Taipei--Shares in Taiwan closed slightly lower Wednesday to finish below 10,500 points on a mild technical correction from the previous session.
The weighted index on the Taiwan Stock Exchange closed down 6.74 points, or 0.06 percent, at 10,499.36, after moving between 10,483.54 and 10,534.52 on turnover of NT$101.939 billion (US$3.41 billion).
The market opened up 7.02 points at 10,513.12, approaching the technical resistance level of around 10,545 points, but selling emerged and electronics shares lost some of their earlier gains, while the financial sector also lost steam, pushing the main index below 10,500 points.
Most of major share categories lost ground, with the electronics sub-index closing down 0.02 percent, while the sub-index for the financial sector ended 0.21 percent lower, the textile sector ended down 0.96 percent and automobile shares fell 0.85 percent.
Among the gaining electronics stocks, contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, ???), the most heavily weighted stock in the local market, gained 0.47 percent to close at NT$215.50.
Integrated circuit packaging and testing services provider Advanced Semiconductor Engineering Inc. (???) gained 0.75 percent to end at NT$40.10.
Smartphone camera lens supplier Largan Precision Co. (???), the most expensive stock in the local market, remained unchanged at NT$5,580.00.
iPhone assembler Hon Hai Precision Industry Co. (??) lost 0.43 percent to end at NT$116.50.
Taishin 2000 High-Tech Fund manager Shen Chien-hung (???) said that after the main index has been above the 10,000-point mark for more than 40 consecutive days, the market is expected to find strong technical assistance at the quarterly moving average of 10,186 points.
Foreign institutional investors sold a net NT$1.076 billion-worth of shares on the main board on Thursday, according to the Taiwan Stock Exchange.
Source: Focus Taiwan News Channel