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Taiwan shares end below 9,000, dragged down by electronics stocks

Taiwan shares end below 9,000, dragged down by electronics stocks

Taipei, July 20 (CNA)
Shares in Taiwan moved lower to close below the 9,000 point mark Monday as market sentiment was hurt by anticipation of weaker-than-expected trade performance of the electronics sector for the third quarter of 2015.
The weighted index on the Taiwan Stock Exchange closed down 70.98 points, or 0.78 percent, at 8,975 on turnover of NT$81.15 billion (US$2.61 billion).
The bellwether electronics sector encountered selling pressure throughout the session and pushed the broader market below the 9,000 point mark, dealers said.
Among the falling electronics stocks, integrated circuit designer MediaTek Inc., dropped 5.07 percent to close at NT$346.5, flat panel maker AU Optronics Corp. fell 4.98 percent to close at NT$11.45, and Innolux Corp. shed 6.25 percent to end at NT$12.75.
Among other high-tech stocks, Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock in the market, dropped 0.71 percent to close at NT$139 and United Microelectronics Corp. (UMC), Taiwan's second largest contract chip maker, shed 0.42 percent to end at NT$11.95.
Since Greece's Parliament has passed austerity measures needed to secure a fresh bailout, the impact of Greece's debt crisis on the stock market is expected to decline and the next major factor to affect the market will be the release of earnings reports by U.S. companies later this week, an analyst said. (By Luo Hsiu-wen and Evelyn Kao)


Updated : 2021-09-25 21:14 GMT+08:00