Taiwan shares slip below 10,700 points

2017/11/13 16:27:58 fontsize-small fontsize-default fontsize-big
Taiwan shares slip below 10,700 points

Taipei, Nov. 13 (CNA) Shares in Taiwan closed lower Monday, falling below 10,700 points, as the weighted index on the Taiwan Stock Exchange fell below the monthly moving average of 10,757 for the third consecutive trading session.

The main index closed down 48.75 points, or 0.45 percent, at the day's low of 10,683.92, after hitting a high of 10,749.39. Turnover totaled NT$121.93 billion (US$4.04 billion) during the session.

The electronics sub-index dropped 0.83 percent, while the financial sub-index rose 0.18 percent.

Shares in electronics heavyweights were mixed, with contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), the most heavily weighted stock on the local market, losing 0.40 percent to end the day at NT$239.50.

Shares in Hon Hai Precision Industry Co. (鴻海), the world's leading contract electronics manufacturer and iPhone assembler, ended 0.40 percent lower at NT$107.00, while IC designer MediaTek Inc. (聯發科) lost 2.60 percent to close at NT$317.50.

Shares in Smartphone camera lens producer Largan Precision Co. (大立光) fell 0.70 percent to end at NT$5,700.00.

IC packaging and testing services provider Advanced Semiconductor Engineering Inc. (日月光) gained 0.20 percent to finish the day at NT$37.25.

In the financial sector, shares in Cathay Financial Holding Co. (國泰金) rose 1.00 percent to close at NT$49.80, and Fubon Financial Holding Co. (富邦金) dropped 0.10 percent to end at NT$48.05.

CTBC Financial Holding Co. (中信金) fell 0.20 percent to finish at NT$19.35.

Taishin Taiwan Small and Medium Cap Fund manager Wang Zhong-liang (王仲良) said that later this month the market will focus on the U.S. Federal Reserve's monetary policy, U.S. tax reform proposals, the financial performance of iPhone spare parts suppliers in the fourth quarter and the third and fourth quarter financial results of Taiwanese and U.S. companies.

Foreign institutional investors stood on the sell side, registering a net sale of NT$1.82 billion worth of shares on the main board Monday, according to the Taiwan Stock Exchange.

(By Chung Jung-feng and Evelyn Kao)

Share on Facebook  Share on twitter  Share by email  Share on Google+