Taiwan share prices are expected to extend gains as institutional investors tend to boost share prices to dress up their books with the second quarter coming to an end, dealers said on Friday.
China chips that have close business ties with the mainland are likely to benefit most as the government is scheduled to release regulatory details next week to govern Chinese investments on the island, they said.
However, the bellwether electronic sector may lag as investors will possibly keep adjusting high tech portfolios after the recent impressive upturn, they added.
Likely institutional buying is expected to push the index towards 6,700 in the first half of the week, but profit-taking may emerge with technical support expected at around 6,300, dealers said. For the week to June 26, the weighted index rose 232.41 points or 3.73 percent to 6,463.56 after a 3.37 percent fall a week earlier. Average daily turnover stood at 108.56 billion Taiwan dollars (3.29 billion US), compared with 99.87 billion dollars a week ago.
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