Shares closed 1.04 percent higher yesterday, tracking Wall Street's advance last week as concerns over prospects for the US economy eased, dealers said.
They said sentiment on the local bourse was also bolstered by news that the local Public Service Pension Fund had handed out NT$16 billion to four investment trust companies to invest in local stocks.
The TAIEX closed up 99.91 points at 9,717.17 after moving in a range of 9,683.14 and 9,744.97 on turnover of NT$152.37 billion (US$4.69 billion).
Decliners outnumbered risers 1,211 to 662, while 219 stocks were unchanged.
On the foreign exchange market, the New Taiwan dollar closed the day's trading at NT$32.588 against its US counterpart, up NT$0.009 from the previous close of NT$32.597, after the latest inflation statistics reinforced expectations of another interest rate hike by the central bank in December.
Turnover was US$1.478 billion on the Taipei Forex Inc, up from US$556 million on Friday.
"The market moved higher thanks to a timely combination of positive leads from both within and out," said Wilson Lien (連偉勝), a deputy manager at Jih Sun Securities Investment Co (日盛投信).
Lien said that yesterday's gains were mostly concentrated among financial and technology sectors.
Taiwan Semiconductor Manu-facturing Co (
Cathay Financial Holding Co (
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