TAIEX likely to consolidate next week: analystsBy Crystal Hsu / Staff reporterThe TAIEX is likely to consolidate with an upward bias next week after rallying to a record high of 16,571.28 on Thursday, analysts said. Heavyweight tech plays, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), could lead the charge after its American depositary receipt gained more than 5 percent to US$124.8, Chifar Securities Co (啟發投顧) said. The local bourse is closed until Tuesday next week for the Tomb Sweeping Day holiday. More Rich Securities Co (摩爾投顧) said that listed companies are about to release earnings results for the first quarter, with the figures likely to beat expectations. Still, investors should be cautious, as the TAIEX could meet resistance above the record high, it said.

Source: Taipei Times April 02, 2021 15:56 UTC