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Wall Street woes send Taiex 0.97% lower

Wall Street woes send Taiex 0.97% lower

Taiwan share prices closed down 0.97 percent yesterday as late buying curtailed early falls triggered by Wall Street's overnight slump, dealers said.
The weighted index closed down 84.23 points at 8,643.32, off a low of 8,514.47, on turnover of NT$129.09 billion.
Decliners outnumbered advancers 1,278 to 462, with 162 stocks unchanged.
A total of 32 stocks closed limit-up, while 18 were limit-down.
The paper sector was down 2.03 percent, financials lost 2.02 percent and electronics fell 1.13 percent.
The steel sector was up 2.84 percent and transport gained 0.12 percent.
The New Taiwan dollar ended at NT$33.060 to the U.S. dollar, compared with the previous close of NT$33.002.
China Steel Corp rallied NT$1.20 or 2.98 percent to NT$41.50. Chunghwa Telecom Co also gained NT$1.60 or 2.92 percent to NT$56.40.
Stanley Hsu, a manager with First Taisec Securities, said bargain-hunting helped curb falls, but added lingering global financial uncertainty could lead to more equity market jitters.
"Investors seeking a safe haven injected liquidity into firms with robust earnings results and those with product price-hike leads," Hsu said.
There was technical resistance at around 8,700-8,800 points, which could weigh on investor sentiment, he said.
"It may be premature to say when the local bourse will end its correction - our economy is looking for more signals from global leaders," Hsu added.
Chien Shing Stainless Steel Co Ltd was limit-up NT$0.64 at 6.73 percent to NT$10.15 and Mayer Steel Pipe Corp rose NT$1.70 or 5.11 percent to NT$35.00.
U-Ming gained NT$1.70 to NT$92.30 and Ruentex Development Co rallied NT$1.90 or 5.01 percent to NT$39.80 after reporting first-half earnings.
Taiwan Cooperative Bank shed NT$0.45 or 2.01 percent at NT$21.90 on a report that Cathay Financial Holdings unit Cathay Life Insurance Co has been disposing of its holdings in Taiwan Cooperative Bank since June.
Cathay Financial lost NT$2.50 or 3.43 percent to NT$70.40.
Qisda (formerly BenQ) Corp shed NT$0.65 or 4.14 percent to NT$15.05, failing to benefit from news that it made a capital gain of NT$380 million from the cumulative sale of 4.64 million shares in unit Darfon Electronics Corp at NT$103.00 per share on Tuesday and Monday.
Among other stocks in focus, Taiwan Pulp & Paper fell NT$0.25 dollar or 2.37 percent to NT$10.30; High Tech Computer shed NT$10.00 or 2.37 percent to NT$412.00.


Updated : 2021-01-22 17:54 GMT+08:00