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TAIEX closes above 6,000 mark on strong sales figures

Share prices rose 1.45 percent yesterday to close back above the key 6,000 points level, supported by strong corporate sales figures last month and continued foreign investor interest, dealers said.

They said gains on Wall Street overnight added to the positive tone, with foreign investor support then giving a strong lead to their local counterparts.

The weighted index closed up 86.89 points at 6,075.26, the high for the day and the best finish since Oct. 7, on turnover of NT$92.73 billion (US$2.77 billion).

Risers led declines 785 to 250, with 158 stocks unchanged.

A total of 27 stocks closed limit-up, while 11 others were limit-down.

The construction sector was up by 2.49 percent, steel rose by 2.28 percent, financials by 1.80 percent and electronics added 1.66 percent.

"Investors apparently took note from the strong showing on Wall Street," said Stanley Hsu, a manager with First Taisec Securities (一銀證券).

"Foreign investors' buying [on Thursday] convinced [local] investors to increase their exposure to the local bourse," he said.

At the same time as dealers reported foreign investor interest, they also noted the possibility that government-related funds may also have been providing support.

Taiwan Semiconductor Manufacturing Co (台積電) gained NT$1.10 to NT$57 while United Microelectronics Corp (聯電) rose NT$0.65 to NT$19.20, with the world's two top chip wafer foundries attracting foreign investors again.

Hon Hai Precision Industry Co (鴻海精密) closed up NT$3.50 at NT$160 after a sharp rise in last month's sales figures.
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