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ANCHOR:Taiwan markets rallied today, the first trading day after the opposition scored a resounding win in the presidential election. Investors are hoping for better trade ties and less political tension with China. Taiwan's main TAIEX soared more than six percent at the open -- its biggest one-day percentage gain in more than seven years.The Taiwan dollar also jumped to a 10-year high of T$30.258 against the U.S. dollar, and is now up nearly 7 percent so far this year. The TAIEX consolidated its gains and finished up 3.84 percent in morning trade.Investors say they are optimistic about the new government, which promises closer economy ties with mainland China.[Chen Chih-Yuan, Investor]:"Basically, various aspects of Taiwan's economy are now doing well. With a new direction from our next leadership, the opening up to Taiwan to the world will definitely boost the stock market."[Mr. Chen, Investor]:"Under Ma, I think we will have improved and direct links with mainland China. So I think the stock market will keep on going up."But some analysts warn the current euphoria should be relatively short-lived as Taiwan's stock market has to work on its fundamentals to secure a long-term bull run.[Kevin Lin, V.P., Marbo Mutual Fund]:"We feel that in the short term the stock market will be affected and grow in strength. The main reason is that we have now a new leadership that is adopting a gentler approach towards cross-strait ties. So, this will definitely help to improve our ties with mainland China. In the long term, I feel the stock market will have to go back to its basics. Taiwan is closely linked to the markets in the United States and Europe and the technology industry constitutes 60 percent of Taiwan's market. All these will affect the stock market's development in the future."Despite turmoil in global markets, the TAIEX had risen slightly so far this year before the Monday rally on optimism over the election, even as the Dow Jones industrial average in the United States has fallen 6.8 percent.