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Taiwan's stock prices close higher

Taiwan's stock prices close higher

Taipei, June 30 (CNA) Taiwan's share prices rebounded Tuesday from losses in the previous session, with the weighted index, the market's key barometer, advancing 41.01 points, or 0.64 percent, to close at 6,432.16.
In line with Wall Street's overnight gains and rallies in other Asian markets, the local bourse opened higher at 6,485.33 and reached a high of 6,503.98 before retreating to the day's low of 6,381.42.
The Taiex failed to offer resistance at the monthly moving average of 6,500 as a market correction was still underway, market observers said.
A total of 3.72 billion shares changed hands on market turnover of NT$90.23 billion (US$2.75 billion).
Two of the eight major stock categories gained ground, with machinery and electronics stocks advancing 1.4 percent and plastics and chemicals issues gaining 1 percent.
The other six major stock categories lost ground, with construction shares dropping the most at 2.6 percent. Foodstuff stocks fell 2 percent, banking and financial shares shed 1.2 percent, paper and pulp issues fell 0.9 percent, textile shares lost 0.6 points and cement issues dropped 0.1 percent.
Losers outnumbered gainers 1,231 to 840, with 214 stocks remaining unchanged.
Foreign institutional investors were net buyers of NT$7.83 billion in shares.
Wang Chao-li, an analyst at Polaris Securities Co., said that with a decline in volume and momentum over the past few days, the market will likely remain in a corrective mode unless turnover increases or positive news emerges to prop up the index.
(By Y.L. Kao)




Updated : 2021-04-23 19:08 GMT+08:00