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Taipei shares open sharply higher after Wall St rally; LCD panel firms surge

Post Time:Jan 05,2009Classify:Industry NewsView:385

Share prices opened sharply higher following solid gains on Wall Street last Friday and hopes for a liquidity-driven rally locally in the run-up to the Lunar New Year at month end, dealers said.

Technology and financial heavyweights led the charge in the first trading session of 2009.

Liquid-crystal display (LCD) panel makers surged, with AU Optronics (nyse: AUO - news - people ) up more than 6 pct, as panel prices stabilized.

At 9.03 am, the weighted index was up 132.89 points or 2.89 pct at 4,724.11, after opening up 134.04 points at 4,725.26.

Turnover was 5.91 bln twd.

The electronics subindex was up 3.31 pct while the financial index was up 3.05 pct.

Among LCD panel firms, AU Optronics rallied 1.50 twd or 6.07 pct to 26.20 and Chi Mei Optoelectronics surged 0.50 twd or 4.63 pct to 11.30.

(1 usd = 33.20 twd)

Source: XFN-ASIAAuthor: shangyi

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