By Crystal Hsu / Staff reporterThe TAIEX yesterday rose 0.24 percent to 12,118.71 points to close out the Year of the Pig with a 22 percent gain. On the last trading day of the old lunar year, global investors sought to take advantage of Taiwanese tech firms involved in the 5G as well as a recovery in the technology product cycle. Electronics stocks moved higher early on before some investors started moving to the sell side, but buying rotated to financial stocks to keep the TAIEX above 12,100 points. CTBC Investments said it expects corporate profits among local firms to grow 7.4 percent this year, but electronics firms might outperform with a 13.4 percent pickup. Trade tensions have prompted Chinese technology firms to cut dependence on US suppliers and shift orders to local vendors instead, it said.

Source: Taipei Times January 20, 2020 15:56 UTC