Share prices closed 0.24 percent higher in active trade yesterday, with sentiment supported by institutional investor interest and further bolstered by Wall Streets' overnight gains, dealers said.
Despite some profit-taking and expectations of technical resistance around 6,800 points, the market closed in positive territory on the prospects for further growth in corporate earnings in the second quarter after a robust first quarter.
The TAIEX closed up 16.55 points at 6,794.33, on turnover of NT$184.31 billion (US$5.6 billions).
Risers led decliners 442 to 382, with 148 stocks unchanged. Some 51 stocks closed limit-up, with two limit-down.
The glass sector was up 6.05 percent, cement up 2.88 percent and financials up 0.14 percent.
The auto sector was down 0.31 percent and electronics off 0.02 percent.
"Investors have gradually become used to the political uncertainties [following the March 20 election] and have shifted focus to the fundamentals," said Michael On, president at Beyond Asset Management.
Some investors were cautious ahead of US first quarter results reports while others bought in on hopes for a strong second quarter.
"There may be technical resistance and profit-taking in the near term but the index is poised to test 7,000 points this quarter on the back of [a strong] economic and corporate performance," On said.
Taiwan Semiconductor Manufacturing Co (台積電) lost NT$0.50 at NT$60.50 and United Microelectronics Corp (聯電) was down NT$0.20 at NT$31.70.
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