Local shares end higher on Wall Street gains

The China Post
Date: September 30, 2016

TAIPEI–Shares in Taiwan closed higher Thursday to push the weighted index past the 9,200-point mark as investors here were encouraged by a rally on Wall Street overnight to play catch-up on the local equity market, dealers said.

The bellwether electronics sector remained a driver that boosted the broader market, led by market heavyweights such as contract chip maker Taiwan Semiconductor Manufacturing Co. (台積電), while financial stocks also posted gains on bargain hunting, leading the index to move higher at the close, the dealers said.

The weighted index on the Taiwan Stock Exchange (TWSE) closed up 76.38 points, or 0.83 percent, at 9,270.90, after moving between 9,238.49 and 9,303.13, on turnover of NT$87.88 billion (US$2.81 billion).

The market opened up 0.51 percent in a knee-jerk reaction to a higher Wall Street, where the Dow Jones Industrial Average closed up 0.61 percent and the S&P 500 index ended 0.53 percent higher on a strong rebound in international crude oil prices, the dealers said.     [FULL  STORY]

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