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Bolstered by construction shares, local bourse posts sharp surge

Bolstered by construction shares, local bourse posts sharp surge

Taipei, July 1 (CNA) Taiwan's share prices closed 2.28 percent higher Wednesday on news that Taiwan will soon allow Chinese investment in the real estate sector and buoyed by the effect of the government's approval of plans to upgrade some of the country's cities and counties to special municipalities Led by construction shares, the weighted index, the market's key barometer, rose 146.81 points to close at 6,578.97.
Finishing higher for the second consecutive day, the local bourse opened at 6,445.85 and fluctuated between 6,593.78 and 6,433.69.
A total of 3.79 billion shares changed hands on market turnover of NT$105.53 billion (US$3.22 billion).
All eight major stock categories gained ground, with construction stocks moving up the most 5.21 percent. Paper and pulp shares surged 3.74 percent, banking and financial issues rose 2.95 percent, machinery and electronics issues advanced 2.22 percent, textile issues were up 1.73 percent, foodstuff shares added 1.6 percent, plastics and chemicals shares gained 1.55 percent, and cement stocks rose 1.18 percent.
Gainers outnumbered losers 1,846 to 449, with 106 stocks remaining unchanged.
Foreign institutional investors were net buyers of NT$10.62 billion-worth of shares.
One analyst said that as the trading volume surged above the NT$100 billion mark that day, the market is likely to hover around 6,400 in the near future.
(By Y.L. Kao)




Updated : 2020-12-01 02:19 GMT+08:00