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Taiwan shares end higher in thin trading

Taiwan shares end higher in thin trading

Taipei, Sept. 22 (CNA) Shares in Taiwan closed higher Tuesday in thin trading, as many investors stayed off the trading floor ahead of the Mid-Autumn Festival, dragging down daily turnover to below NT$70 billion (US$2.14 billion), dealers said. The weighted index on the Taiwan Stock Exchange closed up 58.88 points, or 0.70 percent, at 8,365.92 before fluctuating between 8,365.92 and 8,325.78 on turnover of NT$69.27 billion, the dealers said. Although Taiwan shares have risen nearly 1,000 points since the weighted index fell to a three-year low at 7,410.34 Aug. 24, the market's fundamentals are still weak, mainly due to low investor confidence and reports of Taiwan's export orders contracting for the fifth consecutive month in August on a global slowdown, a market analyst said. Despite a decision by the National Financial Stabilization Fund Committee not to withdraw funds from the stock market before the middle of October, the move could only prevent the market from falling sharply but will not lend momentum to boost the market, according to the analyst. The best-performing share categories were the photovoltaics and the Internet of Vehicles (IoV) sectors. Smartphone vendor HTC Corp. (???) rose 3.1 percent to close at NT$64.50, a record high since Aug. 24. A visit to the United States at the end of this month by Chinese President Xi Jinping and Taiwan's central bank's possible cut of its benchmark interest rates later this week could be factors affecting the market's movement, the dealers said. (By Hang Ting-ting and Evelyn Kao)


Updated : 2021-05-17 22:23 GMT+08:00