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Taiwan shares end flat ahead of New Year holiday

Taiwan shares end flat ahead of New Year holiday

Taiwan shares barely budged Thursday as trading slowed down ahead of the New Year holiday.
The Weighted Price Index of the Taiwan Stock Exchange dropped 0.25 points, or less than 0.01 percent, to 7,732.93.
Taiwan shares give up early gains before ending flat as many traders were already on vacation, traders said.
"There's no fundamental catalyst for the market, and the rally is mostly driven by retail investors," said Fubon Securities' Shawn Wang.
Construction stocks were the worst performers, dropping 2.3 percent overall, on concerns about interest rate hikes and oversupply in 2007.
King's Town Construction fell 2.1 percent to 32.5 New Taiwan dollars, while Da Cin Construction lost 2.2 percent at NT$13.2.
Electronics stocks bucked the trend and rose 0.2 percent overall following an 0.8 percent overnight gain on the Nasdaq. Companies in the U.S. and Taiwanese economies maintain close contracting links.
Powerchip Semiconductor Corp., Taiwan's largest memory chip maker by revenue, advanced 2.8 percent to NT$22.1.


Updated : 2021-06-22 12:26 GMT+08:00