Taiwan share prices are expected to get a lift as institutional investors may boost the market to dress up their books, with the quarter to September coming to an end, dealers said on Friday.
The latest 12.50 basis point key interest rate hike by the central bank may continue to raise the value of the local currency and lure more foreign funds into the local market, they said.
The market is expected to move between 9,000 points and 9,250 points, dealers said, but gains may be limited as markets will be closed on Monday and Tuesday for a prolonged Moon Festival holiday.
For the week to September 21, the weighted index closed up 73.65 points or 0.82 percent at 9,105.28 after a 0.15 percent increase a week earlier.
Average daily turnover stood at 142.18 billion Taiwan dollars (4.32 billion US), as compared with 120.93 billion dollars a week ago.
Institutional interest at quarter-end may dictate stock movements next week, Huang said, noting: "A further upside is likely." "The market is likely to encounter resistance at around 9,100 points. I do not rule out the possibility that the index may test 9,000 points again," he said.
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