Stocks closed up 0.42 percent yesterday but were off the early highs as profit-taking trimmed the gains made on Wall Street's steady performance overnight, dealers said.
They said investors remain cautious given the continuing fallout from the disputed presidential elections and although the market has recovered some lost ground, there is not enough support to push it ahead sharply.
"A pause after the strong rebound from around 6,000 points on the benchmark index is not that surprising," Jih Sun Securities Investment (日盛投顧) assistant vice president Michael Hsu (許派一) said.
The TAIEX added 27.48 to 6,522.19, off a high of 6,569.56 and a low of 6,482.81, on turnover of NT$135.99 billion (US$4.11 billion).
Decliners led risers 459 to 388, with 130 stocks unchanged. A total of 58 stocks closed limit-up and seven limit-down.
"Political disturbances will subside gradually, allowing investors to reevaluate stocks based on their fundamentals," said Edward Tseng (
"Companies will start to report their first-quarter earnings starting tomorrow and that will help dilute impacts of political unrest," he said.
China Development Financial Holding Corp (中華開發金控) rose 6.7 percent to NT$19.20. The nation's fifth-largest financial company by market value, gained after media reports that its chairwoman Diana Chen (陳敏薰) may be ousted by KGI Securities Co (
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