AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Taiwan stocks jumped 2 percent on Thursday as bargain hunters actively entered the market when the index hit a 1-year intraday low, looking for cheap valuations in major technology issues and helping to lift overall sentiment.
Chi Mei Optoelectronics, Taiwan's second-largest display screen maker, jumped the daily 7 percent maximum and was one of the most actively traded issues as the firm posted quarterly earnings that jumped 12-fold to a record T$9.0 billion.
The TAIEX share index gained 100.74 points, or 2.08 percent, to close at 5,427.61 after sliding over 1 percent earlier in the session.
Analysts said the market's recent resilience in the face of doubts over corporate profits in the third quarter and high oil prices gave investors enough confidence to step back into the battered electronics sector.
"We have weathered a lot of bad news in the past two weeks," said Maggie Chien, asset management consultant at Capital Investment Management.
"The market has shown that there is not much more downside, and electronics shares are starting to pull higher with some real volume," she said.
Turnover improved to T$73.3 billion in the see-saw session, up sharply from the last session's T$39.67 billion, which had probed a 14-month low.
Gains in Chi Mei helped world number three display screen maker and rival AU Optronics add 5.64 percent. Even the battered memory chip sector, which has been hurt by weakening prices, managed to show gains.
Powerchip Semiconductor, Taiwan's largest maker of dynamic random access memory (DRAM) chips, rose 4.27 percent to T$22.0, bouncing off intraday losses of up to 4.7 percent.
The tech sector gains also helped banking shares, which had been relatively stable in the past weeks. Chinatrust Financial Holdings Co, the owners of Taiwan's largest private bank, added 0.59 percent.
The over-the-counter market's TAISDAQ index rose 2.3 percent to finish at 109.23, while August TAIEX futures advanced 2.76 percent, to 5,399.

Copyright Reuters, 2004

Comments

Comments are closed.