The TAIEX rose yesterday as concern eased after Wednesday's announcement of the first case of SARS in the country for about six months. Taiwan Semiconductor Manufacturing Co (台積電) and China Steel Corp (中鋼) led gains.
The TAIEX rose 16.75, or 0.3 percent, to 5,768.76, on turnover of NT$59.60 billion (US$1.75 billion).
Gainers outnumbered decliners 416 to 301, while 218 issues finished the session unchanged. The Taiwan futures index gained 0.2 percent to 5,783.
"It was an isolated case," said Celine Chiang (
TSMC and rival United Microelectronics Corp (聯電) attracted interest from government funds and foreign investors. TSMC rose NT$0.50, or 0.8 percent, to NT$60. The shares lost 2.5 percent on Wednesday. China Steel added NT$0.40, or 1.5 percent, to NT$27.90, after Wednesday's 1.4 percent decline.
Kai Yuan Securities president Tom Tang said confidence has yet to fully recover because investors are more likely to want to wait and see how the latest SARS case turns out.
However, he did not rule out possibility of further rebounds in Taiwanese shares, if Wall Street puts on a strong showing.
Health-care-related companies lost steam after the government revealed its inventory of equipment to combat SARS. Kang Na Hsiung Enterprise Co (
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