Share prices closed 0.77 percent higher yesterday as bargain-hunting in technology bellwethers reversed early declines, dealers said.
The weighted index rose 50.68 points to 6,612.97, off a low of 6,540.71 and a high of 6,613.86, on turnover of NT$85.16 billion (US$2.63 billion).
The electronics sector was up 1.16 percent, plastics and petrochemicals up 0.92 percent, cement up 0.82 percent and paper up 0.78 percent.
"The market continued to undergo rangebound consolidation as buying interest shifted, with technology bellwethers regaining momentum," SinoPac Securities Corp (
He said it remains unclear whether the market is prepared to move past its recent pattern of sideways trading and head up.
"Fundamentals remain the same, that is, most technology firms have yet to cope with a seasonally weaker first quarter after a rosy fourth quarter," he said.
AU Optronics Corp (友達光電) closed up NT$0.70 at NT$53.20, Chi Mei Optoelectronics Corp (奇美電子) up NT$1 at NT$50.50 and Quanta Display Inc (廣輝電子) up NT$0.30 at NT$11.95 on a report on their chances of winning more LCD TV panel contracts from Japan's Sharp and South Korea's Samsung Electronics and LG Philips.
Taiwan Semiconductor Manu-facturing Co (台積電) was down only NT$0.10 at NT$62.30, having recovered from early declines due to the overnight losses of its American depositary shares.
Chunghwa Telecom (
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