TAIEX likely to see consolidationBy Kao Shih-ching / Staff reporterThe TAIEX is likely to hover between 13,000 and 15,000 points in the first and second quarters of next year as it enters consolidation mode, before rallying in the third quarter and climbing to 16,800 points in the fourth quarter, Capital Investment Management Corp (群益證投顧) said yesterday. The TAIEX yesterday closed up 1.06 percent at 14,483.07 points, a record high, Taiwan Stock Exchange data showed. The TAIEX is projected to move to a range of 14,000 to 15,500 points in the third quarter, as the local technology sector would benefit from more orders in the peak season, Tsai said. If the US stock market does not crash and governments extend their quantitative easing programs, it is possible that the TAIEX would advance to 16,800 points at most in the fourth quarter, he said. Capital Investment has an upbeat outlook for local biotech companies, due to rising demand for COVID-19 test reagents and vaccines.

Source: Taipei Times December 28, 2020 15:56 UTC