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Taiwan shares rise sharply on optimism about earnings

Taiwan shares rise sharply on optimism about earnings

Taiwan shares jumped on optimism about strong quarterly earnings.
The Weighted Price Index of the Taiwan Stock Exchange rose 133.11 points, or 1.7 percent, to close at 8,059.77.
"Investors are banking on their steady positive 1st quarter earnings, so shares for companies like MediaTek and Asustek are rising," said Derek Lam of Fubon Securities.
MediaTek rose 4.3 percent to 461 New Taiwan dollars, and Asustek rose 1.65 percent to NT$81.
Other big gainers were Cathay Financial, which rose 4.8 percent to close at NT$73, and China Life, which climbed 5.3 percent to NT$16.1.