Transport Sector Rises
May 09, 2011
The Taiwan Stock Exchange Weighted Index gained 32.05 to 6232.53. Volume was 827 million shares valued at 27.0 billion New Taiwan dollars. Winners outnumbered losers 202 to 113, with 109 issues unchanged. In Tuesday's market only paper issues declined, as U-Ming Marine rose 20 New Taiwan cents to NT$27.20, while Cathay Life increased NT$1 to NT$165, and Union Petrochemical went up 40 cents to NT$30.60. Trading was slow as the central bank's cut in the reserve ratio last week will take several months to have an effect on the economy, said analysts. The central bank's money policy will take time to affect companies, while investors will react strongly to any news about developing Taiwan-China relations, analysts said. Of actively traded issues, Ever Fortune Industrial added NT$1.30 to NT$40.80, while China Petrochemical Development gained 50 cents to NT$27.90, and Hung Fu Construction added 60 cents to NT$41.20.
