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Taiwan shares rise on strength of tech issues

Taiwan shares rise on strength of tech issues

Taiwan shares rose slightly Tuesday on the strength of big-name tech shares.
The Weighted Price Index of the Taiwan Stock Exchange rose 9.24 points, or 0.1 percent, to close at 8,727.55 points on weak volume.
"It's obvious retail investors are not in the market and foreign investors are buying only select names," said Derek Lam of Fubon Securities. It would take at least one more month of consolidation until retail investors would come back, he said.
He tipped shares to trade in the 8,600-8,750 band Wednesday.
In Tuesday's trading, Hon Hai Precision Industry ended up 1.9 percent to close at NT$245. Monday was the ex-dividend date, meaning that anyone buying shares Monday or afterward would not get this year's dividend.
Asustek went up 3.6 percent to NT$92.20 after it announced strong second quarter results. The gain also came after analysts recommended that investors switch to Asustek from Acer after the Acer's announcement it would buy U.S.-based computer vendor Gateway.
Acer slumped 6.9 percent to NT$59.20, on analysts' views that the company was paying too much for Gateway.


Updated : 2020-12-01 03:40 GMT+08:00