Taiwan's stock market recorded its largest single-month point decline in history in July, falling a cumulative 3,006 points as both prices and trading volumes weakened. The securities transfer deposit balance, widely regarded as a retail investor barometer, dropped NT$241.3 billion, or approximately $7.6 billion, to NT$4.18 trillion, or approximately $131.4 billion. That was a four-month low, the largest monthly decline since December last year and the second consecutive monthly fall. Margin balances also retreated to NT$673.5 billion, or approximately $21.2 billion, from more than NT$800 billion, or approximately $25.1 billion, in June. Liu Shu-min, Executive Officer of the Central Bank's Department of Economic Research, said retail investors are generally more sensitive to short-term volatility than institutions and may exit earlier. Domestic individual investors' share of turnover fell below 50% to 48.9% from 51.5% in June, while domestic institutional and foreign institutional shares rose to 12% and 39.1% as the overall market turnover base contracted. Foreign investors' NT dollar deposits nonetheless rose to NT$312.5 billion, or approximately $9.8 billion, the highest since June 2021, suggesting some capital remained in Taiwan awaiting a possible re-entry rather than being immediately remitted abroad. July M1B annual growth fell to 7.34% and M2 growth to 7.42%. Foreign currency deposits reached a record NT$9.59 trillion, or approximately $301.4 billion, supported mainly by strong exports and manufacturers' sales proceeds. Annual growth in loans and investments at all monetary institutions rose to 9.07%, while the adjusted rate for all financial institutions increased to 7.40%.