Taiwan share prices closed up 0.73 percent yesterday on robust buying by foreign investors, dealers said. The weighted index rose 58.45 points to 8,112.28, the highest level since June 2008 on turnover of NT$155.26 billion (US$4.85 billion).
Gainers led losers by 1,735 to 1,082 with 308 stocks unchanged.
"I think the upward momentum will extend to the Lunar New Year" in February on anticipated strong demand from China, said Concord Securities manager Allen Lin.
The steel sector rose 1.6 percent, with China steel up 0.8 percent to NT$32.05 on an anticipated price hike next year.
The electronics sector closed 0.85 percent higher. LED maker Lite-On Technology was limit-up at 7.0 percent at NT$48.20, after it said demand would be steady over the next 18 months.
Taiwan Semiconductor Manufacturing Co rose 0.95 percent to NT$63.90 and United Microelectronics Corp gained 0.89 percent to NT$17.05.