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Taiwan Top Fund Manager Sees Rally Toward Record Before Vote

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Taiwan’s benchmark stock index may rally 15 percent to approach a record this year as earnings prospects and a presidential election in January lure foreign funds, according to the island’s third-best performing money manager.

The Taiex index will probably touch 12,000 by October or November before paring gains in the fourth quarter, said Tony Chen, a vice president at Schroder Investment Management (Taiwan), whose small-to-medium cap fund returned 15 percent this year. Profit growth will be driven by foundries, chip packagers and financial stocks, he said.