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(From AFX Europe (Focus))
TAIPEI (XFN-ASIA) - Share prices turned firmer in early trading after weakness in heavyweight tech stocks was offset by bargain-hunting in financials, dealers said.
At 10:09 am, the weighted index was up 14.68 points or 0.33 pct at 4,475.17, off a low of 4,418.24.
Turnover was 19.13 bln twd.
"After a retreat in very early trading, investors sought bargains in financials and other old-economy stocks such as transportation," an analyst with a securities house said.
Apart from Wall Street's stronger close on Friday, investors also welcomed the appointment of a new FSC head.
Sean Chen, who is replacing Gordon Chen as chairman of the Financial Supervisory Commission today, was reported as saying that the commission could review the implementation of a new accounting rule on inventory expensing.