Local bourse stages strong rebound

Taipei, Aug. 19 (CNA) Shares in Taiwan staged a strong rebound Tuesday, regaining ground lost over the past three sessions, thanks to a rally on global markets, dealers said. The weighted index on the Taiwan stock exchange closed up 102.47 points, or 1.12 percent, at 9,243.78, after moving between 9,188,63 and 9,255,09 on turnover of NT$86.37 billion (US$2.88 billion).
The index had risen to 9,231.31 on Aug. 13 before falling to 9,141.31 at the close of trading Monday. The biotechnology sector, which took a beating a day earlier, soared 3.5 percent on Tuesday. The photovoltaic sector also regained momentum, led by Motech Industries, which rose by the maximum 7 percent to NT$37.6. Electronics stocks rose over 1 percent, while the financial sector was up nearly 1 percent. Foreign institutional investors bought a net NT$6.08 billion in shares Tuesday. (By Maranda Hsu and Y.F. Low)