Stocks advanced yesterday, paced by China Airlines Co (
"The rule change is quite positive for Taiwan airlines given the closer ties across the straits and the increase in Taiwan investments on the mainland," said Tracy Chen, who manages US$76 million in stocks at Prudential Securities Investment Trust Co (保誠投信).
The TAIEX rose 21.85, or 0.4 percent, to 5,645.28. It added 0.1 percent this week, its fourth weekly gain in five. Eight stocks rise for every three that declined.
The futures contract for September delivery advanced 0.3 percent to 5,666.
The value of trade was NT$62 billion (US$1.8 billion), 43 percent lower than the daily average in the past three months.
China Airlines rose NT$0.50 cents, or 3.7 percent, to NT$14. EVA gained NT$0.55, or 4.3 percent, to NT$13.35.
China Development Financial Holding Corp (
China Development chairwoman Diana Chen (陳敏薰) said Wed-nesday the company has ``many candidates in mind.''
China Development also said it will return to profitability next year. The stock added NT$0.20, or 1.7 percent, to NT$12.25.
Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電) led declines in electronics-related shares after some investors said its rally of as much as 22 percent in the past one month may have outstripped profit potential.
TSMC, the world's largest supplier of made-to-order chips, fell NT$1.50, or 2.2 percent to NT$68. United Microelectronics Corp (UMC,
The relative strength index, derived by averaging out daily gains and losses, was 76 for shares of UMC on Wednesday. Some traders and investors use the index to predict when gains or losses in a security are set to change direction. A reading above 70 suggests prices are poised to fall.
Shares in notebook computer makers rose on better prospects for shipments. Quanta Computer (
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