 22:25, 40F
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05/12 22:25, 5年前 , 41F
05/12 22:25, 41F
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05/12 22:25, 5年前 , 42F
2011年融資開到3263億，這次2740億，2011年一直殺
05/12 22:25, 42F
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05/12 22:25, 5年前 , 43F
到融資1500億才止跌
05/12 22:25, 43F
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05/12 22:26, 5年前 , 44F
又沒畢業文洗版是崩個屁
05/12 22:26, 44F
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05/12 22:26, 5年前 , 45F
以前7%，跌停要4天才追繳，現在2天就快斷頭了
05/12 22:26, 45F
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05/12 22:27, 5年前 , 46F
使用者和券商都會更加謹慎
05/12 22:27, 46F
噓
05/12 22:27, 5年前 , 47F
可憐哪
05/12 22:27, 47F
噓
05/12 22:27, 5年前 , 48F
Taiwan SUCKS!
05/12 22:27, 48F
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05/12 22:27, 5年前 , 49F
散戶人踩人
05/12 22:27, 49F
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05/12 22:28, 5年前 , 50F
人家都低檔融資 你在高檔融資當然被請出場
05/12 22:28, 50F
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05/12 22:28, 5年前 , 51F
美股爆倉事件才過去沒多久就來檢討台灣啦
05/12 22:28, 51F
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05/12 22:29, 5年前 , 52F
聰明融資都賺飽退場了
05/12 22:29, 52F
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05/12 22:29, 5年前 , 53F
台股本益比才幾倍 融資也沒創高 這波跌跟槓桿關係?
05/12 22:29, 53F
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05/12 22:31, 5年前 , 54F
疫苗接種率低=“=
05/12 22:31, 54F
推
05/12 22:31, 5年前 , 55F
很多信貸房貸買股的不在融資裡
05/12 22:31, 55F
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05/12 22:31, 5年前 , 56F
美股都有基金開到爆倉了 等台股有基金爆倉再說好嗎
05/12 22:31, 56F
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05/12 22:31, 5年前 , 57F
出場的才是師傅 沒出場的都套牢仔
05/12 22:31, 57F
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05/12 22:31, 5年前 , 58F
我只注意到這點!!!
05/12 22:31, 58F
推
05/12 22:34, 5年前 , 59F
一個華航事件 讓全球開始崩盤..
05/12 22:34, 59F
推
05/12 22:34, 5年前 , 60F
當沖稅半價死不檢討，害死人
05/12 22:34, 60F
推
05/12 22:35, 5年前 , 61F
美國人：本土16例應該漲10%吧
05/12 22:35, 61F
推
05/12 22:35, 5年前 , 62F
讓世界看見台灣！
05/12 22:35, 62F
推
05/12 22:37, 5年前 , 63F
ok 全球成長股全都給我向下修成到本益比10
05/12 22:37, 63F
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05/12 22:39, 5年前 , 64F
人家都比我們知道為什麼會跌成這樣
05/12 22:39, 64F
推
05/12 22:39, 5年前 , 65F
呆灣 南波萬！
05/12 22:39, 65F
推
05/12 22:42, 5年前 , 66F
台灣之光
05/12 22:42, 66F
推
05/12 22:42, 5年前 , 67F
Taiwan no.1
05/12 22:42, 67F
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05/12 22:42, 5年前 , 68F
美國人：16例你們嚇到崩潰？？？？？
05/12 22:42, 68F
推
05/12 22:42, 5年前 , 69F
外資期貨空單要不要說說看有多少 嘻嘻
05/12 22:42, 69F
推
05/12 22:43, 5年前 , 70F
全世界看台股啦
05/12 22:43, 70F
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05/12 22:44, 5年前 , 71F
當然 因為台灣不能印錢 只有美國能亂印
05/12 22:44, 71F
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05/12 22:44, 5年前 , 72F
台灣只能跟著屁股印
05/12 22:44, 72F
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05/12 22:44, 5年前 , 73F
有種美國放棄儲備貨幣地位啊
05/12 22:44, 73F
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05/12 22:44, 5年前 , 74F
爽啦，這次要超越2008囉
05/12 22:44, 74F
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05/12 22:45, 5年前 , 75F
得了便宜不要賣乖
05/12 22:45, 75F
推
05/12 22:46, 5年前 , 76F
台灣國際領頭羊
05/12 22:46, 76F
推
05/12 22:47, 5年前 , 77F
救命
05/12 22:47, 77F
推
05/12 22:54, 5年前 , 78F
阿門
05/12 22:54, 78F
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05/12 23:00, 5年前 , 79F
各國開始警惕也好 免得金融風暴又來
05/12 23:00, 79F
推
05/12 23:00, 5年前 , 80F
台灣股市槓桿還好ㄅ？
05/12 23:00, 80F
推
05/12 23:05, 5年前 , 81F
台灣人最勇敢!!
05/12 23:05, 81F
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05/12 23:23, 5年前 , 82F
哈哈，台灣人肯定不是過度槓桿，是恰恰相反，一切
05/12 23:23, 82F
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05/12 23:24, 5年前 , 83F
都是過度恐慌。
05/12 23:24, 83F
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05/12 23:26, 5年前 , 84F
蛤？台灣漲跌最多10%，跟誰比槓桿？XDD
05/12 23:26, 84F
推
05/12 23:28, 5年前 , 85F
留名
05/12 23:28, 85F
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05/12 23:32, 5年前 , 86F
05/12 23:32, 86F
推
05/12 23:34, 5年前 , 87F
槓桿開太大上新聞了
05/12 23:34, 87F
推
05/12 23:34, 5年前 , 88F
老美才是玩最大的
05/12 23:34, 88F
推
05/12 23:45, 5年前 , 89F
讓世界看見台灣
05/12 23:45, 89F
推
05/13 00:38, 5年前 , 90F
Taiwan再度領先台灣
05/13 00:38, 90F
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05/13 02:31, 5年前 , 91F
才16例就在恐慌 笑掉老外大牙
05/13 02:31, 91F
推
05/13 03:01, 5年前 , 92F
謝謝你們看見台灣
05/13 03:01, 92F
推
05/13 08:29, 5年前 , 93F
又指標啦XD
05/13 08:29, 93F
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