TAIEX gains 2.04 percent
The TAIEX staged a rally yesterday to hit its highest level in more than six months as Wall Street stood above the 13,000-point mark for the first time since May 19, 2008, dealers said.
On the back of significant gains posted by large-cap stocks in both the high-tech and old economy sectors, the local bourse overcame stiff technical resistance to breach 8,000 points to close above 8,100 points, the dealers said.
The weighted index closed up 162.10 points, or 2.04 percent, on turnover of NT$145.20 billion (US$4.92 billion).
Among the winning electronics stocks, Asustek Computer Inc (華碩電腦) gained 7 percent, the maximum daily increase, to end at NT$276, Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, rose 3.54 percent to end at NT$102.50, and Taiwan Semiconductor Manufacturing Co (台積電) closed up 2.53 percent at NT$81.10. HTC Corp (宏達電) closed up 5.09 percent at NT$661.
TAITRA sending delegation
The Taiwan External Trade Development Council (TAITRA, 外貿協會) yesterday said that it would lead a delegation to South America on Saturday to promote sales of auto parts, watch parts, consumer electronics and textile products.
The delegation will be headed by Wayne Wu (吳文雅), deputy chairman of the semi-official TAITRA, and will seek Taiwan’s expansion into emerging markets, including Brazil, Peru, Ecuador and Chile, which account for 73 percent of Taiwan’s South American market.
Representatives from 55 local small and medium-sized enterprises will take part in the trip and promote Taiwanese bicycles, stationery and home accessories, as well as “green” products such as LED technology and solar energy, the council said.
Exports to South America overall posted a dramatic year-on-year growth of 25.9 percent last year despite the global economic downturn, government statistics show.
Kaohsiung fair opens tomorrow
The Kaohsiung International Travel Fair, set to open tomorrow, will offer visitors the chance to win an almost-free flight ticket to New York to watch a basketball game with Jeremy Lin (林書豪) playing for the New York Knicks, organizers said yesterday.
On the show’s opening day tomorrow, the first 200 visitors will be eligible to take part in a lucky draw that will choose five people for a basketball free-throw contest.
The contestant who scores the most shots within two minutes will be able to buy a round-trip flight ticket between Taipei and New York — which costs around NT$30,000 — for just NT$17.
The travel fair will feature nearly 300 booths and will run through Monday.
NT dollar gains ground
The New Taiwan dollar gained against the greenback yesterday, completing a third monthly advance, as global funds added to holdings of the nation’s shares on speculation economic growth in Asia will outpace the US and Europe this year.
Foreign investors bought US$2.1 billion more Taiwanese stocks than they sold this month, bringing net purchases for this year to US$4 billion, according to exchange data.
“Risk-taking appetite is quite strong,” said James Wang,” a fixed-income trader at Yuanta Securities Co (元大證券) in Taipei. “If stock performances continue to stay strong, there’s a possibility bond yields will rise.”
The NT dollar strengthened 0.6 percent to NT$ 29.420 against its US counterpart from the end of last week, the most since Jan. 31, according to Taipei Forex Inc.
Turnover was US$1.06 billion.
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