Taipei-Shares in Taiwan climbed Thursday for the sixth consecutive session, remaining above the 10,800-point mark, as local investors were encouraged by a higher Wall Street overnight.
The Taiwan Stock Exchange's main index closed up 47.06 points, or 0.44 percent, at 10,848.63 after moving between 10,794.25 and 10,853.46. Turnover totaled NT$142.83 billion (US$4.83 billion).
Following sharp gains on Wall Street, the local market opened up 33.01 points at 10,834.58 before selling emerged, pushing the index down below 10,800 points at one point.
However, the index largely remained above the 10,800-point mark and moved even higher by the end of the session.
Almost all the major stock categories gained ground, except for the construction, paper and pulp and cement sectors.
Gainers outnumbered losers 457 to 332, with 119 stocks remaining unchanged.
In the electronics sector, contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock on the local market, gained 1.05 percent to close at NT$239.50.
Largan Precision Co., a smartphone camera lens supplier to Apple Inc., fell 0.24 percent to close at NT$4,135.00.
Hua Nan Securities Co. Chairman David Chu (???) said the gains on the local bourse were driven mainly by strong showings of U.S. stocks.
If the Taiwan dollar maintains its strength and foreign institutional investors continue to buy Taiwan stocks, the market is likely to remain on a rising streak, he said.
Foreign institutional investors bought a net NT$5.45 billion worth of shares on the main board Thursday, according to the Taiwan Stock Exchange (TWSE).
Source: Focus Taiwan News Channel