The TAIEX yesterday rode the momentum from a session earlier to close above 18,000 points at a historic high, with the bellwether electronics sector, in particular semiconductor stocks, leading the upturn.
“Rotational buying continued to dictate the local main board,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang (黃國偉) said. “Today, high-priced integrated circuit [IC] designers were spotlighted.”
The TAIEX closed the day up 87.30 points, or 0.49 percent, at 18,048.94, surpassing its previous record close of 18,034.19 on July 15.
The gauge has risen 22.51 percent so far this year, poised for a third annual gain and outperforming most of its
BULLISH SENTIMENT: Local institutional investors would continue to buy shares, but stiff technical resistance could be seen ahead of 18,250 points, an analyst said/ Staff writer, with CNA
The TAIEX yesterday closed higher, but gains were limited as investors remained cautious before the conclusion of the US Federal Reserve’s policymaking meeting later in the day, dealers said.
Large tech stocks continued to move in a narrow range while select old-economy stocks attracted rotational buying, giving some support to the broader market, they said.
“The Fed’s meeting was the most important factor in how regional markets, including Taipei, performed today,” Mega International Investment Services Corp (兆豐國際投顧) manager Alex Huang (黃國偉) said.
“Although the market is widely anticipating that the Fed will announce it will scale back its asset purchases, investors still wanted
The TAIEX closed higher yesterday, as investors rushed to find bargains in the shipping, petrochemical and steel sectors, which had been hit hard in the previous few sessions, while select technology stocks also attracted buying.
“Today, the shipping industry was helped by bargain hunting,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang (黃國偉) said. “After recent heavy losses, the pressure from margin calls on major shipping stocks has been reduced. It was time for them to stage a technical rebound.”
A margin call occurs when the value of an investor’s margin account falls below the broker’s required amount, and the investor
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