Local shares exceed 9,200-point mark after US market rebound

The China Post
Date: October 4, 2016

TAIPEI–Shares in Taiwan closed higher Monday following a rebound in the U.S. stock market, with the weighted index surpassing the 9,200-point mark.

The weighted index on the Taiwan Stock Exchange (TWSE) ended up 67.35 points, or 0.73 percent, at 9,234.20 on Monday, reflecting nearly 1 percent gains in the Dow Jones Industrial Average and the Nasdaq on Friday.

Turnover totaled an anemic NT$54.76 billion (US$1.75 billion) during the session.

Trading in old economy stocks was mixed. Formosa Plastics Corp. (台塑) rose 0.51 percent to NT$78.20, even though the Formosa Plastics Group’s steel unit in Vietnam came under pressure on Sunday from local fishermen over pollution they say has destroyed their livelihoods.

Plastics stocks rose 0.25 percent, while stocks in the food and paper-making sectors surged by over 1 percent respectively. The glass sector sub-index slid 0.23 percent, and the automobile sector sub-index dropped 0.88 percent.     [FULL  STORY]

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