Taipei shares open firmer but lose steam on oil price spike, weak Wall St |
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Thu, 13 Sep 2007 02:53
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TAIPEI (XFN-ASIA) - Share prices opened higher on follow-through interest after closing yesterday with a firm bias, but soon gave up initial gains as investors found no other leads to focus on but Wall Street's mixed showing overnight and a spike in crude oil prices.Textile stocks gained some support from strong industry prospects, but the broad market weakened due to uncertainty over whether the US Fed will cut its key interest rate next week.The weighted index opened up 44.19 points at 9,062.31, but shortly after turned lower to 9,012.89, down 5.23 .Turnover was 12.69 bln twd.(1 usd = 33.00 twd)adela.lin@afxasia.comal/net-xfnal/xfnntCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Taipei shares outlook - Higher on Wall St gains, relief from Fed statement 