Taiwan's share prices closed flat yesterday following Wall Street's falls last Friday and amid caution ahead of upcoming corporate earnings results, dealers said.
While declines in the previous session were already keeping investors cautious, Chi Mei Optoelectronics Corp's (
The weighted index closed down 4.05 points at 6,307.93, off a low of 6,290.93 and a high of 6,327.83, on turnover of NT$76.73 billion (US$2.4 billion). Decliners led gainers 521 to 327, with 135 stocks unchanged.
Thirteen stocks closed limit-up, while 16 were limit-down.
The construction sector was down 1.69 percent and financials down 0.18 percent. The tourism sector was up 3.39 percent, auto up 2.77 percent and electronics up 0.15 percent.
Dealers said tourism stocks extended their gains on continued hopes for a further relaxation on rules governing cross-strait travel.
Selected technology stocks also attracted interest on improving industry prospects, while the automobile sector benefited from bargain-hunting.
"Some follow-through selling was evident today after the soft showing on Friday," said Frank Lin, senior vice president at Fubon Securities Co (富邦證券).
"Corporate earnings concerns prevented investors from [undertaking] any aggressive bargain-hunting," he said.
Lin said the market's performance early this month will also be affected by stocks going ex-dividend.
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