Taiwan’s shares extend momentum in mid-morning session

Taipei-Taiwan’s shares extended strength from a day earlier to breach the 10,800-point mark in the mid-morning session Wednesday as the financial sector kept moving higher amid continued bargain hunting, dealers said.

Buying spread, with investors selecting “Apple concept stocks,” pushing up the broader market as investors held hopes that the premium iPhone X will boost these Taiwanese suppliers’ shipments in the fourth quarter of this year and even into the first quarter of next year, dealers said.

As of 10:49 a.m., the financial sector had gained 1.48 percent after a 2.75 percent increase recorded on Tuesday as bargain hunters continued to pick up stocks in the sector, which has been a market laggard for a long time.

The weighted index on the main board was up 90.25 points or 0.84 percent at 10,869.49 points on turnover of NT$93.29 billion (US$3.10 billion).

Source: Focus Taiwan News Channel