Taiwan shares recoup early losses to end up; IC sector falls
02/23/2021 05:43 PM
CNA file photo
Taipei, Feb. 23 (CNA) Shares in Taiwan closed slightly higher Tuesday, recovering from early losses caused by selling in large-cap semiconductor stocks, in a market awash in liquidity, dealers said.
While contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) led the integrated circuit sector to move lower throughout the session, buying rotated to old economy and financial stocks, as investors with large funds sought a safe haven to park their money, dealers added.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 33.24 points, or 0.20 percent, at 16,443.40, after moving between 16,211.75 and 16,467.75. Turnover totaled NT$367.03 billion (US$12.66 billion) during the session.
Semiconductor stocks under pressure after U.S. losses
02/23/2021 11:25 AM
CNA file photo
Taipei, Feb. 23 (CNA) Taiwan s semiconductor stocks came under pressure Tuesday morning after similar stocks fell sharply in the United States overnight at a time of rising bond yields, dealers said.
Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) led the downturn on the local market after its American depositary receipts (ADRs) fell 2.26 percent in the U.S. on Monday, they said.
Old economy stocks benefited from rotational buying in a market that is still highly liquid, helping the weighted index, the Taiex, offset the adverse affect of the tumbling tech stocks, dealers said.
WASHINGTON (dpa-AFX) - Stocks moved mostly lower during trading on Monday, with the tech-heavy Nasdaq showing a particularly steep drop. The S&P 500 also ended the day firmly in negative territory
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WASHINGTON (dpa-AFX) - After moving mostly higher early in the session, stocks gave back ground over the course of the trading session on Friday. The major averages pulled back off their best