Stocks rose, giving the TAIEX its biggest weekly jump since August. Hon Hai Precision Industry Co (
Stocks also gained after the High Court upheld President Chen Shui-bian's (
"The drop in oil prices eases uncertainties for corporate profitability next year," said Kevin Yang, who manages the equivalent of US$90 million as vice president of International Investment Trust Co (
"Rejecting the petition means political stability that investors prefer," he said.
The TAIEX added 70.58, or 1.2 percent, to close at 5,931.3. It gained 4 percent in the past five sessions, the biggest weekly advance since Aug. 20. About four shares rose for each one that fell. Futures due in November gained 1.4 percent to 5,920.
Crude oil fell 0.4 percent to US$48.61 a barrel, the lowest since Sept. 23, in Asian trading hours on the New York Mercantile Exchange. The December contract slid 4.1 percent on Thursday.
Hon Hai, the nation's biggest electronics company by sales, gained NT$3, or 2.4 percent, to NT$130.50. Taiwan Semiconductor Manufacturing Co (TSMC,