Taiwan share prices closed up 0.57 percent Tuesday after a surge on Wall Street overnight, but the gains were limited as the index approached the technical resistance level of 8,000 points, dealers said. The weighted index rose 45.85 points to 7,957.53, after fluctuating between 7,915.83 and 7,970.58, on turnover of NT$142.81 billion (US$4.49 billion). The market opened up 0.63 percent with interest focusing on old economy stocks, while buying in select high-tech heavyweights appeared slow on their relatively high valuations, dealers said. However, the market fluctuated in a narrow range throughout the trade as investors were unwilling to chase prices on fears of a possible pullback as the index approached the 8,000 point mark, they said. A total of 2,377 stocks closed higher and 1,277 lower, while 281 remained unchanged. The textile sector posted the largest gains of 1.7 percent. The construction sector gained 1.6 percent, the foodstuff sector 1.3 percent, the cement sector 1.0 percent, and the plastics and chemical sector 0.9 percent. The paper and pulp sector rose 0.7 percent, the financial sector 0.6 percent, and the machinery and electronics sector 0.3 percent. 'As the local bourse rose 1.94 percent Monday ahead of Wall Street's latest rebound, many investors today have turned cautious to some extent about possible profit taking, ' Taiwan International Securities analyst Michael Chiang said. 'Market attention is now shifting to the U.S. non-farm payroll report, which is due Friday, for more information to gain a clearer picture of the global economic fundamentals,' Chiang said. Rotational buying became active, lifting non-high-tech stocks, such as the construction and steel sectors, while interest in the financial sector seemed to have faded from the previous session, he said. 'Investors remain optimistic about the earnings outlook of these old economy stocks which have built close business ties with China, ' Chiang said. He said Taiwan's signing of an economic cooperation framework agreement with China in late June is still serving as a driving force to strengthen old economy stocks to offset the impact on the broader market from institutional investors' move to cut holdings in high-tech stocks. In the construction sector, Kuo Yang Construction rose 3.27 percent to NT$20.55 and Prince Housing increased 3.10 percent to NT$15.40. In the steel sector, Tung Ho Steel rose 6.96 percent to NT$30.75 and China Steel gained 1.13 percent to reach NT$31.20. Among the high tech stocks, flat panel maker AU Optronics closed up 0.81 percent at NT$31.00 and Taiwan Semiconductor Manufacturing Co. fell 0.48 percent to NT$62.00. 