Taiwan shares close up after U.S. rally
03/16/2021 04:05 PM
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Taipei, March 16 (CNA) Shares in Taiwan moved higher Tuesday to close above the 16,300-point mark as investors were encouraged by a rally on U.S. markets overnight, dealers said.
The upturn was capped by lingering concerns over a possible technical pullback for large cap tech stocks, which had relatively high valuations, while old economy stocks, particularly in the tourism and construction sectors, attracted rotational buying throughout the session, the dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 63.83 points, or 0.39 percent, at 16,313.16, after moving between 16,244.99 and 16,340.66. Turnover totaled NT$295.95 billion (US$10.48 billion).