Taiwan shares end above 9,300 points

Taipei-Shares in Taiwan ended higher Tuesday, closing above the 9,300-point mark, but turnover remained thin as many investors remained cautious ahead of the inauguration of Donald Trump as president of the United States on Jan. 20, dealers said.

Bolstered by strong showings by electronics and paper and pulp stocks, the Taiwan Stock Exchange's weighted index closed up 62.20 points, or 0.67 percent, at the day's high of 9,354.53, after falling to a low of 9,294.68.

Turnover was only NT$57.01 billion (US$1.81 billion) on Tuesday, following turnover of NT$57.26 billion the previous day.

But foreign institutional investors were net buyers of NT$4.32 billion in shares to help drive the broader market higher.

In the electronics sector, Largan Precision Co. (???), a smartphone camera lens supplier to Apple, rose 3.53 percent to close at NT$4,400.00 after the company reported late last week a record net EPS of nearly NT$170 for the fourth quarter of 2016.

Flat panel maker Innolux Corp. (??) gained 0.39 percent to end at NT$12.85, contributing to an overall 2 percent rise in the optoelectronics sector.

Another flat panel maker, AU Optronics Corp. (??), closed unchanged at NT$12.85.

In the paper sector, which closed up 3.6 percent on the back of product price hikes, Long Chen Paper Co. (????) soared 6.68 percent to end at NT$22.35 after having hit a nearly 20-year-high of NT$22.9 during the session.

Its subsidiary, Pao Long International Co. (??), rose by the maximum allowed daily increase of 10 percent to end at NT$23.95.

Boryi Chien (???), a manager at Cathay Securities Co. (????), said that although the market saw a strong rebound, turnover remained thin on Tuesday.

He predicted that turnover will increase early next week and the market will be more volatile before the exchange shuts down on Jan. 25 for the Lunar New Year holiday.

Chien suggested that investors pay close attention to the impact of Trump's inauguration on markets in the U.S. and Taiwan.

Source: Focus Taiwan News Channel