Taiwan share prices closed flat yesterday in reduced trade as investors turned cautious following Monday's rally in the wake of the long Lunar New Year holidays, dealers said.
Investors opted not to push the upside further after seeing a general retreat among regional markets following declines on Wall Street overnight, they said.
The weighted index closed up 1.76 points or 0.02 percent at 7,901.96, off a low of 7,881.92 and a high of 7,939.50, on turnover of NT$116.44 billion (US$3.54 billion).
"It made perfect sense for the market to experience a hiatus after a dramatic upturn yesterday following an 11-day break," Jih Sun Securities Investment Consulting Co (
The Taipei bourse demonstrated considerable resilience against losses among regional markets this morning and Wall Street's overnight weakness, he said.
"We have not had as much gains and so we had no reason to suffer heavier losses," he said.
An increase in turnover would be necessary to help the market break through the 8,000-point resistance in the near term and sustain itself above that level, he added.
Taiwan Semiconductor Manufacturing Co (
Advanced Semiconductor Engineering Inc (ASE,
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