Taiwan shares closed lower to below the one-month moving average of 9,275 points Tuesday on thin turnover.
The Taiwan Stock Exchange's main index closed down 17.42 points, or 0.19 percent, at 9,272.70, after fluctuating between 9,389.12 and 9,236.82, on turnover of NT$48.77 billion (US$1.54 billion), the third-lowest this year.
The market opened down 17.82 points and continued in a narrow range for the rest of the session, with the electronics sub-index closing down 0.06 percent and the financial sub-index down 0.13 percent.
Turnover remained thin as investors stayed on the sidelines following disappointing earnings from major companies and amid new uncertainty over the upcoming U.S. presidential election and a referendum in Italy on constitutional reform, dealers said.
Most of the large-cap electronics shares lost ground, with Hon Hai Precision Industry Co. (??), an assembler of iPhones and iPads, falling 0.80 percent to end at NT$84.60.
MediaTek Inc. (???), Taiwan's leading integrated circuit designer, ended 1.00 percent down at NT$237.50, while Advanced Semiconductor Engineering Inc. (???), the world's largest integrated circuit packaging and testing services provider, lost 0.10 percent to end at NT$37.05.
Bucking the downward trend in the bellwether electronics sector, Taiwan Semiconductor Manufacture Co. (???), the most heavily weighted stock in Taiwan, rose 0.50 percent to close at NT$189.50.
In the financial sector, Fubon Financial Holding Co. (???) fell 0.10 percent to close at NT$44.75, while Cathay Financial Holding Co. (???) closed 0.30 percent down to end at NT$40.80, and CTBC Financial Holding Co. (???) gained 0.50 percent to close at NT$17.10. Mega Financial Holding Co. (???) lost 0.20 percent to end at NT$21.55.
Wei Yung-hsiang (???), a manager at Taishin China Equity Fund (???????), said that the market is expected to move between the 8,800-9,500-point range by the end of this year if turnover does not increase.
Source: Focus Taiwan News Channel