Officials and investors broke into rare broad smiles while letting out a collective sigh of relief as the climb represented a sharp reverse in a prolonged downward spiral that fell below 5,000 for the first time Monday in more than five years.

Gainers far outnumbered losers 1,511 to 198, with 251 issues remaining unchanged on increasing turnover of NT$67.5 billion, compared with a meager NT$74.82 billion a day earlier.

Buying orders far exceeded sales, despite continuing and expanding sales pressure came from international investors.

Foreign investors continued dumping their shares with increased net-sale of Taiwan shares at NT$6.26 billion, although securities investment consulting firms reversed tactic to purchase NT$225 million more than they unloaded.

Securities brokerage houses with their own stock investment departments registered another slight net-purchase of NT$49 million.

Taiwan Semiconductor Manufacturing Co. gained NT$3.25, or the 7 percent daily limit, to NT$49.90. The world's largest maker of chips designed by other companies said it will manufacturer semiconductors using advanced 22-nanometer processes.

Quanta Computer Inc. jumped NT$2.25, or the 7 percent daily limit, to NT$34.55. The world's top maker of laptop computers for other companies received orders from Sony Corp., the local media reported.

Farglory Land Development Co., Taiwan's biggest property developer, rose NT$1.50, or its daily limit of 6.8 percent, to NT$23.60.

Cathay Real Estate Development Co. also surged 52 cents, or 6.9 percent to NT$8.02. Shops located near Taiwan college campuses are in demand by investors looking for higher-yielding commercial property, Sinyi Realty Co., Taiwan's biggest real estate broker, said in an e-mailed statement yesterday.

The government was considered unlikely to extend the temporary measure of halving the daily limit on individual stock declines to 3.5 percent from the normal 7 percent when it expires on Friday.

Wu Dang-chieh, vice chairman of the Financial Supervisory Commission, said last night that an extension of the measure was not under consideration.

The ban on short selling -- introduced on Oct. 1 and extended until the end of the year -- to help cushion the successive price tumbles will remain intact.

Securities analysts said the downturn of Taiwan share prices was caused mainly by the massive sales of foreign investors and panicked local investors scared by the financial troubles triggered by U.S. subprime loan problems in mid-2007.

But shareholders around the world are now more assured as top officials and their central bankers in industrialized nations will now directly back up their banks with weak financial standing.

They suggested that investors may take cue from the possible sustained rises of share prices on the Wall Street and in European nations after deep falls last week.



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