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Taiwan stocks close higher on heavy turnover

Taiwan stocks close higher on heavy turnover

Taipei, May 5 (CNA) Led by financial shares, Taiwan's share prices extended their winning streak into the third day Tuesday, with the weighted index, the market's key barometer, advancing 49.54 points, or 0.78 percent, to close at 6,379.94.
The local bourse opened sharply higher at 6,557.75, standing above the 10-year average of 6,470, before reaching the day's high of 6,562.77 and dropping to the day's low of 6,326.76.
A total of 6.84 billion shares changed hands on market turnover of NT$213.44 billion (US$6.44 billion) , the highest turnover this year.
Seven of the eight major stock categories gained ground, with banking and financial shares moving up the most at 4.7 percent.
Construction issues gained 4.3 percent, cement stocks surged 3.1 percent, textile stocks advanced 2.9 percent, plastics and chemicals issues gained 0.5 percent, foodstuff issues and machinery and electronics shares rose 0.1 percent.
Paper and pulp issues remained unchanged.
Losers outnumbered gainers 1,393 to 915, with 95 stocks remaining unchanged.
Foreign investors were net buyers of shares worth NT$27.51 billion.
Before the first anniversary of President Ma Ying-jeou's inauguration May 20, the local market could maintain the momentum to reach the 6,700-point level, or even the 6,900-point mark, and is not likely to drop below 6,200, according to Chu Yiu-chi, a senior executive of Grand Cathay Securities Investment Trust Corp.
(By Y.L. Kao)




Updated : 2021-06-21 22:14 GMT+08:00