Taipei shares outlook - Higher on liquidity-driven buying |
|
|
|
Published
:
Sat, 29 Sep 2007 02:09
|
TAIPEI (XFN-ASIA) - Share prices are expected to open higher as liquidity-driven buying outweighs the dip on Wall Street overnight due to caution ahead of October's US corporate earnings reports, dealers said.Fund managers giving support to their positions before they close their books for the quarter as well as appreciation of the local currency have also heightened expectations of further capital inflows.The special Saturday trading session today is to make up a for holiday earlier this week due to the Mid-Autumn Festival.Yesterday, the weighted index closed down 1.70 points or 0.02 pct at the day's low of 9,411.95, off a high of 9,474.05, on turnover was 171.62 bln twd.Foreign investors were net buyers of shares worth 9.50 bln twd, local investment trusts were net buyers of shares worth 3.49 bln twd, and brokers were net buyers of shares worth 1.36 bln twdJack Tam, an assistant vice president with Yuanta Core Pacific Capital Management Co Ltd, said ample liquidity will act as a catalyst for the local bourse in the last trading session of the month as well as the quarter.'Thanks to the strength of the Taiwan dollar, ample liquidity in the equity market will further bolster sentiment towards Taipei stocks,' he said.Tam also said the marginal decline on the New York markets overnight should not produce much of an impact on the local bourse this session.In addition, window-dressing could extend itself today.'We probably will experience rotational play among various sectors, a scenario usually featured by liquidity-driven interest,' Tam noted.(1 usd = 32.70 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.
|
|
|
|
Print this Story
Taipei shares close higher on window-dressing ahead of end-Q3 