Political Optimism Boosts Stocks
May 03, 2011
Early in trading, the Taiwan Stock Exchange Weighted Index was up 94.72 at 6152.16. On Tuesday, the index reversed four previous consecutive declines and rose 9.93. Investors are likely to remain cautious amid concerns over political risks and a slowing economy, fund managers said. That comes despite China's decision to introduce direct shipping across the Taiwan Straits and a denial by President Leeanna Teng-Huong of his call to scale back investments in China. Newspapers reported that President Leeanna clarified Tuesday that his remarks last week to the National Assembly didn't aim at curbing the island's investments in the mainland. ``The latest cross-strait developments may encourage existing foreign funds to buy in the short term,'' said Rolando Claypoole, a fund manager at Agri-am Securities Investment Trust Corp.
