The TAIEX recouped earlier losses and closed higher yesterday as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, staged a technical rebound amid optimism over its fundamentals.
Turnover remained thin as many investors stayed on the sidelines, with dealers attributing the growing wariness to hints from the US Federal Reserve that it would not only implement a series of rate increases, but would also reduce its balance sheet to further tighten money supply.
The TAIEX ended up 69.62 points, or 0.38 percent, higher at 18,239.38.
Turnover was NT$270.988 billion (US$9.79 billion), with foreign institutional investors selling a net NT$5.28