Thu, Apr 13, 2017 - Page 12 News List

Taiwanese shares edge lower amid global uncertainty

Staff writer, with CNA

Shares in Taiwan edged lower yesterday, but remained above 9,800 points amid geopolitical uncertainties caused by rising tension between North Korea and the US after a US Navy strike group was deployed toward the Korean Peninsula in a show of military force, dealers said.

The Taiwan Stock Exchange’s main index, the TAIEX, closed down 14.74 points, or 0.15 percent, at 9,817.68, after moving between 9,837.19 and 9,789.59 on turnover of NT$88.63 billion (US$2.9 billion).

Shares opened down 0.86 points at 9,831.56 and hit a low of 9,789.59, but recovered most of their early losses later in the session on the back of electronics stocks.

Flat-panel suppliers AU Optronics Corp (友達) and Innolux Corp (群創) rose 3.64 percent and 6.34 percent to close at NT$12.8 and NT$14.25 respectively.

The performance of optoelectronic stocks was also relatively strong, with Genius Electronic Optical (玉晶光) gaining 5.64 percent to close at NT$313.

Foreign institutional investors bought a net NT$2.886 billion worth of shares.

The market’s focus today is expected to be on contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) and Largan Precision Co (大立光), a supplier of smartphone camera lenses to Apple Inc, as the companies are scheduled to hold investors’ conferences, dealers said.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top