Alexa

Thin turnover leaves Taiex little changed

Thin turnover leaves Taiex little changed

Taiwan share prices closed little changed yesterday in thin turnover, with most foreign markets closed for Christmas, dealers said.
Year-end window-dressing activity by fund managers here helped offset the negative impact from Wall Street's weaker close Friday.
Real estate developers and construction firms outperformed on expectations that Taiwan's high speed train will launch operations soon to boost property prices after the government said the system has met safety certification requirements.
The weighted index closed down 5.66 points or 0.07 percent at 7,646.81, off a low of 7,635.16 and a high of 7,667.44, on turnover of NT$72.87 billion (US$2.24 billion).
Risers led decliners 669 to 473, with 201 stocks unchanged.
A total of 55 stocks closed limit-up, while six were limit-down.
The auto sector was down 0.42 percent, the electronic sector down 0.41 percent and the financial sector down 0.14 percent.
The paper sector was up 2.45 percent, the food sector up 2.22 percent and the construction sector up 2.10 percent.
The Taiwan dollar ended the morning session at NT$32.597 against the U.S. dollar, compared with the previous close of NT$32.565.
President Securities manager Johnny Lee said some investors, particularly foreigners, are taking a break from the market, leaving the local bourse to trade in a narrow range this session.
"While Wall Street lead was negative, continued expectations of foreign capital inflows and window-dressing interest provided support," he said.
In the absence of major leads, the market focus shifted to those expected to benefit from prospective operations of high-speed rail.
"Those that own land or real estate firms developing projects alongside the high-speed rail were the major beneficiaries."
However, the broader market is poised for further consolidation in the last few sessions of the year, Lee added.
Taiwan Semiconductor Manufacturing Co. lost NT$0.50 to NT$65.10 and United Microelectronics Corp. dropped NT$0.25 to NT$19.55.
VIA Technologies was steady at NT$31.70, while High Tech Computer fell NT$5 to NT$645, and MediaTek lost NT$3 to NT$331.
Teco Electric Machinery closed limit-up NT$0.45 at NT$17, Continental Engineering rose NT$0.05 to NT$29.20, Radium Life Tech gained NT$3.15 to NT$49.55, King's Town Construction added NT$1.10 to NT$33.95 and Formosan Rubber added NT$0.45 to NT$22.95 on the high-speed rail lead. Formosa Plastics Corp fell NT$0.20 to NT$53.00, while China Airlines was steady at NT$14.90.
Taiwan Cooperative Bank lost NT$0.35 to NT$23.45.


Updated : 2020-12-05 05:25 GMT+08:00