Share prices closed up 1.32 percent yesterday on anticipation of more investment from China amid rapidly improving ties, dealers said. The weighted TAIEX rose 89.64 points to 6,856.74 on turnover of NT$94.34 billion (US$2.95 billion).
The index fell 0.5 percent for the week. The local stock market opened yesterday to compensate for a holiday last week. In yesterday’s session, gainers led losers by 1,423 to 607 with 157 stocks unchanged.
“There were continued fund flows into the stock market as investors expect more Chinese investments to soon arrive,” Henry Miao (苗台生) of Hua Nan Securities (華南證券) said.
Property developer We & Win Development was limit-up 7 percent to NT$9.18 and Farglory Group rose 6.86 percent to NT$84.2.
United Microelectronics Corp (UMC, 聯電) added 5.73 percent to NT$13.85, the most since May 6, after the world’s second-biggest maker of custom semiconductors sold its final stake in chip designer Mediatek Inc (聯發科).
In a stock exchange filing on Friday, UMC said it sold 871,763 Mediatek shares, a stake of 0.08 percent, between May 21 and Friday, profiting NT$348 million from the transaction. Rival Taiwan Semiconductor Manufacturing Co (台積電) climbed 0.53 percent to NT$57.70.
On the Taipei Forex Inc, the NT dollar lost against the US dollar yesterday, declining NT$0.113 to close at NT$32.72. Turnover was US$328 million.
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