Business News
Taiwan stocks rise on opening of Chinese investments
Jul 1, 2009, 9:46 GMT
Taipei - Taiwan's stocks rose 2.28 per cent Wednesday, bolstered by the government's initial opening of 100 categories of industries and services to Chinese investments, dealers said.
The TAIEX index rose almost immediately on strong buying to finally close at 6,578.97 points, up 146.81 points, or 2.28 per cent from Tuesday's trade.
Dealers said the three major institutional investors registered a combined net buying of 10.6 billion Taiwan dollars (323 million US dollars).
Taiwan announced Tuesday it would allow Chinese investment in 100 less-sensitive industrial and service categories on the island, seen by analysts to help increase fund flows and boost the local economy.
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