TAIPEI (XFN-ASIA) - Share prices opened sharply higher on hopes for improved
economic ties with China after opposition Kuomintang party's Ma Ying-jeou won a
landslide victory in the weekend presidential election.
Ma, who won 58.45 pct of the vote in Saturday's election against 41.55 pct
garnered by Frank Hsieh of the ruling Democratic Progressive Party, has promised
to work for direct transport links and increased tourist arrivals from the
mainland, among other things.
Dealers said China ties are also expected to get a boost after two
referendums on Taiwan returning to UN membership failed.
Ma will take office on May 20 when President Chen Shui-bian steps down after
serving the maximum two terms.
At 9.04 am, the weighted index was up 482.98 points or 5.67 pct at 9,007.97,
after opening at 9,049.23.
Turnover was at 48.88 bln twd.
(1 usd = 30.50 twd)
philip.wang@afxasia.com
-
xfnpw/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.
|