The China Post
September 2, 2010
TAIPEI — Taiwan share prices closed up 0.68 percent yesterday on a technical rebound after heavy losses in the previous session, dealers said.
The weighted index rose 51.97 points to 7,668.25, after moving between 7,625.72 and 7,679.43, on turnover of NT$106.59 billion (US$3.33 billion).
The market opened up 0.36 percent as investors took advantage of low valuations as a result of the previous day’s dive, and bargain hunters became more active during the trading session, largely picking up traditional industrial stocks to push the index higher, the dealers said.
A total of 2,515 stocks closed up and 1,150 were down, with 267 remaining unchanged.
The construction sector posted the highest gains, up 4.08 percent. Paper and pulp stocks rose 2.54 percent, cement shares gained 1.57 percent and foodstuffs added 1.17 percent.
The textile sector closed up 0.95 percent, and the plastics and chemical sector was up 0.71 percent, while financials gained 0.68 percent, and machinery and electronics stocks rose 0.34 percent.
“Yesterday’s gains were just technical in nature after Tuesday’s fall,” TLG Asset Management analyst Arch Shih said. [FULL STORY]
