Should Taiwan Investors Be Afraid Of Heights?

Stocks are at near-record levels--and looking pretty solid

The Taiwan Stock Exchange, never a market for the timid, is testing investors' mettle again. The TWSE index is up 43% already this year and shows few signs of pausing. Leading the charge are Taiwan's fast-growing electronics companies, which have soared 216% this year as exports surge. On July 29, even as other East Asian exchanges dithered, Taipei's hectic market briefly pierced its 10,000 mark for the first time since 1990.

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