- TAIEX Chart MessAge:
Buy into current pullback.
The TAIEX declined 0.6% to close at 4,804.65 - turnover was
up 8% to a solid NT$110bn. The current round of consolidation is
likely to last a little longer, as the daily charts remain
overbought, while some resistance is located at current levels.
However, given the strong mid-term outlook, any further dips should
be considered as buying opportunities.
- TWSE electronics led
on the downside with a 1.2% decline to 205.54 as foundries and TFT-LCD
shares gave back some of the recent gains. TWSE
finance was up 0.1% to 702.62, and traditionals rose an overall
0.3%.
- Foundries Chart
MessAge: Buy on pullback. While
overbought near-term, the mid-term outlook is very strong.
- Institutional turnover
rose 9% to NT$35bn –
leaving institutional net buys at NT$3.9bn.
- Market
Daily - PDF file.
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