Steel stocks continue to rise; buying in broader market limited

Taiwan News
Date: 2016-04-14
By: By Frances Huang, Central News Agency

Taipei, April 14 (CNA) The steel sector in Taiwan continued its upward momentum Thursday morning on the back of a recovery in product prices, serving as an anchor to the movement of the broader market, dealers said.

However, buying in the broader market appeared limited, moving off an early high, as interest in the bellwether electronics sector faded, in particular among heavyweights such as contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC) and smartphone camera lens supplier Largan Precision Co., since investors pocketed gains built up a session earlier, the dealers said.

As of 11:55 a.m. the steel sector had gained 1.94 percent to reach 89.81 points, while the weighted index on the Taiwan Stock Exchange had risen 0.17 percent to 8,662.92 points off an early high of 8,719.15, on turnover of NT$55.40 billion (US$1.71 billion).     [FULL  STORY]

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