Taiwan Stocks Rebound Past 45,000; Investment Trusts Favor Far Eastern New Century

The Taiwan Stock Exchange experienced a strong recovery on Friday, with the main index closing significantly higher after an earlier dip. The index gained 290 points, surpassing the 45,000 mark, driven by a resurgence in the technology and financial sectors.

Investment trusts played a key role in the market's turnaround, shifting to a net buying position with NT$1.878 billion in purchases. Their primary focus was on Far Eastern New Century (FENC), which saw continuous buying for the 13th consecutive session. This week alone, investment trusts bought over 10,000 shares of FENC.

The substantial investment in FENC fueled a significant rally in its stock price. The company's shares climbed for the sixth consecutive day, increasing from NT$26.95 to NT$30.35, marking a 12.61% rise. This surge was accompanied by a notable increase in trading volume, reaching 40,300 shares.

Other stocks that attracted considerable attention from investment trusts included Tai-Tsai Technology (6278), Yi-Chuan (2486), Far Eastern International Bank (2845), and Ljung Hwa (3450). These companies also saw significant buying activity, contributing to the overall positive market sentiment.