Local market gains over 1% as semiconductor stocks rebound

The China Post
Date: April 17, 2015
By: CNA

TAIPEI, Taiwan — Shares in Taiwan closed up more than 1 percent Thursday as the semiconductor sector staged a strong technical rebound following gains on the Philadelphia Semiconductor Index overnight, dealers said.

Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) led the rebound as bargain hunters took advantage of the stock’s relatively low valuation after recent consolidation ahead of an investor conference scheduled to kick off following the market close, the dealers said.

While the high-tech sector attracted bargain hunting, the financial sector also steamed ahead, lending further support to the broader market amid optimism toward financial holding companies’ profitability, they added.     [FULL  STORY]

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