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Taiwan stocks up nearly 2 per cent ahead of presidential election

Other News Materials 21 March 2008 06:40 (UTC +04:00)

( dpa ) - Taiwan shares surged nearly 2 per cent Friday on the eve of a presidential election as the business sector expected opposition leader Ma Ying-jeou to win the polls and open trade with China.

A little more than an hour after the bourse opened, the benchmark Taiex index had risen 148.41 points, or 1.78 per cent, to 8,486.03.

Frustrated with Taiwan's five-decade ban on sea and air links with China, which has hurt Taiwan's economy, the business sector have been urging the government to lift the bans to revive the economy.

Ma, candidate for Taiwan's largest opposition party, the Chinese Nationalist Party, or Kuomintang, has vowed to fully open trade ties and launch air and sea links with China immediately after he takes office.

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