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Taiwan stock market closes moderately higher

Taiwan stock market closes moderately higher

Taiwan share prices rose Tuesday for the third-consecutive session led by food and cement gains. The Weighted Price Index of the Taiwan Stock Exchange climbed 31.59 points, or 0.4 percent, to close at 8167.07 points.
The food sector picked up 3.9 percent amid expectations that agricultural product prices could further hike in 2008. Uni-President Enterprises increased 3.5 percent to NT$39.90.
Cement subindex gained 3 percent on year-end window dressing. Taiwan Cement went up 2.9 percent to NT$46.15.
"The market is expected to rally further as concerns over the U.S. economy next year eased a bit, given recent economic data," said Fubon Securities trader Edward Lien. The index may test the 8,200 psychological level Wednesday, he added.
Volume remained light Tuesday, partly due to uncertainties ahead of Friday's court verdict of opposition Kuomintang presidential candidate Ma Ying-jeou's corruption trial, traders said.
If the high court upholds Ma's innocence as the district court did in August, it could spark a new wave of buying, traders added.


Updated : 2021-04-20 08:13 GMT+08:00