Shares ended higher yesterday after a rise in US stocks overnight. Memory chip issues led the advance on rising product prices.
The TAIEX finished 104.21 points, or 1.7 percent, higher at 6137.26. Turnover was NT$89.42 billion (US$2.7 billion).
Advancers well outnumbered decliners 573 to 188, while 213 issues ended the day unchanged.
The bourse rose nearly 50 points in the last five minutes of trade following the settlement of Taiwan index June futures contracts traded in Singapore.
"The bourse is in a pattern of climbing then resting a little," said Tu Jin-lung (
Among the most active shares, memory-chip maker Nanya Technology (南亞科技) rose 6.9 percent to NT$64.7 because of higher spot prices for memory chips.
AU Optronics Corp (友達光電), which went ex-dividend on Thursday, ended flat at NT$64.5. The company is nation's largest flat panel maker and its stock is considered an indicator of investor sentiment toward the tech sector.
Tu predicted AU Optronics stock will likely remain stagnant for three more sessions before advancing again. Tu also cited a reported 3 percent to 5 percent drop in the panel maker's product prices as a factor in the stock's fall.
The benchmark index is likely to extend its recent gains in the coming week with sentiment expected to be bolstered by improved foreign interest and falling oil prices, analysts said.
Rotational play led by technology and financial sectors was expected to lead the market higher, but there would be short-term resistance at the benchmark index's 6,300 points level, they added.
RSS