Shares in Taipei yesterday closed lower at below the one-month moving average of 9,275 points on thin turnover.
The TAIEX closed down 17.42 points, or 0.19 percent, at 9,272.70 after fluctuating between 9,389.12 and 9,236.82 on turnover of NT$48.77 billion (US$1.545 billion), the third-lowest this year.
The market opened down 17.82 points and continued in a narrow range for the rest of the session, with the electronics subindex down 0.06 percent at the close and the financial subindex down 0.13 percent.
Turnover remained thin as investors stayed on the sidelines following disappointing earnings from major companies and amid new uncertainty over the US presidential election on Tuesday next week and a referendum in Italy on constitutional reform, dealers said.
Most large-cap electronics shares lost ground, with Hon Hai Precision Industry Co (鴻海), an assembler of iPhones and iPads, falling 0.8 percent to end at NT$84.6.
MediaTek Inc (聯發科), Taiwan’s leading integrated-circuit designer, ended 1 percent down at NT$237.5, while Advanced Semiconductor Engineering Inc (日月光), the world’s largest integrated circuit packaging and testing services provider, lost 0.1 percent to end at NT$37.05.
Bucking the downward trend in the bellwether electronics sector, Taiwan Semiconductor Manufacturing Co (台積電), the most heavily weighted stock in Taiwan, rose 0.5 percent to close at NT$189.5.
Wei Yung-hsiang (魏永祥), a manager at Taishin China Equity Fund (台新中國通基金), said that the market is expected to move between 8,800 and 9,500 points through the end of this year if turnover does not increase.
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