Boosted by strong buying in construction shares, Taiwan share prices closed up 0.43 percent Friday, recovering slightly from losses in the previous two days, dealers said. The weighted index rose 33.17 points to 7,722.91, after moving between 7,702.59 and 7,722.91, on turnover of NT$92.1 billion (US$2.88 billion). The market opened up 12.85 points, with investors more reluctant to continue to dump shares as the market found technical support after two days of correction, dealers said. The construction sector, which gained the most at 2.7 percent, was boosted by a forecast by Credit Suisse research analyst Tao Dong that Taipei's real estate market will certainly go up. Textile stocks rose 1.4 percent, and the foodstuff sector added 1.3 percent after suffering a 2.4 percent decline on Thursday. Financial shares were up 0.9 percent, plastics and chemical issues advanced 0.7 percent, and paper and pulp shares rose 0.6 percent. The machinery and electronics sector edged up 0.1 percent, while cement stocks remained unchanged. A total of 1,780 stocks closed down and 1,683 finished higher, while 333 remained unchanged. Allan Lin, assistant vice president of the research department at Concord Securities, said that the local shares market, after falling in the past two days, was shored up by bargain hunting buying, but it also encountered resistance as it rose. Lin said he expects the market to enter a narrow consolidation phase, with the index hovering between 7,650 and 7,850 next week. Taiwan International Securities analyst Benson Huang said that the market was still a bit bearish as foreign investors have turned to the sell side in the stock futures market. He also said that the market mood was cautious ahead of the latest GDP figures from the U.S. and a speech by Federal Reserve Chairman Ben Bernanke later Friday on the U.S. economic outlook. 'The index would need to stand firm above the 90-day-average of 7,655 next week if it is to move upward,' Huang said. Kevin Lin, senior vice president of Fuh Hong Financial Planning Co., predicted that market investors will grow more cautious with the approach of November 27 municipal mayoral elections and the uncertainties over the U.S. and European economies. 'Local investors usually begin to turn cautious three months before an election,' Lin said. Foreign investors, including mainland Chinese investors, were net sellers of NT$5.93 billion-worth of shares. 