Alexa

Taiwan stocks fall amid cautious mood

Taiwan stocks fall amid cautious mood


The weighted index on the Taiwan Stock Exchange jumped 22 points at the start on Tuesday and slipped 12 points, or 0.14 percent, to finish at 8887.79 after trading between 8,887.79 and 8,930.79 on turnover of 78.22 billion Taiwan dollars. The stock market turned weak in the second half of the session as the buying mood for electronic stocks was overshadowed by larger risk-averse investors on the day of the sixth anniversary of President Ma Ying-jeou’s inauguration, according to market analysts.

The index failed to breach the 8,900 mark as the buying for value-weighted electronics shares turned slow. Largan Precision (3008) surged past the NT$2,000 mark in early session but turned weak towards the end at an over 1% loss. Share prices of Taiwan's TPK Holding (3673), a leading manufacturer of touch screens, gave up 1.3%. Both Taiwan Semiconductor Manufacturing Co. (TSMC) (2330) and chip supplier MediaTek Inc. (2454) remained flat on the same day. Hon Hai (2317) and ASE (2311) were major gainers among the value-weighted electronic stocks, up 0.9% and 3.3% respectively, breaking the 520 spell.

The financial sector index gave up 0.57%, the portion of shares traded of today down to 4.5 percent as the Financial Supervisory Commission (FSC) announced a tightening of regulations on complex financial products in Taiwan. Megabank (2886) dropped 1.26%. Traditional industry stocks were relatively weak on Tuesday.

Foreign institutional investors (including mainland investors) purchased a net NT$ 1.57 billion, dealers bought a net NT$23 million, and securities investment trust companies bought a net NT$256 million. The net buying totaled NT$1.84 billion.