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Taiwan shares rise 0.67%

Taiwan shares rise 0.67%

Taipei, March 31 (CNA) Taiwan shares closed up 64.57 points, or 0.67 percent, at 9,586.44 Tuesday on turnover of NT$105.35 billion (US$3.37 billion). The local bourse opened at 9,568.38 and fluctuated between a high of 9,594.75 and a low of 9,527.87. All eight major stock categories gained ground, with cement shares the biggest gainer, surging by 1.61 percent. Construction stocks rose by 1.41 percent, while foodstuff issues, as well as bank and financial stocks, were up by 0.77 percent and electronics and machinery issues increased 0.72 percent. Paper and pulp stocks were 0.57 percent up, textile issues rose by 0.54 percent, and plastics and chemical stocks increased by 0.48 percent. Gainers outnumbered losers 4,286 to 3,038, with 525 stocks remaining unchanged. Three major institutional investors -- foreign and Chinese investors, securities investment trust companies and securities dealers -- were net sellers of NT$2.68 billion-worth of shares. According to Mega International Investment Services Corp (????) analyst Alex Huang (???), foreign investors' attitudes toward the market outlook has become more conservative and the Taiex is likely to hover between 9,500 and 9,650 before the middle of April. However, the market may go down over concerns that a rising U.S. dollar and falling oil prices could adversely affect enterprises' profitability, although the index could remain at around 9,350 points. The market should also be on the alert for potential selling pressure before the four-day Tomb Sweeping Festival, Huang added. (By Evelyn Kao)


Updated : 2021-09-27 00:44 GMT+08:00