Prices open low but end up

Noah Weston, Special to The China Post

Share prices opened low but closed higher on the Taiwan Stock Exchange (TAIEX) Friday, with the weighted index, the market’s key barometer, moving up 14.76 points to close at 5,460.53.

Affected by a plunge in the Dow Jones index, the bourse opened at 5,377.55 but rose later due to a rebound of electronics stocks. The index fluctuated between 5,516.55 and 5,357.51 during trading.

A total of 3.65 billion shares changed hands on a market turnover of NT$79.39 billion (US$2.34 billion), an increase from the previous trading session which saw 2.99 billion stocks change hands on a market turnover of NT$62.55 billion (US$1.84 billion).

Two of the eight major stocks categories posted losses, with bank and insurance shares moving down the most at 0.2 percent, followed by construction stocks at 0.1 percent.

The other major stocks categories gained ground, with pulp and paper issues moving up the most at 2.3 percent, followed by cement stocks and textile issues, both at 0.7 percent, foodstuff shares at 0.4 percent, electrical stocks at 0.3 percent, and plastics and chemical shares at 0.1 percent.

Losers outnumbered gainers 320 to 272, with 112 stocks remaining unchanged.