Taiwan share prices closed up 0.43 percent yesterday, tracking modest gains on Wall Street while financials continued to fall on profit-taking on news of financial pacts with China, dealers said.The weighted index rose 33.48 points to 7,766.69 on turnover of NT$131.91 billion (US$4.11 billion).
Gainers led losers by 1,595 to 1,034 with 259 stocks unchanged.
The worst performing financial sector fell 0.6 percent on continued profit-taking, after Taipei and Beijing signed three long-anticipated agreements in banking, insurance and securities, dealers said.
Daiwa Securities fund manager David Li expected the market to stage a mild rally to test 7,800 points today on possible government fund support.
"The government may bolster the market before the election" on Dec. 5 when Taiwanese will elect regional government chiefs and councillors.
Chinatrust Financial rose 0.70 percent to NT$20.50 after it announced plans to buy a 30 percent stake in Taiwan's Nan Shan Life Insurance Co. for US$660 million.
Chinatrust last month lost out in a bid to acquire Nan Shan from struggling American International Group, being beaten by a Hong Kong consortium. Advanced Semiconductor Engineering (ASE) shed 2.28 percent to 27.85 while Universal Scientific Industrial was flat at 19.65, after the authorities said they were probing suspected insider trading in ASE's acquisition of company.
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