Taiwan shares edge lower in consolidation mode

2017/04/20 16:01:13
Taiwan shares edge lower in consolidation mode

Taipei, April 20 (CNA) Shares in Taiwan edged lower in consolidation mode Thursday amid weakness in U.S. and European markets as a result of rising geopolitical tensions, dealers said.

The weighted index on the Taiwan Stock Exchange closed down 7.25 points, or 0.08 percent, at 9,632.69, after moving between 9,664.24 and 9,622.25. Turnover totaled NT$77.59 billion (US$2.55 billion) during the session.

The bellwether electronics sector fell 0.07 percent, while the financial sector rose 0.34 percent.

Most companies in Apple Inc.'s supply chain saw their share prices moving higher.

Hon Hai Precision Industry Co. (鴻海), the world's largest contract electronics maker and an assembler of iPhones and iPads for Apple, rose 0.21 percent to finish at NT$96, while Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), the world's biggest contract chip maker, increased 0.27 percent to close at NT$187.

Smartphone camera lens supplier Largan Precision Co. (大立光) climbed 0.11 percent to end at NT$4,725, and Catcher Technology Co. (可成), a metal casing supplier to Apple, gained 1.58 percent to finish at NT$289.5.

TPK Holding Co. (宸鴻), a major supplier of touch panels for Apple, soared 9.2 percent to end at NT$103.5.

In the financial sector, Fubon Financial Holding Co. (富邦金) rose 1.18 percent to close at NT$47.05, while Cathay Financial (國泰金) increased 1.19 percent to end at NT$46.75 and Mega Financial Holding Co. (兆豐金) was up 0.42 percent, finishing at NT$24.

CTBC Financial Holding Co. (中信金) closed 0.27 percent lower at NT$18.3.

Foreign institutional investors sold a net NT$584 million-worth of local shares Thursday.

(By Jeffrey Wu and Y.F. Low)
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