Continued growth seen in Taiwan stock market
Taiwan News, Staff Writer
2014-03-26 12:01 PM
The Taiwan stock market has moved upward by more than 110 points or 1.3 percent in several days of energetic trading. The Taiwan Stock Exchange (TSE) stood slightly below the 8,690-point mark at the close of trading day Tuesday as most observers looked for the upward trend to continue at least for the next day or so.

Generally positive economic data has most markets around the globe feeling upbeat, and traders in Asian markets are cautiously eyeing improved conditions as a result. Markets in the West finished sharply up on Tuesday, and Asian markets are expected to continue the trend as trading opens on Wednesday.

On Tuesday activity in the TSE was buoyed by bargain hunting as investors picked out stocks offering promising gains in the wake of a week-long slide last week. Activity was particularly hot in the areas of financial shares and technology stocks. The index climbed 83.92 points or 0.97 percent during the day and finished at 8,689.30 following a bout of trading between 8,589.19 and 8,689.30. Turnover for the day hit NT$82.18 billion.

Among the gainers were Soft-World International and Cayenne Entertainment Technology, which both surged by the 7 percent daily limit, while Cathay Financial Holding rose 1.5 percent.

Momentum gathered from heightened activity on Wall Street helped push stocks to finish mostly higher on Tuesday despite a number of fluctuations throughout the day. Positive reactions to the latest release of US economic data also helped the market recover from pullbacks seen in the previous two sessions.

The Dow climbed 91.19 points or 0.6 percent to 16,367.88, while the NASDAQ edged up 7.88 points or 0.2 percent to 4,234.27 and the S&P 500 rose 8.18 points or 0.4 percent to 1,865.62.

Some recent data has indicated that the economy may be poised to break out of its winter-long slump, but traders seem to be waiting for more concrete signs of a recovery to emerge.

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