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Taiwan shares fall on weak tech sector

Taiwan shares fall on weak tech sector

Taiwan shares fell for the second straight session on Monday, driven down by momory chip makers on falling contract prices.
The Weighted Price Index of the Taiwan Stock Exchange dropped 69.53 points, or 0.9 percent, to 7751.79.
Volume was light as many investors awaited more cues from the fourth quarter results of tech heavyweights later this week.
The index will likely retest 8,000 again next week on hopes of a rally before the Chinese New Year holidays, said Michael Lin at Fubon Securities. The Taiwan market closes on Feb. 15 for 10 days to observe the Chinese New Year.
Electronic stocks were among the worst performers, down 1.2 percent.
Powerchip, Taiwan No.1 DRAM chip maker by revenue, went down 2.3 percent at NT$20.90 in active trade. Its smaller rival ProMos Technologies was off 2 percent at NT$12.50.


Updated : 2021-02-25 15:56 GMT+08:00