The nation's stocks gained for a sixth day in a row yesterday. High Tech Computer Corp (HTC, 宏達電) led rises among exporters after the US unemployment rate unexpectedly dropped, easing concerns demand would slow in the world's largest economy.
The TAIEX index rose 51.95, or 0.7 percent, to close at 8056.56 in Taipei. The measure gained 3.4 percent in six sessions, its longest winning stretch since a 10-day advance ended on Nov. 27.
"The US is the world's biggest market, so the healthier its economy, the better the business prospects for Asian exporters,'' said Liu Juming, who helps manage US$1.7 billion at Ta Chong Investment Trust Corp (大眾投信) in Taipei.
HTC, the world's biggest maker by volume of handsets based on Microsoft Corp's Windows operating system, rose NT$12, or 2.4 percent, to NT$518.00
Flat-panel display maker Innolux Display Corp (
US unemployment fell to 4.4 percent last month, the Labor Department said last Friday, matching a five-year low attained in October. The US is Taiwan's second-largest export destination after China.
Meanwhile, Stanley Hsu, a manager at First Taisec Securities (一銀證券), attributed Monday's gains to positive sentiment arising from the market's successful breaching of the 8,000 points level in the previous session.
"The market's success in challenging the 8,000 points attracted further buying in stocks today," he said.
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