Taiwan shares break through 9,400 point mark

Taipei--Shares in Taiwan ended up on Monday, with the weighted index passing the 9,400-point barrier, dealers said, attributing the rise to gains in the American stock market after the inauguration of U.S President Donald Trump.

Boosted by the Taiwan dollar's appreciation and a buying atmosphere, the local bourse is expected to continue to make gains before closing for the six-day Lunar New Year holiday, which begins on Jan. 27, dealers said, citing predictions by investment consulting analysts.

The weighted index on the Taiwan Stock Exchange closed up 92.59 points, or 0.99 percent, at 9,424.05, after moving between 9,363.66 and 9,427.46, on turnover of NT$73.27 billion (US$2.33 billion).

All eight major stock categories: paper-making, plastics, textiles, finance, electronics, construction, cement and foods recorded gains, led by a rise of 1.96 percent in the paper industry.

Shares in Taiwan Semiconductor Manufacturing Co. (???), one of the large-cap stocks on the market, grew 2.21 percent to end the day at NT$182.9 per share.

Meanwhile, shares in smart phone camera lens supplier Largan Precision Co. (???), the most valuable stock on the market, surged to a historic high of NT$4,455 per share, before finishing 0.8 percent lower at NT$4,355.

Prompted by its revelation that it is considering investing in panel manufacturing in the United States, shares in Hon Hai Precision Industry Co. (??), an assembler of iPhones and iPads, increased 0.72 percent to end at NT$84.

Shares in Taiwan Cement Corp. (TCC, ??) fell during the trading session after reports on the death of TCC Group Chairman Koo Cheng-Yun (???), before rebounding to close 2.29 percent higher at NT$35.75.

Source: Focus Taiwan News Channel