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Taiex edges lower on weak trading volume

Taiex edges lower on weak trading volume

Taipei, Aug. 27 (CNA) Share prices in Taiwan edged down 0.12 percent Monday on relatively low trading volume, with the market still in a correction mode, dealers said. The weighted benchmark Taiex ranged between a high of 7,523.54 and a low of 7,457.75 before finishing down 9.31 points at 7,468.22 on turnover of NT$65.34 billion (US$2.18 billion). A total of 1,495 stocks closed up, 2,503 finished down, and 438 remained unchanged. The Taiex's small fall was in line with the generally flat trading seen across Asian markets. Japan's Nikkei 225 was up 0.16 percent at 9,085.39, while the Kospi Index in Seoul fell 0.10 percent to 1,917.87 and the Hang Seng Index in Hong Kong lost 0.41 percent to 19,798.67. The Shanghai Composite Index fell 1.74 percent to 2055.71. The majority of the eight major stock categories on Taiwan's market lost ground, with food shares suffering the steepest fall, shedding 1.5 percent.
The machinery and electronics sector was the only category to finish in positive territory, ending 0.2 percent higher, as buying concentrated on select Apple concept stocks after Apple Inc. scored a sweeping legal victory over Samsung Electronics Co. last Friday.
Among them, cell phone camera lens maker Largan Precision rose 3.41 percent to NT$637, and Foxconn Technology Co., the Taipei-listed maker of computer casings and electronics, closed up 1.78 percent at NT$114.5.
G-Tech Optoelectronics Corp. gained 1.41 percent to end at NT$86.1, and Flexium Interconnect Inc., a maker of printed circuit boards, rose 0.75 percent to end at NT$109.5. Conversely, Samsung-related stocks performed poorly. Young Fast Optical Co., a manufacturer of small to medium-sized touch panel sensor products, lost 5.11 percent to end at NT$70.50. JTouch Corps closed down 5.69 percent at NT$29.00, and Skymedi Corp. shed 6.66 percent to end at NT$28.75. Among other sectors, plastics and chemical shares lost 0.6 percent, financial shares fell 0.4 percent, and textile stocks shed 0.2 percent. Paper and pulp stocks, cement shares and the construction sector all fell 0.1 percent. The Taiex has been in a correction mode for the past two weeks, trading in a narrow ranges between 7,400 to 7,550, dealers said, suggesting that the market's low trading volume may be limiting its momentum. (By Han Ting-ting and Hanna Liu)


Updated : 2021-04-13 21:44 GMT+08:00