MARKET-FRIENDLY:US President Donald Trump announced long-awaited tax cut plans, boosting Asian markets except in Japan, where a rise in the yen slowed gains
Taipei Times
Date: Oct 01, 2017
By: Staff writer, with CNA and AFP
Shares in Taiwan yesterday extended momentum from a session earlier to close higher, but trading volume was reduced substantially on a lack of aggressive presence by foreign institutional investors, dealers said.
Taipei was the only market in the world to open yesterday, when many foreign institutional investors were away for weekend, in a bid to make up for a lost trading session during the Double Ten National Day holiday from Saturday next week to Oct. 10, the dealers said.
Select stocks in the Apple Inc supply chain staged a rebound, led by iPhone assembler Hon Hai Precision Industry Co (鴻海精密), lending support to the broader market, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came off an early high on profit-taking, they said.
The TAIEX yesterday ended up 54 points, or 0.52 percent, at 10,383.94 after moving between 10,362.55 and 10,400.40, with turnover totaling NT$53.52 billion (US$1.77 billion). It had closed at 10,449.68 on Sept. 22, a weekly decrease of 0.6 percent.
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