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Taiwan shares close flat after rises

Taiwan shares close flat after rises

Taiwan share prices closed flat yesterday after a run of seven consecutive rises.
The weighted index fell 3.66 points or 0.05 percent to 8,053.83 on turnover of NT$132.39 billion (US$4.14 billion).
Losers led gainers by 1,589 to 1,234 with 282 stocks unchanged.
"The main index will continue to consolidate tomorrow before testing 8,100 points," said Daiwa Securities fund manager David Li.
Solar cell maker Motech Industries soared 5.8 percent to NT$147.00, after it said it would buy a solar-cell module assembly plant in the United States from General Electric's energy unit for US$4.54 million.
Flat-panel makers Chi Mei Optoelectronics rose 2.3 percent to NT$22.20 and Innolux Display was up 0.2 percent at NT$47.15, on news that the companies, which are in the process of merging, have secured orders from Samsung Electronics.
Chip maker Inotera Memories added 2.0 percent to NT$26.00.
Taiwan's 10-year bonds rose for a third day on speculation financial institutions parked their excess funds in government securities. The local currency was little changed.
The Central Bank of the Republic of China (Taiwan) said last week it will maintain an "appropriately loose monetary policy" to help bolster the economy. The island's banks held NT$855.1 billion (US$26.5 billion) more funds in reserves than required by the central bank as of yesterday, according to the Taipei Interbank Money Center.


Updated : 2021-01-27 00:57 GMT+08:00