Taipei - Taiwan's stock market surged nearly 4 per cent Monday due to a fall in oil price and on expectations of better-than-expected US financial reports. 

The weighted index TAIEX rose 270.35 points, or 3.97 per cent, to close at 7,085.67. 

Analysts said the main reason for TAIEX's rally was that in the past week, international oil prices have fallen 11 per cent. (dpa)