Alexa
  • Directory of Taiwan

Taiwan shares close down

Taiwan shares close down

Taipei, May 11 (CNA) Shares in Taiwan closed lower for a fifth straight session on Monday on weakness in small- and medium-cap stocks after a promising start.
The market opened just under a percent higher as financial stocks benefited from a surge on Wall Street on Friday and an interest rate cut by the People's Bank of China, but it fell into negative territory within 90 minutes and never recovered. The weighted index closed down 28.28 points, or 0.29 percent, at 9,663.72 after trading between a high of 9,797.19 and a low of 9,635.88. Turnover was NT$95.76 billion (US$3.12 billion). It was the index's eighth fall in nine sessions since the Taiex closed at a 15-year high of 9,973.12 on Apr. 27. Several large-cap stocks helped keep the market from tumbling further. Taiwan Semiconductor Manufacturing Co. (TSMC, ???), the most heavily weighted stock on the local market, closed 1.37 percent higher at NT$148.5, while smartphone camera lens maker Largan Precision Co. (???) gained 1.92 percent to close at NT$3,180. Most shares that fell Monday were small and medium-cap stocks, according to analyst Wang Chao-li (???), who suggested that the bourse may begin rising again once the uncertainty of earnings season has come to an end. (By Jackson Chang and Lilian Wu)


Updated : 2021-09-22 05:37 GMT+08:00