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Taiwan stocks end at 87-month high

Xinhua, February 24, 2015 Adjust font size:

Taiwan's equity markets had a robust start in the Year of the Sheep on Tuesday, closing at their highest in more than five years in the first trading session after the Chinese lunar new year.

The benchmark weighted index rallied 99.86 points, or 1.04 percent, to close at 9,629.37 Tuesday, the highest closing level in 87 months.

Turnover totaled 109.04 billion new Taiwan dollars (3.45 billion U.S.dollars) as investors bought into electronics, financial and industrial heavyweights.

Chang Sheng-ford, Taiwan's top finance official, said on Tuesday he had faith that sound economic fundamentals will push the market higher and expressed optimism about the domestic stock market in the new lunar year.

The index rose 12.6 percent in the just-concluded Year of the Horse. Endi