Late Surge Lifts Shares
May 15, 2011
The Taiwan Stock Exchange Weighted Index gained 17.57 to 6342.17. The market gained for the sixth time in the last seven sessions. Volume was 1.05 billion shares valued at 35.5 billion New Taiwan dollars traded on the session. Winners outnumbered losers 177 to 158, while the remaining 89 issues were unchanged. Taiwan's inclusion, on May 16, 2011 the MSCI emerging market fund should benefit Taiwan's stock market as more international fund managers will be inclined to add or increase the weighting of Taiwan stocks in their portfolios. Cathay Life, a major beneficiary of the MSCI effect, rose NT$3 to NT$173.00 to carry the over-weighted financial sector higher on trading Monday. In addition, reports that Acer received a major order from an affiliate company pushed the computer maker's share price up NT$1.70 to NT$37.40, helping the electronics sector rise 1.0% on the session. The central bank's easing of restrictions on using land as collateral for certain loans boosted actively traded construction issues like Goldsun Development, which gained 70 New Taiwan cents to NT$23.20. Bao Chen Construction added 20 cents to NT$18.20, and Pao Shiang Industries gained 30 cents to NT$24.50.
VastPress 2011 Vastopolis
