Taiwan stocks ended the week with the biggest single-day percentage rise in over five months, which fund managers said was a signal that foreign funds were back after seven sessions of selling. The main TAIEX share index closed up 1.84 percent, or 159.96 points at 8,843.84, after opening up 0.92 percent. It had risen over 2 percent earlier in the session.
David Chu, chairman of Hua Nan Securities, expected the index would lose strength approaching the 8,900-9,000 level, but may get a lift again as demand for Taiwan's exports could rise ahead of the long Labour Day holidays in China in May. Financial shares were the biggest winners, up 4.27 percent. Electronics shares rose 1.17 percent.
Foreign investors were net sellers for the seventh consecutive session on Thursday, unloading T$7.87 billion ($268.5 billion). That brought selling for the month to date to T$76 billion, almost reversing January's T$99 billion of net buying.
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