TAIWAN'S sizzling benchmark stock index soared 3.3 per cent to a two-year high yesterday on reports that more foreign investment funds will buy into the market.
The weighted price index of the Taiwan Stock Exchange closed 170.07 points higher at 5,331.87. Volume was heavy at NT$104.6 billion.
''The index rose again on reports of more foreign money coming into the market,'' said Daniel Chiang, vice-president of International Investment Trust Co.
Michael Chen, fund manager of the US$200 million New York-listed Taiwan Fund, confirmed a local report that $70 million of new money raised by the fund would arrive in Taiwan next week.
A report that $150 million of new overseas funds raised by National Investment Trust Co would be brought in soon could not be confirmed.
The index has soared 41 per cent from a mid-September on a rising tide of foreign money in the local stock market.
