UMC (2303) closed @ 67.00 + 4.00 vol 72,744,739 3rd most active
++++++++++=
oct 5 net purchase 3,844m shares
+++++++++
TAIWAN WEIGHTED closed @ 6353.67 +324.02 (+5.37%)
++++++++
Traders said local investors may also be buying as they believe shares have fallen too far, too fast. The 14-day relative strength measure for the TWSE Index, derived by averaging out daily gains and daily losses over a set period, stood at 25.8 yesterday, below the minimum of 30 that indicates the stock is poised to rise.
``I think there will be a rebound from here, because of the sharp correction, but it won't be very large,'' said Shih Mei, who manages $40 million in Taiwan stocks at National Investment Trust Ltd. ``The downside is limited by government support.''
++++++++
Taiwan's New PM Urges Opposition To End Political Feuding
TAIPEI (AP)--Taiwan's new premier Friday urged opposition parties to halt a "war of attrition" and end four months of feuding that has shaken confidence in the island's government and stock market.
Premier Chang Chun-hsiung, Taiwan's third most powerful leader, made his comments as new Cabinet members were sworn in one day after a minor reshuffle. The shakeup was prompted by this week's resignation of ailing Premier Tang Fei.
A few hours after being sworn in, the new Cabinet got its first good news. The slumping stock market's main index shot up 5.4%. Analysts and traders said the market was boosted by increasing sentiment that the government was becoming more stable.
Chang, who took office Wednesday, urged the island's parties to work together.
"In this new age, let's stop this war of attrition where there are no winners, no bottom lines," Chang said.
"Let us replace confrontation with cooperation ... and rekindle the public's hope and confidence," he said |
