Taiwanese securities companies are expected to maintain strong earnings momentum this year after a solid recovery last year, Fitch Ratings reported. The sector’s aggregate net profit rose 77.41% year-on-year to TWD68.71bn (USD2.12bn) last year, reversing a 63.27% decline the previous year, with return on equity increasing to 10.9% from 6.1% in 2022. Fitch attributed the strong performance to improved capital market sentiment, buoyed by slower US interest rate hikes and investor interest in technology stocks, especially AI-related equities. Higher brokerage and investment banking income also contributed to earnings recovery. Fitch expects earnings strength to persist in 2024, supported by strong corporate financing demand and consistent trading performance.