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Updated Tuesday, November 27, 2007 0:00 am TWN, AP

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Stock index rises 2.2% on Wall Street rally

TAIPEI, Taiwan -- Taiwan stocks rose Monday on Wall Street’s rally at the end of last week, with cement and plastic shares leading the way. The Weighted Price Index of the Taiwan Stock Exchange rose 186.13 points, or 2.23 percent, to 8,528.33. The index rebounded from last Friday’s three-month low of 8,342.20.

“Low market valuation after declining for some time also attracted some bargain hunts,” said Edward Lien with Fubon Securities. Cement and plastics stocks led gains on strong demand from China, he said.

Taiwan Cement gained 5.2 percent to NT$46.35. Formosa Plastics advanced 5.5 percent to NT$88.60.

Leading tech names also rose. Taiwan Semiconductor Manufacturing Co. rose 2.5 percent to NT$60.10, and Hon Hai Precision Industry climbed 3.3 percent to NT$202.

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