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Taiwan Textile Stock Market Up

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The TAIEX yesterday (Jan. 5th)moved higher to stand above 7,100 points on the back of rotational buying, as the government’s National Stabilization Fund was believed to have poured additional funds into the market in a bid to shore up investor confidence, dealers said.

The weighted index closed up 47.89 points, or 0.68 percent, at the day’s high of 7,130.86, off a low of 7,073.32, on turnover of NT$75.98 billion (US$2.51 billion).

The textile sector scored the biggest gains among the eight major stock categories, finishing up 1.7 percent, as several manufacturers reported receiving rush orders.

Among them, polyester product manufacturers Li Peng Enterprises Co and Lealea Enterprises Co closed up 7 percent, the maximum daily increase, to close at NT$9.98 and NT$11.75 respectively.

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