TAIEX tops 10,600 on trade deal hopes

Taipei Times
Date: Mar 31, 2019
By: Staff writer, with CNA and AFP

OPTIMISM:Investors have chosen to remain upbeat on the possibility of the US and China soon reaching an agreement to end their long-running row and reduce tariffs

Local shares on Friday moved higher to close above 10,600 points amid optimism over a possible resolution between the US and China on their trade dispute, which boosted US markets overnight, dealers said.

The bellwether electronics sector led the upturn, particularly in late trading, pushing up the broader market by more than 100 points by the end of the session, the dealers said.

The TAIEX on Friday ended up 104.78 points, or 0.99 percent, at the day’s high of 10,641.04, after moving to a low of 10,525.27 on turnover of NT$120.99 billion (US$3.93 billion). That was the highest close this year, just slightly up from 10,639.07 on March 22.

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