Shares ended modestly higher yesterday, led by a surge in dynamic random-access memory (DRAM) chipmakers after a bullish second-half outlook by a US industry giant.
However, overall trade remained lackluster ahead of a US Federal Reserve meeting next week.
The TAIEX finished 23.46 points, or 0.4 percent, higher at 5,802.55 in dealings that were valued at NT$75.28 billion (US$2.2 billion). Advancers narrowly outnumbered decliners 361 to 355, while 223 issues ended the day unchanged.
"The bourse is hanging in a short-term balance before moving on the [expected] Fed rate hike next week," said Alan Tseng (曾炎裕), a vice president at Capital Securities Corp (群益證券).
The central bank left its key interest rate unchanged at a record low to help the economy amid signs a mainland government clampdown on industrial expansion in China will hurt exports.
"The central bank's `no' move eases worries over an imminent interest rate increase that would slow economic growth," said Michael On, who manages the equivalent of US$30 million in his capacity as managing director of Beyond Asset Management Co in Taipei.
The nation's largest DRAM maker, Powerchip Semiconductor Corp (力晶半導體), closed 3.9 percent higher at NT$26.5, while ProMOS Technologies Inc (茂德科技) jumped 3.4 percent to NT$18.3 after US giant Micron Technology Inc gave a bullish second-half outlook late on Wednesday.
Nanya Technology Corp (南亞科技), a main board-listed DRAM stock, rose 1.6 percent to NT$25.2.
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