Sun, Jan 18, 2009 - Page 11 News List

Taipei follows Wall Street to gain 0.28% in thin trade

SQUARING POSITIONS Plastics and financials ended yesterday higher, while the tourism and electronics sectors lost ground as the TAIEX edged up to 4,366.1

AFP AND BLOOMBERG , TAIPEI

Taiwan shares closed up 0.28 percent yesterday in thin trading following Wall Street’s overnight gains, dealers said.

The weighted index rose 12.4 points to 4,366.1 on turnover of NT$33.57 billion (US$1.02 billion).

The market opened yesterday to make up for fewer trading days later this month because of the Lunar New Year holidays.

Gainers led losers by 725 to 711 with 293 stocks unchanged.

A total of 14 shares closed limit-up 7 percent, against 11 that were limit-down.

Plastics rose 1.74 percent and financials gained 1.4 percent, while tourism shed 1.19 percent and electronics lost 0.21 percent.

KGI Securities (凱基證券) trader Randy Chang expected shares to continue consolidating next week before markets close on Thursday for Lunar New Year until Feb. 1.

“Investors generally have squa­red their positioned and are just on the sidelines before the long holiday,” he said.

AU Optronics Corp (友達光電) added 0.4 percent to NT$24.50 and Chi Mei Optoelectronics Corp (奇美電子) gained 6.8 percent to NT$11 after Taiwan’s largest ­liquid-­crystal-display producers said they extended supply agreements with Chinese television makers, benefiting from China’s policy of subsidizing electrical appliances bought by its farmers.

HTC Corp (宏達電) gained 0.3 percent to NT$317 after the world’s largest maker of handsets using Microsoft Corp and Google Inc operating systems said revenue would climb at least 10 percent this year as sales of Microsoft-based phones continue to outpace those using the rival Google software.

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