Taiwan shares soar on hopes of government intervention

Focus Taiwan
Date: 2015/08/25
By: Frances Huang

Taipei, Aug. 25 (CNA) Shares in Taiwan staged a strong technical rebound and moved sharply higher Tuesday, as investor confidence was buoyed by expectations that the National Financial Stabilization Fund would enter the market to prop up share prices, dealers said.

The bellwether electronics sector stoked the rally, with market heavyweights such as contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) and smartphone camera lens supplier Largan Precision Co. (大立光) leading the way.

Bargain hunters also chased financial stocks to push up the index even further, they said.

The weighted index on the Taiwan Stock Exchange (TWSE) closed up 265.30 points, or 3.58 percent, at 7,675.64, after moving between 7,368.47 and 7,677.93, on turnover of NT$120.52 billion (US$3.70 billion).      [FULL  STORY]