TAIPEI, Sept. 12 (Xinhua) -- Taiwan's share prices rose to a four-month high on Wednesday amid market optimism that the Europeans might eventually find a way to contain the messy debt crisis.
Investors also bet that the latest offerings of U.S. technology giant Apple will provide a boon to local companies that supply it with components.
The benchmark weighted index rose over the key 7,500 level shortly after the market opened. At one point during the session, it rose to 7,571, the highest level in four months.
The index closed at 7570.45, up 85.32 points, or 1.14 percent.
Germany's highest court on Wednesday approved the European Stability Mechanism (ESM), a permanent fund set up by eurozone members to help fellow struggling economies deal with the debt crisis.
The Federal Constitutional Court made the decision with certain reservations, but the move removed one of the biggest uncertainties over the fate of the ESM and the fund might be up and running by early next year.
Meanwhile, investors also believed that Apple's release of its latest version of the hugely successful iPhone at an event in San Francisco on Wednesday will boost local companies that supply the U.S. technology giant with components.
Amid upbeat sentiments, both local and foreign investors flocked to the stock market, buying up equities and pushing the turnover to 103.266 billion New Taiwanese Dollars.
Meanwhile, the New Taiwanese Dollar rose against major currencies in the foreign exchange market in Taipei.
It once rose to 29.580 to one U.S dollar, the highest level since May 28, before slightly falling back to close at 29.669.
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