Stock index jumps 1.9 percent ahead of Ma verdict

Taiwan shares rose sharply Thursday on investor confidence that a court will uphold presidential candidate Ma Ying-jeou's acquittal on graft charges.

The Weighted Price Index of the Taiwan Stock Exchange gained 157.33 points, or 1.9 percent, to close at 8,313.72 on the heaviest volume in seven sessions. Ma, of the main opposition Nationalist Party, favors expanded commercial ties with China, and is supported by many in Taiwan's powerful business community. Prosecutors are appealing his acquittal, and a court ruling on his case is expected Friday.

In stock trading, rubber issues, up 4.2 percent, and the electronics sector, higher by 3.1 percent, led the pack.

KGI Securities trader Scott Hsu said the verdict on Ma was being eagerly awaited.

"China plays rose significantly as investors expect more liberalization in cross-strait trade if Ma wins the elections," he said.

Big winners in Thursday's trade included TSRC, which gained 3.4 percent to close at NT$40.55, and TSMC, up 3.7 percent to NT$61.70.