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Taiwan stock index jumps 2.4 percent, lifted by Wall Street and regional rally

Taiwan stock index jumps 2.4 percent, lifted by Wall Street and regional rally

Taiwan shares rose sharply on Monday in a broad-based rally, lifted by gains around the region and on Wall Street's advance last week.
The Weighted Price Index of the Taiwan Stock Exchange rose 194.04 points, or 2.4 percent, to close at 8135.48 points, the highest since Dec. 13.
Shares rose across board. By sector, food gained 5.4 percent, cement was up 4.2 percent, followed by electronics' 2.9 percent.
Uni-President rose 6.9 percent at NT$38.55, and AU Optronics went up 2.5 percent at NT$58.50. The two firms are slated to participate at investor briefings with another 16 Taiwan companies held by Taiwan Stock Exchange to boost shares.
Taiwan Cement rose 3.6 percent to NT$44.85 on strong demand from mainland China.
"Taiwan shares are gathering momentum after dropping significantly over the past two weeks," said KGI Securities trader Scott Hsu.
Some investors stayed on the sideline pending Friday's High Court verdict on opposition Nationalist presidential candidate Ma Ying-jeou's corruption trial.
If Ma is cleared of graft charges, index could gain further, Hsu said.


Updated : 2021-01-19 04:29 GMT+08:00