Taiwan shares up slightly

Taipei, Jan. 26 (CNA) Shares in Taiwan closed slightly higher Monday after hovering within a narrow range during the entire session because of the Greek election as well as a slide on Wall Street, dealers said. The weighted index on the Taiwan Stock Exchange closed up 6.73 points, or 0.07 percent, at 9,477.67, on turnover of NT$89.68 billion (US$2.87 billion), the dealers said. Analysts said that due to the impact of the Greek election, in which the anti-austerity party won, as well as a slide in major global stock markets, the turnover volume shrank. However, as foreign institutional investors were still looking favorably at Taiwan's stock market, they were optimistic that the stock market could still challenge the threshold of 9,500 points. Due to the continued appreciation of the Taiwan dollar, investors thought it would have a negative impact on exports of electronics products. Despite Jonney Shih (???), chairman of PC vendor Asustek Computer Inc.(??) , saying he is optimistic about the outlook of the industry, Asustek shares closed at NT$333, or 0.6 percent lower. Meanwhile, shares of computer maker Acer Inc.(??), which said recently that its market share in the first quarter could have double-digit growth, ended lower at NT$20.5, or down 0.49 percent. President Securities Corp. (????) said that due to a quantitative easing program unveiled by the European Central Bank, as well as global hot money and strong Taiwan share fundamentals, it still views the Taiwan stock market favorably. (By Tien Yu-ping and Lilian Wu)