Shares in Taiwan closed above the 9,700 point mark Wednesday as the bellwether electronics sector led the broader market to stage a technical rebound.
As investors ignored losses suffered by high-tech stocks on Wall Street overnight, they bought into Taiwanese semiconductor stocks, in particular integrated circuit designer MediaTek Inc., which said a day earlier that smartphone markets in emerging economies have shown signs of stabilizing.
The weighted index on the Taiwan Stock Exchange ended up 43.38 points, or 0.44 percent, at 9,724.11.