Taipei shares outlook - Firmer following Wall St gains |
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Wed, 24 Oct 2007 01:20
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TAIPEI (XFN-ASIA) - Share prices are expected to open higher, taking their cue from Wall Street's gains after upbeat earnings from Apple Inc and American Express Co, dealers said.The local bourse regained some ground yesterday following Monday's sharp fall, and a further recovery is expected, supported by high levels of liquidity.Yesterday, the weighted index closed up 141.76 points or 1.51 pct at 9,502.39 on turnover was 148.45 bln twd.Foreign investors were net buyers of shares worth 1.60 bln twd, local investment trusts were net sellers of shares worth 662.53 mln twd, and brokers were net buyers of shares worth 426.80 mln twd.Kevin Chung, a manager with Jih Sun Securities Investment Consulting Co Ltd, said there were no major fresh leads at home and Wall Street will continue to provide direction.'We should see a further rebound today in line with Wall Street's overnight advance, with liquidity ample.'Any upswings will be limited by caution ahead of corporate earnings announcements, he said.Taiwan Semiconductor Manufacturing Co Ltd is due to report earnings and guidance at a quarterly briefing for investors tomorrow.(1 usd = 32.60 twd)adela.lin@afxasia.com-xfnal/xfntmCOPYRIGHTCopyright 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 close up on Wall St rebound; techs mostly up but AU down - UPDATE 