Domestic shares close higher on cues from Wall Street upturnTAIPEI -- Shares in Taiwan closed higher Thursday as investors took cues from a further upturn on Wall Street overnight to chase prices on the local main board, pushing up the weighted index to a new one-year high, dealers said. According to the TWSE, foreign institutional investors bought a net NT$16.03 billion-worth of shares on the main board Thursday. As of Wednesday, foreign institutional investors held a net of more than 60,000 long-position futures contracts. Su said that strong foreign institutional buying came behind the solid gains posted by electronics market heavyweights, in particular TSMC, the most heavily weighted stock in the Taiwan market. TSMC Closed at NT$172TSMC gained 1.18 percent to close at NT$172.00, with 33.13 million shares changing hands, boosting its market capitalization to a record high.

Source: The China Post July 21, 2016 17:48 UTC