So very Taiwanese: Lawmakers celebrate with cheap snacks as stock market passes 10,000 mark

Taiwan shares again closed above 10,000 points on Monday. Last week they had already passed the milestone, which had stood for 17 years.

The news was icing on the cake for lawmakers. Earlier in the day, the Finance Committee had celebrated the previous breaching of the 10,000-point mark -- and they did it in classic Taiwanese fashion.

The committee chief, Lo Ming-tsai, had promised to treat the committee to fried chicken steaks and milk tea if the index passed 10,000. And that's how it came to pass that on Monday, the Finance Committee wound up sitting in a row at 11 in the morning, drinking icy bubble tea.

Later, shares closed up 50.00 points, or 0.50 per cent, to end 10,036.82 on turnover of NT$86.71 billion (S$4 billion). Apple concept stocks led the upturn after the US consumer electronics giant's share price hit a new high Friday, dealers said.

"On the 10th anniversary of the iPhone, the market has high hopes of a significant upgrade in specifications that will drive sales," MasterLink Securities analyst Tom Tang said. "As one of Apple's major suppliers, Hon Hai is expected to benefit from the release of the new iPhones."

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