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Taiwan shares fall on profit-taking ahead of long holiday

Taiwan shares fall on profit-taking ahead of long holiday

Taiwan shares fell Wednesday on profit-taking ahead of a five-day holiday.
Taiwan's main stock index dropped 1.2 percent, or 81.9 points, to 6,874.98.
The island's markets will be closed from Friday Oct. 6 through Oct. 10, Taiwan's national holiday.
Profit-taking mainly affected technology and financial shares, which recently outperformed, traders said.
Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker by revenue, fell 2.5 percent to 58.5 New Taiwan dollars, while its smaller rival, United Microelectronics Corp. dropped 1.9 percent to NT$18.4.
Bucking the trend were chip designers MediaTek _ rising 1.4 percent to NT$323 _ and Novatek Microelectronics _ gaining 3.2 percent to NT$162.5. The chip designers were likely to perform well in 2007, according to a report by Morgan Stanley.


Updated : 2021-08-02 07:16 GMT+08:00