Taiwan shares bounce back strongly to end above 11,500 points

Focus Taiwan
Date: 02/04/2020

By: Frances Huang

Taipei, Feb. 4 (CNA) Shares in Taiwan made a strong technical rebound Tuesday to close above 11,500 points, as investors took cues from gains on the United States and Shanghai markets, dealers said.

While concerns lingered over the Wuhan coronavirus epidemic, the bellwether electronics sector attracted bargain hunting, helping to boost the broader market by more than 200 points by the end of the session, dealers said.

The weighted index on the Taiwan Stock Exchange (Taiex) ended up 201 points, or 1.77 percent, at 11,555.92, after moving between 11,393.03 and 11,581.36. Turnover totaled NT$159.7 billion (US$5.28 billion) during the session.

The market opened up 0.39 percent in reflection of an upturn on the U.S. markets Monday, when the Dow Jones Industrial Average closed up 0.51 percent, rebounding from a slump of about 2 percent slump in the previous session as investors were buying the dips, dealers said.    [FULL  STORY]

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