Taiwanese share prices are expected to stabilize next week centered on electronics as sentiments are boosted by rising sales of the world's largest two semiconductor makers, which are based in Taiwan, dealers said on Friday.
The TAIEX rebounded 52.31 points on Friday following reports by Taiwan Semiconductor Manufacturing Co (台積電) and United Microelectronics Corp (聯電) of rises in their sales last month, reversing three consecutive falls in the holiday-shortened week.
"Sales reports by some major US firms such as Apple and IBM due next week are certainly factors determining performance of the market next week, but we do not expect dramatic falls even if results are not encouraging," said Huang Hsun-huei, an analyst with Capital Securities Co (
Huang said next week would see rotational plays of selected electronics stocks, especially thin-film-transistor liquid-crystal-display (TFT-LCD) panel stocks and the semiconductor sector.
"Many investors are switching to the electronics industry from petrochemicals, financials and some sectors which had gained for some time. But transport stocks will remain attractive," Huang said.
For the week ending April 8, the TAIEX lost 4.68 points or 0.08 percent to 6,024.07 after a 0.38 percent fall the previous week. Average daily turnover expanded to NT$70.10 billion (US$2.19 billion) from NT$63.81 billion.
The market is expected to stabilize next week if no negative leads arise from cross-strait ties, he said.
"If the Taipei government is to impose some controls over cross-strait business ties, then the vulnerable market is sure to suffer," Huang said.
Taiwanese share prices closed 0.88 percent higher on Friday after gains on Wall Street and hopes for improvement in selected industries in the current quarter, dealers said.
The TAIEX closed up 52.31 points at 6,024.07, having moved between 5,997.29 and 6,028.55, on turnover of NT$62 billion. A total of 12 stocks closed limit-up and six limit-down.
Regional markets
Regional share prices followed Wall Street's lead and rose on Friday as investors returned on falling oil prices as well as mildly positive news for some regional economies.
The gains on major markets in the region mirrored those seen on Wall Street overnight, where the Dow Jones Industrial Average rose 0.58 percent and the tech-heavy NASDAQ composite climbed 0.98 percent after oil prices fell sharply.
Investors also drew comfort from better-than-expected economic data in Japan and positive sentiment ahead of corporate earnings reports.
The only markets that failed to gain ground were Bombay, where investors sold stocks on uncertainty ahead of the corporate reporting season, and Jakarta, which ended the day flat.
Japanese share prices closed 0.54 percent higher after stronger-than-expected figures for machinery orders provided comfort after recent negative data, dealers said.
The Tokyo Stock Exchange's benchmark NIKKEI-225 index rose 63.76 points or 0.54 percent to 11,874.75. The broader TOPIX index of all first section shares added 4.49 points or 0.38 percent to 1,201.32.
Hong Kong share prices closed 0.47 percent higher as Wall Street's gains and a continued fall in oil prices boosted sentiment, with Macau concept stocks leading trading activity, dealers said.
The Hang Seng Index closed up 64.37 points at 13,666.72, after moving within 13,636.35 to 13,686.99 points.
The Hang Seng China Enterprises Index was up 31.13 points or 0.64 percent at 4,891.78.
South Korean share prices closed 0.33 percent higher, with investor sentiment improving due to falling oil prices and a strong rally on Wall Street, dealers said.
The KOSPI index closed up 3.27 points at 992.17.
Chinese share prices closed 1.89 percent higher on continued bargain hunting with airline firms snapped up due to retreating crude prices, dealers said.
The Shanghai A-share Index advanced 24.26 points to 1,309.54, while the Shenzhen A-share Index was up 5.75 points or 1.79 percent at 326.33.
The benchmark Shanghai Composite Index closed up 23.03 points or 1.88 percent at 1,248.52.
Australian share prices closed up 0.91 percent as resources and a positive lead from Wall Street pushed the market higher, dealers said.
The benchmark SP/ASX 200 closed up 37.7 points at 4,165.5 while the broader All Ordinaries index ended up 36.1 points at 4,148.5.
Singapore share prices closed 0.26 percent higher amid positive sentiment ahead of the first-quarter earnings season, dealers said.
The Straits Times Index closed up 5.55 points at 2,181.94.
Thai share prices closed 0.85 percent higher on late local institutional buying in the energy and banking sectors, analysts said.
The Stock Exchange of Thailand composite index rose 5.79 points to close at 683.76 points while the blue-chip SET 50 index was up 0.46 points at 47.58.
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