Taiwan Stock Market Rises 1.3 Percent
This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-10-29
The Weighted Price Index of the Taiwan Stock Exchange rose 125.64 points, or 1.33 percent, to 9,568.26 points.
Andrew Teng of Taiwan International Securities said local investors gave substantial support to Taiwan shares.
"Though the Taiwan market has been hurt by volatile U.S. stocks these days, there is still strong bargain-hunting power from local investors," Teng said.
The financial sector gained 1.9 percent. Cathay Financial Holdings gained 2.2 percent to NT$80.20, while Yuanta Financial Holdings went up 5.5 percent to NT$22.95.
Meanwhile, leading tech company TSMC gained 0.5 percent to NT$61.10. However, after the market closed it posted third-quarter net profit of NT$30.37 billion, lower than the market expectation of NT$31.73 billion.
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