Shares end down despite rebound in second half of day
Staff writer, with CNA
The TAIEX closed lower yesterday as investors chose to pocket gains from the previous two sessions, but losses were limited by a rally in the final two hours of trading boosted by strong market liquidity, dealers said.
While large-cap tech stocks, including contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), felt pressure, optoelectronics stocks, such as smartphone camera lens supplier Largan Precision Co (大立光), and select old-economy stocks drew interest, they said.
The TAIEX closed down 83.13 points, or 0.51 percent, at 16,341.38 on turnover of NT$346.82 billion (US$12.24 billion).
“It was not surprising that the market pulled back today after a strong showing on Wednesday, as many investors tended to pocket their gains,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang (黃國偉) said.
Late TSMC rally boosts TAIEX to a record high
FLUSH WITH CASH: The index has repeatedly hit record highs because of a buildup of liquidity, which has also bolstered tech and petrochemical shares, an analyst said
Staff writer, with CNA
The TAIEX yesterday closed at a record high after early losses were reversed by a late rally in Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares on hopes that it will have positive news at its investor conference on Thursday, dealers said.
Other large-cap semiconductor shares also attracted buying late in the session and non-tech heavyweights benefited from strong liquidity, lending further support to the broader market, they said.
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