Taipei shares open higher on Wall St gain
Share prices opened higher following gains on Wall Street, where investors cheered an upward revision in first-quarter US GDP growth and a sharp drop in oil prices.
Technology and financial stocks led the early advance as worries eased over the US economy, and following foreign investor net purchases on the local bourse yesterday. The US markets rose for the third straight session on Thursday after first-quarter GDP reading was revised to a 0.9 pct growth from an initial estimate of 0.6 pct rise.
Sentiment was also boosted as oil prices fell 4.41 usd to settle at 126.62 usd a barrel on the New York Mercantile Exchange, in the biggest single-session drop since March.
At 9.04 am, the weighted index was up 78.42 points or 0.90 pct at 8,763.34, after opening at 8,762.30.
Turnover was 5.93 bln twd. The electronics sector index was up 0.96 pct and financial sector rose 0.93 pct.
(1 usd = 30.50 twd) adela.lin@afxasia.com – xfnal/xfnrc COPYRIGHT Copyright Thomson Financial News Limited 2008. 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.
Related posts:
- SKorean shares close higher on falling oil prices, Wall Street advance
South Korean shares closed higher on Thursday after a three-day losing streak, as investors cheered Wall Street’s advance and a... - India Petronet LNG Q1 net down, even as sales rise
MUMBAI (Thomson Financial) – India’s Petronet LNG Ltd. said its first-quarter net profit fell slightly, even as sales rose. Net... - India Petronet LNG Q1 net down, even as sales rise
MUMBAI (Thomson Financial) – India’s Petronet LNG Ltd. said its first-quarter net profit fell slightly, even as sales rose. Net...
Comments
Leave a Reply
