Taipei, May 28 (CNA) Taiwan shares moved sharply higher Friday morning with buying seen across the board on the back of a rally on U.S. markets overnight, dealers said.
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Taiwan shares rally on strong tech gains
05/25/2021 05:42 PM
CNA file photo
Taipei, May 25 (CNA) Shares in Taiwan moved sharply higher Tuesday as the bellwether electronics sector steamed ahead, led by large cap semiconductor stocks, in the wake of a rally by their counterparts on the American markets overnight, dealers said.
Buying also rotated to the petrochemical sector, giving additional support to the broader market, while shipping stocks pulled back from their recent strong upturn throughout the session, dealers said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 257.38 points, or 1.58 percent, at 16,595.67, after moving between 16,444.75 and 16,657.60. Turnover totaled NT$527.34 billion (US$18.91 billion).
U.S. Stocks Close Mostly Higher Amid Economic Optimism
WASHINGTON (dpa-AFX) - Following the mixed performance seen last week, stocks moved mostly higher during trading on Monday. The major averages all moved to the upside on the day, with the tech-heavy Nasdaq showing a particularly strong advance.
The major averages gave back ground going into the close but remained firmly positive. The Dow climbed 186.14 points or 0.5 percent to 34,393.98, the Nasdaq surged up 190.18 points or 1.4 percent to 13,661.17 and the S&P 500 jumped 41.19 points or 1 percent to 4,197.05.
Economic optimism contributed to the buying interest on Wall Street, as the country continues to reopen following the coronavirus pandemic.