Taipei, May 7 (CNA) Shares in Taiwan closed higher Tuesday as buying in large cap tech stocks continued after the gains posted on U.S. markets overnight, dealers said.
Market sentiment improved as investors at home and abroad embraced high hopes about a possible rate cut cycle by the U.S. Federal Reserve on the back of weaker than expected job data for April, dealers added.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 130.22 points, or 0.63 percent, at 20,653.53 after moving between 20,493.80 and 20,689.19. Turnover totaled NT$406.154 billion (US$12.53 billion).
The market opened up 0.54 percent and soon rose…
