The TAIEX moves higher for the fourth consecutive sessionStaff writer, with CNAThe TAIEX yesterday moved higher for the fourth consecutive session as the financial sector was boosted by hopes that the US Federal Reserve would initiate a rate-hike cycle this year, which would push up financial institutions’ returns from overseas investments, dealers said. The TAIEX closed up 61.53 points, or 0.33 percent, at 18,436.93. Without the financial sector, the main board rose only 13.13 points, or 0.08 percent, from a session earlier. In addition, Cathay Financial Holding Co (國泰金控) rose 4.17 percent to close at NT$67.4, Mega Financial Holding Co (兆豐金控) gained 2.3 percent to close at NT$37.85 and Fubon Financial Holding Co (富邦金控) added 2 percent to close at NT$81.6. “For the TAIEX, strong technical support is expected in the event of any volatility at around 18,000 points, the 20-day moving average.”

Source: Taipei Times January 14, 2022 00:59 UTC