Taiwan shares are expected to gain ground on improved sentiment in the week ahead after the market staged a strong showing yesterday with many investors rushing to pick up stocks at lows, dealers said.
The reduced uncertainty on possible military conflicts between the US and Iraq is also expected to court more investors to return to the trading floor, the dealers said.
TAIEX added 147.97, or 3.2 percent, to close at 4813.53. About 11 shares gained for each one that fell. Trading was worth NT$119.1 billion (US$3.4 billion).
"It has been positive for the market to score an expanded daily turnover of more than NT$100 billion (US$2.9 billion) later this week. More and more investors are willing to build up their positions at the moment," said Huang Kuo-wei, an analyst with Yuata Core Pacific Capital Management (
"Both institutional and retail investors have been active in the market, indicating sentiment is improving," Huang said.
Formosa Chemical & Fibre Corp (
Inventec Co (英業達) rose NT$0.60, or 2.9 percent, to NT$21.20. Taiwan's Ministry of Economic Affairs' Investment Commission approved the notebook computer maker's plan to invest NT$33.5 million in Shanghai.
Taiwan Cellular Corp (
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