by winston » Tue Sep 27, 2011 10:31 am
DJ MARKET TALK: Taiwan Shares Rebound, +2.9%; 7148 S/T Cap -Horizon
1008 [Dow Jones] Taiwan shares rebound sharply on techs and financials, tracking gains on Wall Street and in regional markets.
Horizon Securities analyst Benson Huang, says investors are taking a short break from the heavy selling, spurred by hopes that the European Central Bank will cut interest rates.
But he adds, today's rebound is likely "just a matter of a day or two" as investor sentiment is still weak.
The Taiex is up 2.9% at 7076.92, off its 7085.52 intraday high; Huang tips the index to be capped at 7148 short-term.
Catcher (2474.TW) rises by 6.8% its daily limit to NT$164.00, MediaTek (2454.TW) is also up 6.9% its daily limit at NT$327.00; TSMC (2330.TW) is 2.7% higher at NT$69.00.
Hon Hai (2317.TW) rises 1.5% to NT$69.60, Fubon Financial (2881.TW) gains 3.3% to NT$31.05, Cathay Financial (2882.TW) climbs 1.6% to NT$34.75.
Compal Electronics (2324.TW) is up 4.2% at NT$30.75 on a plan to set up a joint venture with Lenovo (0992.HK) in China.
Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"