The TAIEX ended 559.89 points, or 3.54 percent, higher at 16,362.29 on turnover of NT$413.177 billion (US$14.56 billion). Photo: Chen Chih-chu, Taipei TimesYesterday’s increase was the second-highest single-day rise in the market’s history, trailing only the 590.19 points jump on Nov. 29, 1989. Huang was referring specifically to the Philadelphia Semiconductor Index, which rose more than 7 percent during the break in Taiwan. Non-tech stocks also narrowed their gap with their foreign counterparts, especially the petrochemical sector, Huang said. “In addition, the gains helped the TAIEX overcome stiff technical resistance ahead of 16,239 points, the intraday high on Jan. 21, so I expect the uptrend to continue.”

Source: Taipei Times February 17, 2021 15:56 UTC