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Taiwan stocks surge to erase anti-service trade shadow
Taiwan News, Staff Writer
2014-03-25 05:55 PM
The Taiwan Stock Market opened low and trended high Monday closing up 83.92 points, or +0.98%, at 8689.30 points. Turnover was NT$82.17 billion. The OTC market erased recent losses closing up 3.05 points, or +2.16%, at 143.99 point. Turnover was NT$29.79 billion.

After being oppressed by the anti-service trade crisis in recent days, Taiwan stocks opened slightly lower on Tuesday at 8589.19 points. A wave of buying pushed the market higher as recently correcting small-caps rebounded. Coupled with the steady rise of mid and large cap weighted stocks and favorable performance from traditional industry shares, the entire market maintained its momentum and erased prior losses.

Changes in Taiwan’s eight major stock categories Monday: cement stocks rose 2.2%, food stocks rose 0.7%, petrochemical stocks rose 1.1%, textile stocks rose 1.0%, machinery and electronics stocks rose 1.0%, paper and pulp stocks rose 1.0%, construction stocks rose 1.4%, and banking and financial stocks rose 0.5%.

The overall performance of the gaming sector was most impressive Tuesday. The release of “Diable 3”expansion “Reaper of Souls” is expected to boost the sales figures of distributor Soft-World (5478). Soft-World rose to its limit at NT$101 and also drove X-Legend (4946), Chinesegamer (3083), Gamania (6180), Wayi (3086), Interserv (6169), and Userjoy (3546) higher to their daily trading limits.

Analysts state, from market observations, electronic, financial, and traditional industry stocks performed strongly. Small and mid-cap stocks were also the subjects of continued buying. With the momentum of the bull market strengthening significantly, analysts forecast that the influence of anti-service trade protests will gradually fade and an increase in volume could lead to a challenge of the previous high of 8,787 points. If investors encounter market pullbacks, they can take the opportunity to lay down superior plans.

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