Thu, Feb 06, 2014 - Page 13 News List

TAIEX plunges on global volatility

‘FRAGILE CONFIDENCE’:The local bourse closed down 2.34%, largely on the continuation of the Fed’s tapering of its bond-buying and weak US manufacturing data

Staff writer, with CNA

Last week, Apple reported that its iPhone sales for the fourth quarter of last year totaled 51 million units, lower than a market estimate of 54.7 million units.

The disappointing sales data have depressed Apple shares in the past few sessions.

“After today’s sell-off, the local bourse has become technically weaker. Even if the market stages a rebound, any immediate breakthrough is unlikely,” Huang said.

However, Huang said he still expected the index to see some support to stay within the 8,100 to 8,150 points range.

Additional reporting by Amy Su

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