OUTSIDE HELP:Foreign institutional investors bought NT$25.93 billion worth of shares last week as they moved funds into Asia, betting on a weaker US dollar

Taipei Times
Date: Sep 26, 2016
By: Staff writer, with CNA

The stock market will likely encounter technical corrections in the near future after a strong showing over the past week thanks to aggressive foreign institutional buying, Taishin Securities Investment Trust Co (台新投信) fund manager Wei Yung-hsiang (魏永祥) said.

Selling might soon prevail because of worries over a stronger New Taiwan dollar, which could hurt exporters’ profits, especially in the high-tech sector, he said.

The TAIEX ended last week up by 382.32 points, or 4.29 percent, at 9,284.62, its highest level since May 3, when it ended at 9,294.12.

Taiwan Semiconductor Manufacturing Co (台積電) led the gains, rising more than 8 percent to NT$187.50 on Friday. Its market capitalization was up NT$360 billion (US$11.5 billion) last week.     [FULL  STORY]