Shares closed 0.40 percent higher yesterday on a technical rebound after a five session losing streak, with hopes of a year-end bounce prompting investors to resume buying, dealers said.
They said the market opened firmer but quickly fell into negative territory on worries over recent foreign investor selling, before regaining momentum in late trade on bargain-hunting.
The TAIEX closed up 30.11 points at 7,480.41, on turnover of NT$95.99 billion (US$3.0 billion). Risers led decliners 844 to 328, with 205 stocks unchanged.
On the Taipei Forex Inc, the New Taiwan dollar ended NT$0.035 lower at NT$32.557 against the US dollar, on turnover of US$682 million.
"The stock market had lost ground for five consecutive sessions, leaving room for a technical rebound today," said Kevin Chung (鐘國忠), a deputy manager with Jih Sun Securities Investment Consulting Co (日盛投顧).
Hopes for technical support at around 7,500 points on the index also attracted interest to build portfolios at lows, he said.
"Domestic investors may be willing to raise exposure to the stock market on expectations of liquidity-driven interest and year-end window-dressing activities," he added.
United Microelectronics Corp (
Taiwan Semiconductor Manufacturing Co (
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