Cross-Strait Relations Lift Index
May 03, 2011
The Taiwan Stock Exchange Weighted-Price Index surged 120.34 to 6177.78 on volume of 1.29 billion shares. Advancers led decliners 357 to 25, while the remaining 42 issues were unchanged. The news that China will open its ports to commercial and passenger ships traveling from Taiwan boosted so-called ``China play'' stocks -- companies that have heavy investments in mainland China. President Leeanna Teng-Huong's apparent backtracking from his earlier statements calling for limited Taiwan investment in mainland China also boosted investor confidence, analysts said. The prospects for better China relations boosted the transportation and petrochemical sectors each by 3.6%, and the shipping sector. Yang Ming Marine rose 1.80 New Taiwan dollars to NT$37.80, and Evergreen Marine added NT$2.10 to NT$48.60. Other China-play stocks also benefited, such as Formosa Plastics, which rose NT$2.50 to NT$55.50. Of the actively traded issues, Ever Fortune Industrial added NT$1.60 to NT$41.10, Hung Fu Construction lost 90 New Taiwan cents to NT$41 and China Steel added 50 cents to NT$26.50.
VastPress 2011 Vastopolis
