Taipei shares open higher on technical rebound after Wall St gains |
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Mon, 15 Oct 2007 02:29
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TAIPEI (XFN-ASIA) - Share prices opened higher on a technical rebound, with Wall Street's gains Friday outweighing concerns over the China market, dealers said.The local bourse took its lead from firmer US stocks on merger and acquisition activity, stronger-than-expected retail sales for September and a jump in wholesale prices during the same month.Most local firms with operations in the mainland moved higher, despite a decision by the People's Bank of China on Saturday to raise the reserve requirement for China commercial banks by 0.5 percentage points to 13 pct, to take effect from Oct 25.At 9.17 am, the weighted index was up 44.91 points or 0.47 pct at 9,541.38, after opening at 9,565.36.Turnover was 17.65 bln twd.(1 usd = 32.60 twd)adela.lin@afxasia.comal/kmqxfnal/xfnkmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Taipei shares outlook - Higher on technical rebound after Wall St gains 