Share prices closed flat yesterday as gains in the electronics sector helped offset Wall Street's overnight weakness and continuing concerns over the nation's immediate political future, dealers said.
The weighted index closed up 1.30 points, or 0.02 percent, at 6,523.49, off a high of 6,534.69 and a low of 6,459.74, on turnover of NT$128.19 (US$3.88 billion).
The gains in the electronics sector were led by DRAM makers, on product price hikes, and TFT-LCD panel producers, as investors bet on strong results for the first quarter.
Decliners led winners 473 to 378, with 128 stocks unchanged.
Some 27 stocks closed limit-up, while three limit-down.
The electronics sector was up 0.91 percent and petrochemicals up 0.13 percent.
The transport sector was down 2.36 percent, financials down 1.18 percent and steel down 0.95 percent.
The day's trade reflected "a reluctance to make any aggressive moves in the market," said Cooper Liao, senior vice president with Grand Cathay Securities Corp (
"With political uncertainty remaining in place, investors continued their cautious approach," he said.
While old-economy stocks took a hit from an uncertain outlook for demand from China, select electronics stocks outperformed despite the strength in the NT dollar.
"Some electronics benefited from product price hikes and some from robust results in the first quarter," he said, adding that there were no major fresh leads to provide a clear direction.
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