TAIEX above 10,000 on trade ceasefire

‘EASED WORRIES’: The agreement gave investors some room to breathe, but that does not mean that the trade spat will be resolved, Fubon Securities’ Michael Kuo said

Taipei Times
Date: Dec 04, 2018
By: Kao Shih-ching  /  Staff reporter

The TAIEX yesterday jumped 2.53 percent to close at 10,137.87 points, breaching 10,000 points for the first time since Oct. 12, after US President Donald Trump and Chinese President Xi Jinping (習近平) on Saturday agreed to suspend new tariffs at the G20 meeting in Argentina.

The weighted index opened higher and rose to 10,055.41 points after two minutes of trading. It continued to climb throughout the session. It ended 249.84 points higher at 10,137.87, from its close of 9,888.03 on Friday.

Turnover was NT$166.84 billion (US$5.43 billion), with foreign institutional investors buying a net NT$5.69 billion of local shares, Taiwan Stock Exchange data showed.

With all sub-indices advancing, the rally was led by Taiwan Semiconductor Manufacturing Co (台積電), the most heavily weighted stock on the local market, which closed up 4.21 percent at NT$235.    [FULL  STORY]

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