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Updated Friday, September 3, 2010 2:24 pm TWN, CNA

Taiwan share prices close up 0.68% on Wall St. rebound

TAIPEI, Taiwan -- Taiwan share prices closed up 0.68 percent yesterday as buying was triggered by a strong rebound on Wall Street overnight due to better-than-expected U.S. manufacturing activity data in August, dealers said.

The weighted index rose 52.57 points to 7,720.82, after moving between 7,715.31 and 7,780.53, on turnover of NT$115.78 billion.

The market opened up 1.24 percent in a knee-jerk reaction to Wall Street's 2.2 percent rise and gains posted by other major markets in the region, but after the index moved closer to the nearest resistance at around 7,800, profit-taking emerged, dealers said.

A total of 2,378 stocks closed up and 1,302 down, with 310 remaining unchanged.

The cement sector scored the highest gains, up 1.11 percent. Plastics and chemical stocks rose 0.96 percent.

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