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(From AFX Europe (Focus))
TAIPEI (XFN-ASIA) - Share prices are expected to open higher as investors are cheered by Friday's gains on Wall Street and a market-friendly chief for the island's financial regulatory agency, dealers said.
Sean Chen, who is replacing Gordon Chen as chairman of the Financial Supervisory Commission today, was reported as saying he may put off a new accounting rule over inventory expensing that is bound to erode corporate earnings.
On Friday, the weighted index closed up 6.74 points at 4,460.49 on turnover of 57.75 bln twd.
Foreign investors were net buyers of shares worth 3.56 bln twd, local investment trusts net sellers of 364.16 mln twd and brokers net buyers of 457.92 mln twd.
"Our rebound appears poised to remain intact after five consecutive gains for US stocks," said an analyst with a local ...