Share prices closed 0.55 percent lower yesterday after Wall Street's overnight downturn and amid concerns over Saturday's National Assembly election, dealers said.
The Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) led the electronics sector lower after the declines in New York.
The TAIEX lost 32.67 points at 5,917.13, on turnover of NT$54.50 billion (US$1.75 billion). Declines led gains 601 to 228, with 181 stocks unchanged.
The tourism sector outperformed, gaining 0.90 percent, on hopes that China will allow its citizens to travel to Taiwan for sightseeing in the near future.
"The market had no more than a hiccup today against the more substantial losses suffered on Wall Street overnight," said Daniel Tseng (
He said that while investors would rather refrain from buying shares, there was limited selling due to expectations that the market has little downside at these levels.
"A sudden deterioration in cross-strait relations does not seem likely after the consecutive peace-making visits by the island's opposition leaders," he said.
"As such, the market should be able to break out of the rangebound consolidation and head for a sustainable upswing after the uncertainty over Saturday's polls is out of the way," he said.
TSMC closed down NT$1.10 at NT$53.60 and United Microelectronics Corp (聯電) shed NT$0.25 at NT$19.15. AU Optronics Corp (友達光電) was down NT$1 at NT$52.10, Chi Mei Optoelectronics Corp (奇美電子) shed NT$0.60 to NT$50.50 and Powerchip Semiconductor Corp (
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